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by Stockwatch Business Reporter

New York spot gold fell $4.60 Wednesday, closing at $2,386.10. The TSX Venture Exchange fell 8.94 points to 533.73 while the TSX gold index dropped 10.66 points to 331.30. Most Canadian gold miners moved lower with bullion today. Kinross Gold Corp. (K) shed 65 cents to $11.17 on 6.02 million shares and Lundin Mining Corp. (LUN) dropped 70 cents to $12.04 on 5.72 million shares. They had plenty of company, including Ero Copper Corp. (ERO) which fell $1.76 to $24.90 on 748,000 shares.

Garrett Macdonald's Maritime Resources Corp. (MAE) lost one-half cent to four cents on 1.77 million shares on word it is raising $8-million through a rights offering. Shareholders will get nearly 0.4 of a right -- 0.39497679 for those fans of pi and other irrational numbers -- with one full right allowing the holder to buy a new Maritime share at 3.4 cents per share. That is a tidy discount, and much of that discount may go to a backstopper, Dundee Corp. (DC.A: $1.34), which guarantees that the rights will be exercised.

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