This item is part of Stockwatch's value added news feed and is only available to Stockwatch subscribers.

Here is a sample of this item:

by Stockwatch Business Reporter

New York spot gold lost $11.90 to $3,011.50 on Monday. The TSX Venture Exchange added 5.97 points to 643.76 while the TSX gold index shed 3.77 points to 439.08. There were some active traders: Omai Gold Mines Corp. (OMG) lost one-half cent to 43.5 cents on 1.89 million shares, while Vizsla Silver Corp. (VZLA) fell five cents to $3.32 on 1.53 million shares.

Dave Webb's Sixty North Gold Mining Ltd. (SXTY), up one cent to 14 cents on 115,000 shares, has sold 1.21 million shares at 8.25 cents apiece, good for $100,000 of the $250,000 it set out to raise last week. This is deemed a first tranche, so the company is still hopeful of hitting its target. The cash, says Mr. Webb, president and chief executive officer, is for the Mon project in the Northwest Territories, and for working capital.

Sixty North sent a crew to Mon last week, looking to drill some volcanogenic massive sulphide targets identified from geochemical, geophysical and geological work. Mr. Webb cheers the targets as "exciting and very well defined" as large, strong conductors in an encouraging geological setting. Trench sampling several years ago returned a 0.45-metre zone with one gram of gold and 203 grams of silver per tonne, with modest amounts of zinc and lead.

The remainder is available to Stockwatch subscribers.
Sign-up for a FREE 30-day Stockwatch subscription and SEE NO ADS