Northern Miner Indices (April 30, 2001)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)Barrick GoldABX-T19.3ComincoCLT-T5.1FalconbridgeFL-T6.7Franco-Nevada MiningFN-T6.3Freeport McMoRan Cop’r BFCX-N6.7Homestake MiningHM-N4….
Articles by Northern Miner Staff
Anglo hits at Boyongan
Vancouver — Partners Anglo American (AAUK-Q) and Philex Gold (PGI-V) appear to have intersected a rare geological event at the Boyongan prospect on the Philippine island of Mindanao. The latest drill…
MK Gold permits Las Cruces
Armed with a positive feasibility study by Bechtel International, MK Gold (MKAU-O) is working to bring its Las Cruces copper deposit into production.The wholly owned project is on the eastern margin o…
Medinah funds Alto de Lipangue
Denver — Medinah Mining (MDMN-O) has raised US$5 million for development of the Alto de Lipangue gold-copper project in Chile by selling a 25% stake in the property to London-based Venture Capital Co…
Base metal miners start year in the black
The April 18-24 report period saw Canada’s biggest base metal producers issue a string of relatively healthy first-quarter earnings reports.Inco announced it had earned US$85 million or US42 a share …
Markets show modest gains
Given the numerous positive factors that emerged during the report period April 16-20, price gains in the metals markets were modest. Nickel led the way, but the average cash price gained only 1.5%; c…
Higher gold grades a boon for Freeport
Denver — Despite lower-than-anticipated metal prices, Freeport-McMoRan Copper & Gold (FCX-N) pocketed a profit of US$38 million, or 26 per share, in the first quarter.The Louisiana-based major, whic…
Radius seeks Guatemalan gold
Vancouver — Radius Explorations (RDU-V) is about to begin a first phase of reverse-circulation drilling at the Tambor gold project in Guatemala.The 20-hole, 2,500-metre program will focus on the Brid…
NB gold prospect shows potential
Sackville, N.B. — Drilling by Freewest Resources Canada (FWR-M) has encountered a broad intercept of high-grade gold mineralization at the Clarence Stream property in southwestern New Brunswick.While…
Banner year for Sullivan
MAY 1951Sullivan Consolidated registered its best year since 1943, after taking into account the added revenue from the East Sullivan gold mine in Bourlamaque Twp., near Val d’Or, Que.Total profit in …
Rate cut propels market rally
Denver — The Dow Jones industrial average continued climbing after the U.S. Federal Reserve announced a surprise interest rate cut of 0.5%. The market finished the April 18-24 report period up 237.61…
Metal Prices (April 30, 2001)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateApril 24April 23April 20April 19April 18Aluminium15…