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by Stockwatch Business Reporter

New York spot gold fell $7.80 to $3,292.20 on Wednesday. The TSX Venture Exchange lost 0.51 point to 702.40 while the TSX gold index added 5.68 points to 482.55. Aya Gold & Silver Inc. (AYA) helped lead the advance, as it added 55 cents to $12.27 on 1.57 million shares. Novagold Resources Inc. (NG) also did well, adding eight cents to $4.95 on 1.15 million shares. K92 Mining Inc. (KNT) was among the laggards, as it slipped seven cents to $14 on 794,000 shares today.

Keith Boyle and Melissa Render's New Found Gold Corp. (NFG) leapt 25 cents to $2.04 on 5.21 million shares following word late yesterday of a big equity placement. The company was offering 21.4 million charity flow-through shares at $2.29 apiece, which would add $49-million to the company's treasury -- $56.35-million if the underwriters exercised their full greenshoe option. As well, New Found Gold said it would be offering 12.27 million regular shares at $1.63 apiece, good for an additional $20-million.

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