Alcoa bids for Elkem (October 07, 2002)
U.S. aluminum giant Alcoa (AA-N) has initiated a cash tender offer for 3.5 million shares in Norway’s Elkem at 175 Norwegian kroner per share, or about US$26.31 apiece.Alcoa, which currently owns 46.3…
News
De Beers boosts stake in partner
By exercising 984,000 share purchase warrants at 80 apiece, De Beers Canada Exploration has increased to 6.4% its interest in Mountain Province Diamonds (MPV-T).De Beers acquired the warrants when, i…
Hecla revises ’02 forecasts
With its operations still exceeding expectations, Hecla Mining (HL-N) has once again increased its production forecast for the current year.The Coeur d’Alene, Idaho-based silver miner now expects to h…
Goldsmithing in South Africa
AngloGold recently hosted a goldsmith training project in conjunction Electra Mining 2002, an exhibition held in Johannesburg. The highlight of the project was a visit from Bakary Yali, a Malian golds…
Barrick cuts forecast, shares plunge (October 07, 2002)
A double whammy of lowered earnings expectations and a sagging bullion price sent shares of Barrick Gold (ABX-T) reeling on Sept. 26.The company’s issue opened the day $2.42, or 8.6%, lower in Toronto…
Reed to speak at Ontario Club
Geophysical consultant Laurie Reed will discuss the Selbaie mine at a meeting of the Toronto Geological Discussion Group Oct. 22 at the Ontario Club in Toronto.The mine, situated near Villebois in nor…
LME Warehouse Levels (October 07, 2002)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Oct. 1 (change from Sept. 24 in brackets):MetalStock (tonnes)ChangeAluminium1290050(-…
Royal Gold expands royalty stable Eveolution
Denver-based royalty company Royal Gold (RGL-T) has agreed to take a 93% interest in High Desert Mineral Resources (HDR-V) in return for 1.4 million of its own shares or US$24 million in cash, or a ca…
Local group wins fight against Cogema
A small group consisting of Mennonites and members of First Nations has won its battle to nullify the operating licence of Cogema Resources’ McClean Lake uranium mine in northern Saskatchewan. The fut…
GREATEST VALUE TRADED, SEPT. 25-OCT. 1
ExchgVal($000s)HighLowCloseChangeNewmont Mng*N55367429.2526.3926.88-2.56…
Canadian Stock Exchange Indices (October 07, 2002)
DateOct. 1Sept. 30Sept. 27Sept. 26Sept. 25HighLowTSX Composite6218.616180.426111.116179.426165…
Tichegami yields one stone
A second kimberlitic find on the Tichegami property in the Otish Mountains region of Quebec has returned only one microdiamond from 23.1 kg of tested material. The project is shared by Pure Gold Miner…