Iamgold earnings bolstered by acquisitions
First-quarter earnings at Iamgold (IMG-T) rose year-over-year in 2003, partly as a result of higher gold prices and partly because production from the Tarkwa and Damang mines in Ghana is now part of I…
News
McWatters raises more cash (May 26, 2003)
The underwriters of a public equity offering have exercised an over-allotment option, netting McWatters Mining (MWA-T) another $639,200 in proceeds.In early April, McWatters issued 136.2 million treas…
Northern Empire and Stornoway will tie knot
In the wake BHP Billiton’s (BHP-N) decision to buy a minority stake in the Melville Peninsula diamond play in Nunavut, Northern Empire Minerals (NEM-V) and Stornoway Ventures (SWV-V) have agree…
Lakota, Gold Fields strike deal
South African mining house Gold Fields (GFI-N) has taken an option on the land package recently consolidated by Lakota Resources (YLA-V) in the Lake Victoria gold district of Tanzania.Under the terms …
Daily Metal Prices (May 26, 2003)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateMay 20May 19May 16May 15May 14Al Alloy1385/1380…
BC promotes mineral investment
The government of British Columbia will spend $1.2 million over two years to fund a geoscience program designed to stimulate mineral exploration.The Rocks to Riches program will be managed by the Brit…
New zone at Penasquito
Vancouver — Western Silver (WTC-T), formerly Western Copper, has discovered a new polymetallic zone on its wholly owned Penasquito property in Zacatecas state, Mexico.The zone, known as La Palma, is …
Drybones Bay kimberlite yields stones
A kimberlite discovery in the Drybones Bay area, southwest of Yellowknife, N.W.T., has proved diamondiferous.New Shoshoni Ventures (NSV-V) found the DB-2 body during a winter drilling campaign designe…
Eldorado revises estimates at Sao Bento
Vancouver — A capital expansion plan, combined with the strengthening Brazilian currency, has led Eldorado Gold (ELD-T) to revise its anticipated gold production and production costs at the Sao Bento…
Protest won’t affect business: Tiffany & Co.
A protest in early May by the United Steelworkers of America (USWA) outside Tiffany & Co. in Chicago, Ill., will not affect the flow of silver and gold to the luxury goods retailer from Kennecott Utah…
AngloGold eyes top spot with Ashanti takeover
Looking to regain top spot among global gold producers, South Africa’s AngloGold (AU-N) has entered talks aimed at achieving a merger with Ghana-based Ashanti Goldfields (ASL-N).The talks are centred …
Fortune drilling cuts high gold grades (May 26, 2003)
Infill drilling by Fortune Minerals (FT-T) on the Nico polymetallic deposit, 160 km northwest of Yellowknife, N.W.T., has intersected high gold grades.Fortune, which has a 35-hole program under way to…