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by Stockwatch Business Reporter

New York spot gold slipped $17 Wednesday, closing at $2,447.20. The TSX Venture Exchange added 2.63 points to 548.29 while the TSX gold index dropped 1.5 points to 355.39. Aris Mining Corp. (ARIS) was in retreat, dropping 23 cents to $5.55 on 2.1 million shares. The company declared earnings of $5.7-million (U.S.), which it pleasantly adjusted to $12.7-million (U.S.), but investors had adjusted their expectations higher still.

There were bigger moves. Paul Brink's Franco-Nevada Corp. (FNV) shed $10.73 to $160.58 on 1.75 million shares on its second quarter financials. The company reported production of just over 110,000 gold equivalent ounces in the quarter, a hefty drop from the over 168,000 ounces managed a year ago. Yes, much of the drop had been expected, as the company owns an interest in the Cobre Panama mine, which was ordered closed by the Panamanian government last year. Even so, nearly half the drop was the result of poorer production from its Candelaria and Antapaccay operations.

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