Miramar expands Suluk zone at Hope Bay
Vancouver — The latest results have prompted Miramar Mining (MAE-T) to drill an additional 8,200 metres in the Madrid area on the Hope Bay gold property in Nunavut.President Anthony Walsh says the Su…
News
Junior market continues to climb
Vancouver — Canada’s junior exchange gained some steam during the week ended May 20. The S&P-TSX Venture Exchange composite index tacked on 10.56 points, or 0.96% of its value, to close at 1,078.96.S…
Broad market crawls ahead, gold rallies
The Toronto Stock Exchange composite index began the holiday-shortened May 26-June 1 report period on an uptick, then moved sideways. By the period’s end, it had risen 29.2 points to settle at 6,732.1…
Iamgold earnings bolstered by acquisitions
First-quarter earnings at Iamgold (IMG-T) rose year-over-year in 2003, partly as a result of higher gold prices and partly because production from the Tarkwa and Damang mines in Ghana is now part of I…
American Bonanza eyes Arizona’s high-grade potential
Having completed a $4-million equity financing at the first of the year, which saw Goldcorp (G-T) acquire a 10% stake in the company, American Bonanza Gold Mining (BZA-V) is in the midst of an undergr…
Northern Empire and Stornoway will tie knot
In the wake BHP Billiton’s (BHP-N) decision to buy a minority stake in the Melville Peninsula diamond play in Nunavut, Northern Empire Minerals (NEM-V) and Stornoway Ventures (SWV-V) have agree…
New gold trusts launched
With gold prices on the rise, several gold-bullion investment vehicles are sprouting up in Canada, the U.S. and Australia.In Canada, the managers behind North America’s only publicly traded bullion fu…
McWatters raises more cash (May 26, 2003)
The underwriters of a public equity offering have exercised an over-allotment option, netting McWatters Mining (MWA-T) another $639,200 in proceeds.In early April, McWatters issued 136.2 million treas…
Lakota, Gold Fields strike deal
South African mining house Gold Fields (GFI-N) has taken an option on the land package recently consolidated by Lakota Resources (YLA-V) in the Lake Victoria gold district of Tanzania.Under the terms …
Daily Metal Prices (May 26, 2003)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateMay 20May 19May 16May 15May 14Al Alloy1385/1380…
BC promotes mineral investment
The government of British Columbia will spend $1.2 million over two years to fund a geoscience program designed to stimulate mineral exploration.The Rocks to Riches program will be managed by the Brit…
New zone at Penasquito
Vancouver — Western Silver (WTC-T), formerly Western Copper, has discovered a new polymetallic zone on its wholly owned Penasquito property in Zacatecas state, Mexico.The zone, known as La Palma, is …