Money well spent
While we were raking the current Ontario government over the coals last week, for spending money without the authority of the legislature, some of that same money was being dished out for a new projec…
News
Global hedge book falls
The international gold hedge book, representing the cumulative hedging activities of 85 producers and 67% of global output, fell once again in the first quarter of 2003, to 77.3 million oz. (2,404 ton…
Bema extends zone at Monument Bay
Drilling at the Monument Bay property in northeastern Manitoba has extended a portion of the Twin Lakes gold deposit.Bema Gold (BGO-T), which is earning an interest in the property under an option fro…
DRC drills Afton
Vancouver — DRC Resources (DRC-T) continues to table encouraging results from infill drilling at the Afton copper project, near Kamloops, B.C.The drilling is part of a prefeasibility study, which wil…
Yandal deadline passes
Newmont Mining has had partial success sorting out the financial problems at its Yandal gold subsidiary in Australia.On March 27, Newmont brashly gave its hedging counterparties and its noteholders at…
Golds add spice to stale market
Vancouver — Canada’s junior exchange maintained its rally over the week ended June 3 as investors nibbled on select gold-related issues. The S&P-TSX Venture Exchange composite index tacked on 5.84 po…
Phelps Dodge settles with New Mexico
Vancouver — The world’s second-largest copper miner has reached an agreement with the state of New Mexico over financial assurances required as part of the closure of its Tyrone, Chino and Cobre oper…
Queenstake buys Jerritt Canyon, again
The sale of the Jerritt Canyon gold mine in Elko Cty., Nev., is on again, following an agreement by owners AngloGold (AU-N) and Meridian Gold (MNG-T) to take shares as partial payment from buyer Queen…
Coeur d’Alene posts loss
The first quarter of 2003 left Coeur d’Alene Mines (CDE-N) with a loss even though revenue and cash flow were substantially increased.A one-time charge of US$28.1 million for early conversion of exist…
BacTech gives Tonkin Springs a try (June 09, 2003)
Canadian-Australian junior BacTech Enviromet (YBA-V) has agreed to take a 55% interest in the past producing Tonkin Springs gold mine in Nevada’s Eureka Cty.To do so, BacTech must pay U.S. Gold (USGL-…
Shareholders OK Gold Summit deal
Shareholders of Gold Summit Mines (GST-V) have approved a reorganization that will see the company take over a large land package in Nevada and California.The reorganization includes a one-for-five ro…
Anaconda signs deal at Damoti Lake
Doublestar Resources (DSR-V) and Anaconda Gold (ANX-V) have inked a deal that could see the latter earn a 55% stake in the Damoti Lake project, 200 km north of Yellowknife.To do so, Anaconda must spen…