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by Stockwatch Business Reporter
The slide continues: New York spot gold lost another $21.60 Tuesday, closing at $2,597.50. The TSX Venture Exchange followed bullion lower again today, dropping 3.69 points to 597.70 while the TSX gold index lost another 5.68 points to 341.74. Iamgold Corp. (IMG), $8.17 in intraday trading on Friday, fell hard yesterday and shed another 24 cents to $7.02 on 2.94 million shares today. There were a few northbound today. One was Avino Silver & Gold Mines Ltd. (ASM), which added five cents to $1.53 on 468,000 shares.
Scott Berdahl's Snowline Gold Corp. (SGD) lost 11 cents to $5.30 on 157,000 shares on assays from another eight holes drilled in the Valley zone of its Rogue project in east-central Yukon. The headline hit was a 380.4-metre near-surface intercept that graded 1.06 grams of gold per tonne, which was aided by a 51-metre midsection that ran two grams per tonne. Or perhaps top billing should go to a 219.1-metre near-surface intercept that averaged 1.4 grams per tonne, aided by a 72-metre near-surface layer that returned 2.11 grams per tonne. (Three other holes delivered lengthy hits, but with lesser grades.)
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