Lending Rates (April 28, 2003)
as of 4 pm ET, Apr. 22, 2003(%)Bank of Canada3.50Canadian Prime5.00U.S. Discount Primary2.25U.S. Fed Funds1.25U.S. Prime4.25LIBOR US$ 3-month1.32LIBOR US$ 6-month1.32LIBOR US$ 1-year1.42Gold …
News
US mineral output stagnant
The value of mineral-based materials produced in the U.S. in 2002 was US$373 billion, almost the same as in the previous year, according to a report from the U.S. Geological Survey.The lack of improve…
McWatters connects dots at Kiena
The final batch of results from winter drilling has brought McWatters Mining (MWA-T) a step closer to resuming production at the suspended Kiena gold mine, near Val d’Or, Que.McWatters, which depleted…
Flooding sidelines McArthur River
Cameco (CCO-T) says the water-inflow problems at its McArthur River uranium mine in Saskatchewan will force production to shut down for 4-6 months while repairs are made.Situated 620 km north of Saska…
Gahcho Kue study falls short
The Gahcho Kue diamond project in the Northwest Territories is remaining on the back burner after an updated desktop study by De Beers failed to meet a critical 15% internal rate of return required to…
Diversification boosts Teck Cominco (April 28, 2003)
Vancouver — An improved operating performance at the Trail smelter in British Columbia, combined with an 18% jump in the price of bullion, propelled the world’s largest zinc producer to a profit in t…
Tournigan explores in Northern Ireland and El Salvador
Vancouver — Tournigan Gold (TVC-V) has raised $1.25 million in a brokered, short-form financing, with proceeds earmarked for projects in Northern Ireland and El Salvador.The company placed 5 million …
Exchange Rates (April 28, 2003)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateApril 22April 21April 18April 17April 16US$ in C$1.44711.4544Holiday…
Producer and Dealer Prices (April 28, 2003)
Antimony: Mid-mkt US$2,530/t.Bismuth: Mid-mkt US$2.85/lb.Cadmium: Mid-mkt US$0.65/lb.Cobalt: Recent trades US$8.75-9.50/lb.Copper: Comex May US$0.7215/lb.Indium: Indium Corp., ingot, US$140/kg.Iridium…
Canadian Royalties pegs Mesamax resource
Vancouver — An independent resource estimate for the Mesamax zone has verified the economic potential of the Expo-Ungava nickel-copper-platinum-palladium property in northern Quebec.Glenn Mullan, pre…
Spot Prices Wednesday April 23, 2003 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$333.80+9.95Silver$4.57+0.08Platinum$638.00+14.00…
Financing mining in Quebec
In 2002, mining investment in Quebec amounted to roughly $752 million, a significant drop from the $1.2 billion recorded in 2001. The decline can be explained mostly by the completion of three major m…