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by Stockwatch Business Reporter

New York spot gold fell $91.60 to close at $2,624.30 on Monday. The TSX Venture Exchange lost 3.24 points to 602.93 while the TSX gold index slid 11.31 points to 354.68. Most Canadian gold miners tumbled today, although Mandalay Resources Corp. (MND) inexplicably added five cents to $3.57 on 189,000 shares in silence. Among those in headlong retreat were New Gold Inc. (NGD), which fell 25 cents to $3.72 on 4.35 million shares, and Iamgold Corp. (IMG), which dropped 51 cents to $7.48 on 3.79 million shares.

St. Valentine's Day came early for shareholders of Darren Hall's Calibre Mining Corp. (CXB). Calibre bucked the downdraft, adding nine cents to $2.44 on 13.41 million shares on word of promising new gold mineralization, a full kilometre beyond the company's resource at Valentine, its mine-to-be in central Newfoundland that is still under construction. The new hits are from the Frank zone, southwest of Leprechaun -- one of five deposits at Valentine Lake. Three of those deposits -- Marathon, Barry and Leprechaun -- are part of the mine plan. The two others, Victory and Sprite, are small, and Frank could soon leapfrog them on the priority list.

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