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by Stockwatch Business Reporter
New York spot gold rose $27.20 Tuesday to $3,392.20. The TSX Venture Exchange rose 9.37 points to 812.44 while the TSX gold index added 10.70 points to 600.53. Most gold miners with Canadian listings moved northward today, a few with gusto. China Gold International Resources Corp. (CGG) jumped $1.90 to $17.85 on 50,000 shares in silence, and Aris Mining Corp. (ARIS) kept it company with a 77-cent gain to $10.99 on 3.96 million shares. Orvana Minerals Corp. (ORV) also shone, adding seven cents to 55 cents on 181,000 shares.
Robert Eadie's Starcore International Mines Ltd. (SAM) went the other way, falling four cents to 29 cents on 368,000 shares, but it did so on news. Starcore is seeking up to $5-million through the sale of up to 20 million shares priced at 25 cents apiece. That is a significant discount to market, so the market applied a significant discount to Starcore. The cash is needed for bulk sampling and further work at its recently acquired Tortilla project in Mexico.
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