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by Stockwatch Business Reporter

New York spot gold rose $11.10 Monday, closing at $2,421.60. The TSX Venture Exchange rose 0.85 point to 594.55 while the TSX gold index dipped 0.94 point to 352.87. Most Canadian gold miners edged higher today, led by New Found Gold Corp. (NFG), which added 28 cents to $4.76 on 988,000 shares.

On the other hand, the brief bit of market optimism for Victoria Gold Corp. (VGCX) and its beleaguered Eagle mine in Yukon evaporated today, as the company's stock fell 14 cents to 72 cents on 4.43 million shares. There was no news, and the next update will arrive "in due course" -- promoter-speak for "we are not sure when and you might not like it when it comes."

Darren Hall's Calibre Mining Corp. (CXB) closed unchanged at $2.15 on 4.85 million shares. The company continues construction of its big gold mine at Valentine Lake in central Newfoundland, but its crews are still looking to expand the available ounce count. Today, Mr. Hall, president and chief executive officer, cheered plans for a 100,000-metre drill program designed to expand existing resources and potentially discover new deposits on the property. In fact, this new effort is in addition to a 50,000-metre program of ore-control drilling already slated for the Leprechaun and Marathon deposits -- two of the four main deposits upon which the Valentine mine is currently based.

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