The markets stand corrected
The shock in the bullion markets at the end of January left some people wondering if the long-awaited gold bull had met a sudden end.What caused the US$10 drop was an announcement from the Federal Ope…
News
LME Warehouse Levels (February 09, 2004)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Feb. 3 (change from Jan. 26 in brackets):MetalStock(tonnes)ChangeAluminium1442150(-98…
Apex raises US$161m
The report period Jan. 28-Feb. 3 may have been more remarkable for what didn’t happen than for what did. Reaction to the U.S. Federal Reserve’s Open Market Committee dominated the U.S. equity markets …
People (February 09, 2004)
Alcoa — Tomas Sigurdsson appointed managing director of Fjardaal plant in Iceland.Argosy Minerals — Peter Lloyd appointed chairman.Banro Corp. — John Clarke appointed director.
Copper Ridge funds work at Quitovac
Vancouver — Copper Ridge Explorations (KRX-V) has closed a $1.9-million short-form offering, with most of the proceeds earmarked for initial exploration of the Quitovac gold property in Mexico’s Sono…
Daily Metal Prices (February 09, 2004)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateFeb. 3Feb. 2Jan. 30Jan. 29Jan. 28Al Alloy1505/1535…
Broad market recovers on buying spurt
Buyers outpaced sellers over the Jan. 28-Feb. 3 report period to push the S&P-TSX composite index up 72.55 points. The benchmark finished the week at 8,660.70.Gold had a rather bi-polar week, soaring …
Junior exchange grinds to a halt
Vancouver — Canada’s junior exchange lost ground over the week ended Feb. 3 as investors moved into tech stocks, with gold idling at US$400 per oz. The S&P-TSX Venture Exchange composite index closed…
Diamonds in Canada
The chances of finding a diamond mine in Canada are much greater than in the rest of the world, according to Robert Boyd, president and CEO of Ashton Mining of Canada, who spoke at the recent Cordille…
Barrick reworks Highland deal (February 09, 2004)
Barrick Gold (ABX-T) has decided to take a smaller stake in Russian-based Highland Gold Mining than previously planned, preferring instead to invest directly in mines in the world’s largest country.Ba…
African rains dampen Iamgold’s output
All in all, 2003 was a productive year for Iamgold (IMG-T), which cranked out 421,000 attributable ounces at a weighted cash cost of US$225 per oz.Still, output was 2% lower and cash costs 5% higher t…
Time to improve permitting
We begin the new year in anticipation of positive things for mining in Nevada. It appears metal prices are recovering from their years-long slump and that the overall economy of the state, despite cha…