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by Stockwatch Business Reporter
New York spot gold jumped $11.50 to $1,922.10 on Friday. The TSX Venture Exchange added 2.7 points to 590.78 while the TSX gold index rose 5.47 points to 277.02. Most Canadian gold miners were silent but nevertheless did well today. Iamgold Corp. (IMG) jumped 22 cents to $3.45 on 7.1 million shares while Pan American Silver Corp. (PAAS) rose 38 cents to $22.38 on 4.04 million shares. They had plenty of company, with Agnico Eagle Mines Ltd. (AEM) gaining $1.40 to $66.41 on 4.29 million shares, also without benefit of news.
Warren Rehn and Jeffrey Clevenger's Golden Minerals Co. (AUMN) fell five cents to 87 cents on 66,000 shares. The company is contemplating a drill program recommended in its recently completed preliminary economic assessment of the Velardena project in Durango, Mexico. The plan proposes Golden Minerals complete 9,000 metres of drilling, a $500,000 (U.S.) program that would target the Terneras, San Mateo, Roca Negra and A4 veins. This drilling, downdip of existing inferred resources, would presumably expand the available ounce count.
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