Lending Rates (February 10, 2003)
as of 4 pm ET, Feb.4, 2003(%)Bank of Canada3.00Canadian Prime4.50U.S. Discount0.75U.S. Fed Funds1.25U.S. Prime4.25LIBOR US$ 3-month1.35LIBOR US$ 6-month1.35LIBOR US$ 1-year1.44Gold lease 3-mo…
News
Canada should take tougher line with Mugabe Hope fades in Zimbabwe
There appears to be no substance to recent reports that leading figures in Zimbabwe’s dictatorial governing party, the African National Union (ZANU-PF), had agreed to a deal under which President Robe…
Stronger gold pays off in Burkina Faso
The recent surge in the price of gold has revitalized exploration in Burkina Faso, a pocket of Africa known more for its poverty than for its wealth of mineral resources.Burkina Faso first emerged as …
Cambior builds Rosebel mine
Cambior (CBJ-T) has begun building the Rosebel gold mine in northern Suriname, with political risk coverage underwritten by a group including Export Development Canada.Cambior will spend US$95 million…
Canadian Stock Exchange Indices (February 10, 2003)
DateFeb. 4Feb. 3Jan. 31Jan. 30Jan. 29HighLowTSX Composi…
Daily Metal Prices (February 10, 2003)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateFeb. 4Feb. 3Jan. 31Jan. 30Jan. 29Al Alloy1445/1420…
Olympus resumes drilling
Vancouver — Armed with a $625,000 financing, Olympus Pacific Minerals (OYM-V) has resumed drilling at its Phuoc Son gold project in central Vietnam.The current, 2,400-metre infill program is focused …
People (February 10, 2003)
Alcoa — William Christopher appointed executive VP and group president for Alcoa Aerospace, Automotive and Commercial Transportation; Paul Thomas appointed VP of Alcoa and president of North American…
Great Basin drills Burnstone (February 10, 2003)
Vancouver — Great Basin Gold (GBG-V) has launched a 5-rig, 20,000-metre diamond drilling program over its newly acquired Burnstone property, 100 km southeast of Johannesburg, South Africa.The project…
Philex disappoints
Vancouver — Drill results from Philex Gold’s (PGI-V) Boyongan deposit in the Philippines have prompted operator Anglo American (AAUK-Q) to seek additional tonnage on the surrounding North property.Al…
Goldcorp buys into American Bonanza
Vancouver — High-grade miner Goldcorp (G-T) has taken a 10.4% stake in the junior explorer that holds the Copperstone project in southwestern Arizona.That company, American Bonanza Gold Mining (BZA-V…
Ontario spends $10m on mine rehab
The Ontario government will spend $10 million this year on a program designed to rehabilitate abandoned mines.The work is being carried out under the $27-million Abandoned Mines Rehabilitation Program…