LME Warehouse Levels (December 29, 2003)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Dec. 19 (change from Dec. 16 in brackets):MetalStock(tonnes)ChangeAluminium1420225(+2…
News
The Lomborg roast
Ever since Danish statistician and political scientist Bjorn Lomborg wrote the best-selling The Skeptical Environmentalist, his metaphorical “Wanted” poster has adorned the walls of the environmental …
Miners hit new highs
With base metal prices rising across the board in response to a weakening U.S. dollar, U.S.-listed base metal majors basked in new multi-year highs during the 4-day period ended Dec. 22.Alcoa led the …
Gold Fields enters Peru
South Africa’s Gold Fields (GFI-N) has agreed to acquire a 92% interest in Peruvian-based Sociedad Minera La Cima. No price was reported, as financial details were still being discussed.Sociedad Miner…
Rio Blanco looks good
Prefeasibility work by GRD Minproc for London-based Monterrico Metals (MNA-L) at the Rio Blanco copper project in Peru suggests a net present value of US$320 million and an internal rate of return of …
Grasberg suffers second slide (December 29, 2003)
New Orleans-based Freeport-McMoRan Copper & Gold (FCX-N) has declared force majeure on deliveries of copper concentrate from the massive Grasberg copper-gold mine in Indonesia.The decision was made in…
Planet cashes up, McEwen cashes out
Vancouver — The closing of a $6-million bought-deal financing has given Goldcorp (G-T) a 13.4% equity stake in junior Planet Exploration (PXI-V).The high-grade gold miner picked up $2.5 million, or 4…
No mines, but lots of cash
The United Kingdom has little mining to speak of, after the demise of its metal mines and coal industry in the past century. However, despite this paucity of mining activity, London remains one of the…
Base metal miners shine
While gold producers enjoyed the limelight in early December, it was the base metal miners that powered forward during the 4-day period ended Dec. 22 as the S&P/TSX Metals and Mining index rocketed 12…
Sur samples gold-bearing skarn at Comval (December 29, 2003)
Surface exploration at the Comval property in the Eastern Mindanao mineral belt of the Philippines has turned up more of the yellow metal for Sur American Gold (SUR-V).Channel sampling at a recently d…
Trading Summary (December 24, 2003)
There was relatively heavy trading for a Christmas Eve, but the Toronto Stock Exchange finished a shortened trading…
Emgold tops up till
Vancouver In a unique move, Emgold Mining (EMR-V) aims to use a portion of the proceeds from a $7.5 million finan…