Extra items bolster Placer Dome’s earnings
Vancouver — Extraordinary items propelled Placer Dome (PDG-T) to a US$66-million (US16-per- share) profit for the second quarter of 2003.The surging profit included a US$16-million derivative gain a…
News
Rising rand hits African gold miners
Vancouver — Africa’s biggest gold producers felt the impact of a falling U.S. dollar during the second quarter.AngloGold (AU-N) earned US$66 million in the three months ended June 30, or 11% less tha…
Norilsk seeks larger Stillwater holding
Russian nickel giant Norilsk Nickel (NILSY-O) has announced an offer for another 4.3 million shares of palladium-platinum producer Stillwater Mining (SWC-N).The bid, which expires Aug. 19, allows mino…
Pele lures De Beers to Wawa (August 11, 2003)
The Canadian exploration arm of De Beers has entered into an option agreement with Toronto-based Pele Mountain Resources (GEM-V) at the latter’s 100-sq.-km Festival diamond property, 25 km north of Wa…
Letting in some light
“Sunshine is the best disinfectant.”– James Gallagher, first president of the Canadian Trading and Quotation System, in late 2001.This newspaper was one of those voices that bayed loudest for tight r…
Barrick sees operating cash flow shrink
Lower production and higher costs at the Meikle mine in Nevada prevented Barrick Gold (ABX-T) from realizing stellar earnings in the quarter ended June 30.The major reported a profit of US$59 million …
Ken Barr remembered
I first met Ken Barr in 1983, when I was relatively new to the investment business, at least from the position of advising individual investors on their portfolios. Given my background in geology and …
Vanadium on the rebound
In the first quarter of 2003, the vanadium market finally showed signs of improving, according to a report by British market analyst Roskill. The improvement followed an extended period of chronic ove…
Noranda reorganizes south of border
Noranda has reorganized its U.S.-based recycling operations into a new company in an attempt to boost sales.Noranda Recycling, based in San Jose, Calif., will have about 200 emloyees, with plants situ…
Gold Fields doubles Radius stake (August 11, 2003)
Vancouver — South African-based Gold Fields (GFI-N) now holds a 12.9% stake in junior Radius Explorations (RDU-V).The major, which currently lays claim to 3.6 million shares of the Simon Ridgway-led …
Odyssey renews Altintepe drilling (August 11, 2003)
Odyssey Resources (ODX-V) has resumed drilling at the Altintepe gold project in north-central Turkey.The current work is focused on the Seyliktepe and Karakis areas, where 500-700 metres are planned. …
Aquiline sums up Calcatreu
With the final drill results now in hand, Aquiline Resources (AQI-V) has begun an independent resource estimate of the Calcatreu gold project in Argentina.The study, which will incorporate historic an…