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by Stockwatch Business Reporter

New York spot gold lost $24.60 on Wednesday, closing at $2,336.30. The TSX Venture Exchange dropped as well, slipping 2.01 points to 609.02, while the TSX gold index shed 5.83 points to 324.98. Several gold miners moved lower with vigour. Taseko Mines Ltd. (TKO) fell 17 cents to $3.88 on 855,000 shares despite a four-week silence. Lundin Mining Corp. (LUN) kept it company, as it fell 63 cents to $14.34 on 4.32 million shares on a four-day silence. Eldorado Gold Corp. (ELD) was among those edging upward. It was last heard from in April but added 36 cents to $22.04 on 458,000 shares today.

Lew Lawrick's Magna Terra Minerals Inc. (MTT) closed unchanged at 3.5 cents on 598,000 shares following a halt called to cheer an arrangement granting Sean Kingsley's Gold Hunter Resources Inc. (HUNT) an option to buy 100-per-cent interests in the Viking and Great Northern projects in western Newfoundland. Magna Terra will get $9.5-million over a two-year period -- $1.5-million in cash and $8-million in stock.

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