Exchange Rates (September 23, 2002)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateSept. 17Sept. 16Sept. 13Sept. 12Sept. 11US$ in C$1.57921.58251.5857…
News
Nickel laterites fail to live up to early promise
The pioneers of Australia’s nickel laterite industry set the bar way too high. Just three years ago, they were the stars of the nickel business, determined to lower the industry cost curve and revolut…
Canarc resumes Benzdorp exploration
A revised agreement with state-owned Grasshopper Aluminum has prompted Canarc Resource (CCM-T) to resume exploration at the Benzdorp gold property in Suriname.In 1996, Grasshopper granted Canarc the r…
Anaconda Nickel tables debt plan
Australian-based Anaconda Nickel has reached a deal that will see its secured creditors receive US$190 million in cash, or about US25 on the dollar, for the outstanding secured debts of its wholly ow…
War jitters send golds higher
After a quiet start on Sept. 11, the Toronto Stock Exchange’s Composite index slid a whopping 226.04 points, or 3.4% of value, to end the Sept. 11-17 report period at 6,392.26 as prospects of a U.S. a…
Redhawk restructures ZincOx relationship
ZincOx Resources of London has relinquished its right to earn a half-interest in the Remac zinc oxide project in southeastern British Columbia and sold its interest in the Torlon property in Guatemala…
Newmont to axe Aussie hedge
Australian gold miner Normandy Mining, now living under the banner of Newmont Mining (NEM-N), reports that subsidiary Newmont NFM will have eliminated its hedge book by early 2003.Since the end of 200…
Lac des les suffers setback (September 23, 2002)
Just when it looked like things were beginning to improve, North American Palladium (PDL-T) has been forced to shut down and repair the primary crusher at its Lac des les palladium-platinum mine in n…
Queenston cuts new gold
Two of the first three diamond drill holes sunk by Queenston Mining (QMI-T) at its Kirkland Lake gold project in northeastern Ontario have cut a new zone of gold mineralization. The program is expecte…
BeMaX eyes Pooncarie
Australian-based BeMaX Resources has reached a deal to buy Sons of Gwalia’s 25% stake in the BIP joint venture, which controls extensive tenements in the Northern Murray Basin in New South Wales, Aust…
Echo Bay restates to a loss (September 23, 2002)
Edmonton-based gold and silver miner Echo Bay Mines (ECO-T) has restated its second-quarter, per-share results to reflect a loss related to an April share offering.Under the new accounting handling, E…
Canadian Stock Exchange Indices (September 23, 2002)
DateSept. 17Sept. 16Sept. 13Sept. 12Sept. 11HighLowTSX Composite6392.266500.616495.266516.9766…