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by Stockwatch Business Reporter
New York spot gold fell $10.40 to $1,347.30 on Thursday. The TSX Venture Exchange dropped 7.47 points to 886.12 while the TSX Gold Index slid 4.22 points to 199.77. Canadian golds moved lower today, led by Iamgold Corp. (IMG) which lost 38 cents to $7.47 on 4.27 million shares, and McEwen Mining Inc. (MUX), which lost 18 cents to $2.90 on 1.21 million shares.
Matthew Hornor's Maple Gold Mines Ltd. (MGM), unchanged at 30 cents on 695,000 shares, is promising a revised resource estimate for its Douay gold project, 50 kilometres southwest of Matagami in Quebec. Mr. Hornor, president and chief executive officer, says to expect the update early this year, although he qualifies the timing to be in the coming weeks during the first quarter. The update could be significant, as Mr. Hornor points out that none of the 23,000 metres drilled last year were included in the previous calculation, hardly asurprise, since it carried a mid-February date.
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