Broad market hammered by Nortel forecasts
The Toronto Stock Exchange 300 index nosedived 674.8 points during the Feb. 14-20 report period to finish the week at 8,326.68. The 7.6% loss was triggered by a massive sell-off in Nortel shares after…
Articles by Northern Miner Staff
Northern Miner Indices (February 26, 2001)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)Barrick GoldABX-T20.7ComincoCLT-T4.5FalconbridgeFL-T6.3Franco-Nevada MiningFN-T5.8Freeport McMoRan Cop’r BFCX-N4.0Homestake MiningHM-N3….
Metal Prices (February 26, 2001)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateFeb. 20Feb. 19Feb. 16Feb. 15Feb. 14Aluminium1587/15…
Writedown sinks Glamis Gold in quarter
Denver — Despite producing a record amount of the yellow metal, Glamis Gold (GLG-N) reported a fourth-quarter loss of US$37.5 million (or 54 per share) after posting a US$37.5-million writedown.For …
Altius nabs more ground
Junior Altius Minerals (ALS-V) has added two properties to its promising exploration portfolio in Newfoundland.The Fortune Bay property covers 62 claims on the eastern side of the island. Localized sh…
Ivanhoe strikes South Korean gold
Four years of grassroots exploration in South Korea is paying off for Robert Friedland’s Ivanhoe Mines (IVN-T).Near Haenam Twp., in the province of Cholla, drilling outlined an epithermal vein system …
Slumping mining index burdens CDNX
Vancouver — Canada’s junior exchange continued to drift lower as all indices except oil-and-gas ended the Feb. 14-20 report period in the red. The Canadian Venture Exchange slumped 94.78 points, or 2…
Aur digests QB purchase
As the dust settles following last fall’s purchase of the large Quebrada Blanca mine in Chile, junior copper producer Aur Resources (AUR-T) is reporting a loss for 2000.Aur posted a net loss of US$15 …
CDNX catches breath after bull run
Vancouver — Canada’s junior exchange lost ground over the week ended Feb. 13 as a modest gain in the oil and gas index failed to offset a downturn in the tech sector. The Canadian Venture Exchange lo…
LME Warehouse Levels (February 19, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Feb. 13/01 (change from Feb. 6 in brackets):MetalStock (tonnes)ChangeAluminium452575(…
Wheaton River wins approval for Bellavista
Clearing its last major regulatory hurdle, Wheaton River Minerals (WRM-T) has received final environmental approval to build its Bellavista open-pit, heap-leach gold mine in Costa Rica.Situated 20 km …
Gold Fields posts strong quarter
Denver — Cost-cutting measures and the weakening of the South African rand helped Gold Fields (GOLD-Q) post a profit in the fourth quarter of 2000.The company earned US$36 million (or 8 per share) d…