Falco earnings rise, taxes fall
Falconbridge (FL-T) saw its second-quarter earnings jump 45% to $56 million, reflecting higher nickel prices and a one-time $12-million tax recovery relating to changes in federal resource-sector taxa…
News
Coeur advances Kensington
The best news of the period for U.S.-based miners was Coeur d’Alene Mines’s signing of a memorandum of understanding with Alaska and U.S. agencies to grant environmental permits for the company’s prom…
Junior exchange stages mid-summer rally
Vancouver — Canada’s junior exchange sprinted to yet another new yearly high during the week ended July 29. The S&P-TSX Venture Exchange composite index jumped 61.45 points, or 5.4%, and closed at 1,…
Exchange Rates (August 04, 2003)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateJuly 29July 28July 25July 24July 23US$ in C$1.38551.38191.38121.3…
Globex options out Russian Kid
Globex Mining Enterprises (GMX-T) has optioned the Russian Kid gold deposit, near Rouyn-Noranda, Que., to Dasserat Resources.To acquire the property, privately held Dasserat must make option payments …
Low-cost El Peon drives Meridian
Second-quarter earnings at Meridian Gold (MNG-T) were somewhat lower than in 2002, but low costs at the El Penon mine kept the company well in the black. For the three months ended June 30, Meridian e…
Northern Miner Indices (August 04, 2003)
Barrick GoldABX-T19.4%CamecoCCO-T3.6%FalconbridgeFL-T4.7%Freeport McM BFCX-N7.1%GoldcorpG-T4.4%IncoN-T7.8%Kinross GoldK-T4.3%Newmont MiningNEM-N24.1%NorandaNRD-T4.6%Phelps DodgePD-N…
South Africa produces less gold (August 04, 2003)
South African gold production in the first quarter of 2003, at 2,963,824.9 oz. was down 2.7% compared with the corresponding period of 2002. Moreover, production was down 6.8% from the quarter ended D…
Cambior pulls gold at Westwood
Drilling by Cambior (CBJ-T) at its Westwood property in northwestern Quebec has intersected gold mineralization at depth that appears to correlate with known zones at the Doyon gold mine, 2 km to the …
Producers jump with Metal Prices
Higher metal prices and a slew of earnings results pushed resources stocks generally higher over the July 23-29 report period. The gold and precious metals group finished the week 4.79 points ahead, a…
Trading Summary (August 01, 2003)
Trading on the Toronto Stock Exchange was heavy for a Friday heading into a long weekend, as the TSX Composite inde…
Currency exposure hits Gold Fields profit
Vancouver — South Africa’s third biggest gold producer posted a profit of US$93 million in the latest quarter, dow…