Chinese demand buoys aluminum market
(The following excerpt from The Commodity Refiner, a monthly publication of Barclays Capital Research, provides an overview of the current aluminum market.)Primary aluminum prices continue to perform …
News
Spot Prices Wednesday August 6, 2003 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$352.65-6.45Silver$4.93-0.17Platinum$684.00-9.00P…
Glamis lowers gold output
Vancouver — A production shortfall at its flagship San Martin mine in Honduras resulted in relatively flat profits for Glamis Gold (GLG-T) in the second quarter.The Reno-based company posted net inco…
Castleworth drills Pan (August 11, 2003)
Vancouver — The first drill results from an ongoing program indicate an expansion of the resource at the Pan gold project in Nevada.Castleworth Ventures (WTH-V) has intersected encouraging values in …
LME Warehouse Levels (August 11, 2003)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Aug. 5 (change from July 29 in brackets):MetalStock(tonnes)ChangeAluminium1307100(+13…
Exchange Rates (August 11, 2003)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateAug. 5Aug. 4Aug. 1Aug. 31Aug. 30US$ in C$1.4043Holiday1.39641.407…
Lending Rates (August 11, 2003)
as of 4 pm ET, Aug. 5, 2003(%)Bank of Canada3.25Canadian Prime4.75U.S. Discount Primary2.00U.S. Prime4.00LIBOR US$ 3-month1.14LIBOR US$ 6-month1.21LIBOR US$ 1-year1.41Gold lease 3-month0.14Go…
Canadian Stock Exchange Indices (August 11, 2003)
DateAug. 5Aug. 4Aug. 1July 31July 30HighLowTSX Composite7189.54…
The Northern Miner Indices (August 11, 2003)
North American Mining: 81.12 (+0.44)Small Producers: 82.45 (+1.06)(Sept. 30/98 = 100)…
Rally stalls
U.S. markets backed off the summer rally during the reporting period July 30-August 5, with the Dow Jones Industrial Average sliding 168.14 points to close at 9,036.32.It wasn’t a bad five days for th…
Extra items bolster Placer Dome’s earnings
Vancouver — Extraordinary items propelled Placer Dome (PDG-T) to a US$66-million (US16-per- share) profit for the second quarter of 2003.The surging profit included a US$16-million derivative gain a…
Rising rand hits African gold miners
Vancouver — Africa’s biggest gold producers felt the impact of a falling U.S. dollar during the second quarter.AngloGold (AU-N) earned US$66 million in the three months ended June 30, or 11% less tha…