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by Stockwatch Business Reporter
New York spot gold fell $14.50 on Monday, closing at $2,318.30. The TSX Venture Exchange dropped 1.16 points to 572.93 while the TSX gold index lost 0.57 point to 308.42. Most Canadian gold miners moved lower, but a few bucked the trend. Endeavour Silver Corp. (EDR) added 11 cents to $5.01 on 1.18 million shares while Artemis Gold Inc. (ARTG) added 13 cents to $9.89 on 177,000 shares. McEwen Mining Inc. (MUX) helped lead the southbound trek. It fell 88 cents to $13.88 on 70,000 shares. Another energetic in decline was Novagold Resources Inc. (NG), which fell 37 cents to $4.43 on 445,000 shares.
Robex Resources Inc. (RBX) took a tumble, dropping 46 cents to $2.09 on 15,000 shares, but it had news to propel the decline. Robex said, following a brief halt, that it has "a strategic plan, subject to a successful equity financing, one designed to realize its goal of becoming a leading gold producer in West Africa." Essentially, the company is selling a lot of stock, is selling its assets in Mali and -- for good measure -- has shuffled its management.
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