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by Stockwatch Business Reporter

New York spot gold fell $4.30 to $2,380.70 on Thursday. The TSX Venture Exchange rose 1.4 points to 603.27 while the TSX gold index dropped 1.89 points to 326.92. Most gold miners listed in Canada moved lower today. Galiano Gold Inc. (GAU) lost 13 cents to $2.21 on 428,000 shares. Meridian Mining UK Societas (MNO) struggled as well, dropping five cents to 52 cents on 830,000 shares. China Gold International Resources Corp. (CGG) did buck the trend as it added 24 cents to $9.21 on 23,000 shares.

Wendy Chan and Gary Nassif's Lode Gold Resources Inc. (LOD) rose one cent to 4.5 cents on 117,000 shares. The company has set up a subsidiary that it intends to spin off as new company that will own Lode's Yukon and New Brunswick properties. In Yukon, the company holds the Win and Golden Culvert projects, while the McIntyre Brook property is in New Brunswick.

The new subsidiary, properties in tow, would then go public as a direct listing or through a reverse takeover, say Ms. Chan, interim chief executive officer, and Mr. Nassif, senior vice-president, with the resulting entity to be called Gold Orogen Inc. "Lode Gold continues to actively execute its restructuring and growth strategy and plans to unlock value for shareholders," they say, although taking asset value from 4.5-cent Lode may be a move in the wrong direction as far as its stock price is concerned.

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