Spot Prices Wednesday February 26, 2003 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold $352.55+5.35Silver $4.63+0.05Platinum $677.00+5.00…
News
Pan American posts record output (March 03, 2003)
Vancouver — Thanks to its mainstay Huaron mine in Peru, Pan American Silver (PAA-T) produced a record 7.8 million oz. silver from its four mines in 2002, a 12% rise from the 2001 total.The company ma…
Golds slip in bouncy trading
U.S. markets had a bouncy week, with the Dow Jones Industrial Average covering a 150-point spread in the report period Feb. 19-25, before settling at 7,909.50. The golds were down and the base metal p…
Inmet broadens search at Aussie base metal find
Having determined that the Jaguar high-grade base metal find in Western Australia is too small to develop as a stand-alone operation, Inmet Mining (IMN-T) is exploring the surrounding property for fur…
Shareholders approve Fording plan (March 03, 2003)
The plan of arrangement under which coal producer Fording (FDG-T) would be converted into an income trust has received shareholder approval at a special meeting in Calgary, allowing Fording to combine…
Agreement will standardize African mining codes
African mining ministers have agreed to standardize mining codes across the continent in an effort to attract greater foreign investment.Phumzile Mlambo-Ngcuka, the South African minister of minerals …
Brisas gets regulatory nod
Venezuela’s Ministry of Energy and Mines has approved an operating plan for the Brisas gold deposit in Bolivar state, opening the way for development by Gold Reserve (GLR-T).Brisas, with proven and pr…
Lending Rates (March 03, 2003)
as of 4 pm ET, Feb.25, 2003(%)Bank of Canada3.00Canadian Prime4.50U.S. Discount0.75U.S. Fed Funds1.25U.S. Prime4.25LIBOR US$ 3-month1.34LIBOR US$ 6-month1.34LIBOR US$ 1-year1.39Gold lease 3-m…
MOST ACTIVE ISSUES, FEB. 19-25
ExchgVol(000s)HighLowCloseChangePlacer DomeT2085016.5413.8413.89-2.03…
Falconbridge grounds Kidd for eight weeks (March 03, 2003)
Citing a poor zinc market, Falconbridge (FL-T) is extending to eight weeks the planned closure of its refining operations at the Kidd metallurgical site in Timmins, Ont.Daniel Picard, general manager …
Exchange Rates (March 03, 2003)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateFeb. 25Feb. 24Feb. 21Feb. 20Feb. 19US$ in C$…
Broad market flops as gold surges
The S&P-TSX composite index continued its downward spiral over the Feb. 19-25 report period, slipping 89.45 points to 6,503.10.Not even a surge in spot gold could save producers: Placer Dome plummeted…