Red Dog drives Cominco
Higher operating profits at the Red Dog mine and the Trail smelter allowed Cominco (CLT-T) to reduce its debt considerably in the first quarter.Cash flow during the 3-month period was $91 million (or …
Articles by Northern Miner Staff
NAME CHANGES (May 08, 2000)
Sand River Resources (SRL-V) has changed its name to Rio Fortuna Exploration (RFT-V) on a 1-new-for-7-old-share basis.
Miners advance without gold
The Dow Jones industrial average gave up the ground it recently gained, losing 393.70 points, or 3.5%, to close the reporting period April 26-May 2 at 10,731.12.Gold issues sparkled despite a drop in …
Metal Prices (May 08, 2000)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)Aluminium1453.50/1479.50Holiday1455/1485…
Toronto Stock Exchange Indices (May 08, 2000)
— 2000 –DateMay 2May 2…
El Peon vitalizes Meridian’s quarter
A successful startup at the El Peon mine in northern Chile enabled Meridian Gold (MDG-N) to experience a 134% rise in gold production during the first quarter. Cash operating costs for the period wer…
Grupo Mexico OKs offering
At its recent annual meeting, held in Mexico City, Grupo Mexico authorized the issuance of up to 70 million shares of new stock.Current shareholders can subscribe to the new Series B stock at 50 pesos…
Zamora to boost output
The Campanillas gold operation in southeastern Ecuador will undergo a five-fold expansion.Zamora Gold (ZMRA-C) has purchased a 3-by-4-metre ball mill, a cone crusher, eight cyclones and six new flotat…
MEETINGS (May 08, 2000)
May 10 Bonanza — annual, specialMay 10 Boreale — specialMay 10 Corsair — annual, general, specialMay 10 Devlan — annual, generalMay 10 Velvet…
Inmet stays profitable in first quarter
A substantial increase in earnings from its Cayeli and Troilus mines allowed Inmet Mining (IMN-T) to earn $2.9 million, or 6 per share, on revenue of $28.1 million in the first quarter of 2000.Inmet’…
Stake in Cominco gives boost to Teck
Teck’s (TEK-T) 40.4% equity stake in Cominco (CLT-T) paid off handsomely in the first quarter. The latter earned $7 million (or 6 per share) on sales revenue of $168.5 million, compared with a $1.8-m…
Homestake expands Veladero gold deposit
Since announcing a reserve estimate for its Veladero gold-silver project in northern Argentina, Homestake Mining (HM-N) has discovered new zones of mineralization that could improve the economics of t…