Exchange Rates (June 09, 2003)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateJune 3June 2May 30May 29May 28US$ in C$1.37581.36951.37081.3769…
News
Castleworth boosts Pan
Vancouver — According to a new resource estimate, Castleworth Ventures’ (WTH-V) Pan deposit in Nevada contains 467,000 oz. gold.The new figure, calculated by Reno-based Mine Development Associates, m…
Apollo Gold advances projects in western United States
Vancouver — Denver-based Apollo Gold (APG-T) is gradually moving its Montana and Nevada mine projects toward commercial production.For the first quarter, Apollo Gold tabled a net loss of $1.86 millio…
Terraco assembling Nevada property package
Through a series of three property deals, Terraco Gold (TEN-V) hopes to assemble a package of drill-ready gold targets in Nevada.In a deal with Newmont Mining (NEM-N), Terraco can acquire the Tuscaror…
Dumont drills Cane Springs
A three-hole drilling program at the Cane Springs gold project in western Utah, about 100 miles southwest of Salt Lake City, has turned up altered shear zones along strike from previously known minera…
Miramar cuts bonanza grades at depth (June 09, 2003)
Vancouver — Miramar Mining (Mae-T) is buoyed by the initial results from a program aimed at testing the depth potential of the Boston deposit on the Hope Bay gold project in Nunavut.Gold-mineralized …
First Quantum profitable (June 09, 2003)
An expansion program and higher head grades enabled First Quantum Minerals (FM-T) to pump out twice as much copper cathode in the recent first quarter as a year earlier.The mid-tier producer mines the…
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…
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…