Goldcorp coasts at Red Lake mine
Thanks in part to stronger bullion prices, Goldcorp (G-T) kept a steady financial hand during the second quarter.Net earnings rang in at just under US$14 million (or 8 per share) on revenue of US$47 …
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Slumping gold weighs down Venture exchange
Vancouver — Investors shied away from Canada’s junior exchange as the S&P composite index continued its bumpy slide over the week ended July 30. The TSX Venture Exchange shed 32.83 points, or 3.13% o…
Proposals sink SA shares
The stocks of South African-based miners headed south during the report period ended July 30 as political risk made a stark reappearance.In a document leaked to a Johannesburg-based web site in late J…
Nine miners survive underground ordeal
Nine men were rescued without serious injury after spending 77 hours trapped in a water-filled stope of an underground coal mine in Pennsylvania, 90 km southeast of Pittsburgh.As much as 225,000 cubic…
Exchange Rates (August 05, 2002)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateJuly 30July 29July 26July 25July 24US$ in C$1.57311.57221.58651.5…
Artemisia proves low-grade with lack of big stones (August 05, 2002)
The results of a mini-bulk drill sample from Artemisia, one of the promising kimberlites Ashton Mining of Canada (ACA-T) discovered last fall in the Coronation Gulf region of Nunavut, indicate that th…
PEOPLE (August 05, 2002)
Alcoa — Russell Porter appointed VP and deputy general counsel.Anglo American — Mark Moody-Stuart appointed chairman.Apollo Gold — G.W. Thompson appointed non-executive chairman of the…
Pyhasalmi works for Inmet
In spite of low prices for zinc and copper, Inmet Mining (IMN-T) saw good operating performance from its two copper-zinc mines, Pyhasalmi in Finland and Cayeli in Turkey, and posted a $1.6-million pro…
Wayside hits more gold (August 05, 2002)
Vancouver — With the latest drill results from the northwestern extension of the Bonanza Ledge prospect showing little gold, International Wayside Gold Mines (IWA-V) has remobilized its rig to the or…
Daily Metal Prices (August 05, 2002)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateJuly 30July 29July 26July 25July 24Al Alloy1295/128…
Equities bounce back at gold’s expense
The widespread rally in the global stock markets, which started on July 25, pulled the Toronto Stock Exchange TSX Composite index up 350.1 points in the report period July 24-30. The index closed at 6…
Skanska builds Canadian presence Silver
Cementation Skanska, part of the Stockholm-based Skanska group of companies, has doubled the size of its Canadian business by acquiring Aurora Quarrying, a mining contractor based north of Toronto.Est…