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by Stockwatch Business Reporter

New York spot gold fell $20.40 to $2,332.10 on Wednesday. The TSX Venture Exchange slipped 0.87 point to 587.30 while the TSX gold index dipped 1.76 points to 310.49. Mandalay Resources Corp. (MND) was stronger, as it rose six cents to $2.18 on 33,000 shares today. Artemis Gold Inc. (ARTG), which lost 17 cents to $8.70 on 320,000 shares, was among those in retreat today, although the undisputed leader among that cadre of Canadian gold miners was John McConnell's Victoria Gold Corp. (VGCX), which slid 76 cents to $6.88 on 2.27 million shares.

Mr. McConnell, Victoria's president and chief executive officer, conceded that gold production at its Eagle mine in Yukon during the just completed first quarter of 2024 was down on a year-over-year basis, but not to worry -- the summer and fall seasons are the company's optimal periods. And so, he and his crew expect the company to produce between 165,000 and 185,000 ounces in 2024, despite having managed barely 29,500 ounces in the first quarter. Bullion is soaring as you know, and that is fortunate, as Victoria Gold says its 2024 cost guidance falls between $1,450 (U.S.) and $1,650 (U.S.) per ounce of gold produced.

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