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by Stockwatch Business Reporter

New York spot gold fell $4.10 to $2,317.40 on Wednesday. The TSX Venture Exchange slipped 1.14 points to 574.65, while the TSX gold index added 1.85 points to 306.62. Most Canadian-listed gold miners moved little today, compared with the more energetic gyrations over the past few weeks. First Quantum Minerals Ltd. (FM) was busy and positive, adding 42 cents to $15.94 on 3.29 million shares on word it lost $159-million (U.S.) in its first quarter. The market reaction appears a case of "it could have been worse." (Remember that the company lost its big Cobre Panama mine last fall through a government declaration -- a fight that is sure to continue.)

And then there was Ross Beaty and Greg Smith's Equinox Gold Corp. (EQX). The company said early this morning that it is acquiring the remaining 40-per-cent interest in the Greenstone mine in Ontario from Orion mine Finance Management LP for just shy of $1-billion (U.S.). Equinox will pay $705-million (U.S.) in cash on closing and another $40-million (U.S.) at the end of the year. It will also issue Orion $250-million (U.S.) of its stock.

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