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by Stockwatch Business Reporter

New York spot gold rose $22.20 to close at $2,762.70 on Tuesday, while the TSX Venture Exchange added 6.59 points to 609.43 and the TSX gold index moved 3.2 points higher to 375.27. Wesdome Gold Mines Ltd. (WDO) helped lead the advance, adding 35 cents to $14.01 on 502,000 shares. Equinox Gold Corp. (EQX) tagged along, adding 22 cents to $8.37 on 1.91 million shares.

Lundin Mining Corp. (LUN) parted ways with bullion today. It fell 32 cents to $11.70 on 6.84 million shares on word it was "preannouncing certain items impacting the company's quarterly earnings." By announcing the preannouncement, Lundin got the jump on bad news, noting that pricing adjustments for copper, partially offset by nickel, will result in a $46-million (U.S.) revenue hit. There were other adjustments, including net foreign exchange losses, but the market took the news largely in stride.

Frazer Bourchier's Mandalay Resources Corp. (MND) had a good day, adding 17 cents to $4.50 on 89,000 shares on word it has intercepted a 0.33-metre true-width interval at depth that averaged an eye-popping 578 grams of gold per tonne and 20.5 per cent antimony at its True Blue prospect, adjacent to its Costerfield mine in Australia. The hit worked out to 115.6 grams of gold equivalent per tonne when smoothed over a minimum mining width of 1.8 metres. Two other holes also yielded bonanza grades across narrow intervals.

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