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by Stockwatch Business Reporter

New York spot gold gained -- no, wait, it plunged -- $162.70 Thursday, pausing for air at $4,920.40. The TSX Venture Exchange fell 52.51 points to 983.21 while the TSX gold index slumped 65.77 points to 936.27. New Found Gold Corp. (NFG), $4.89 late last month, was downward bound today, dropping 34 cents to $3.68 on 1.15 million shares. Galiano Gold Corp. (ELD), fared worse, sliding 58 cents to $3.67 on 1.33 million shares.

Jorge Ganoza's Fortuna Mining Corp. (FVI) flopped $1.38 to $14.13 on 3.05 million shares despite new assays from the Sunbird deposit at its Seguela mine in Ivory Coast. The results, from 22 newly completed holes, returned several higher-grade intercepts, led by a 4.2-metre hit at depth that averaged 15.4 grams of gold per tonne. A second hole managed 13.9 grams per tonne across 4.9 metres while a third returned 13 grams per tonne over 4.2 metres.

Mr. Ganoza, president and chief executive officer, called upon Paul Weedon, his senior vice-president of exploration, to lead the corporate cheer. He did so by using his Howe Street voice, straying from geologese, his mother tongue: "Continued drilling at Sunbird confirms that high-grade mineralization remains wide open at depth," he enthused, adding that with five drill rigs focused on Sunbird, "these results build on previously announced high-grade drill intercepts and further underpin the potential for resource growth."

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