Gold Funds (June 03, 2002)
Gold Funds as at May 23, 2002DundeePrecious MetalsCentral FundNet Value$26.14$5.87Price…
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Exchange Rates (June 03, 2002)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateMay 28May 27May 24May 23May 22US$ in C$1.53021.53451.53481.5335…
Canadian Stock Exchange Indices (June 03, 2002)
DateMay 28May 27May 24May 23May 22HighLowTSX Composite7660.587667.037667.757725.087638.38…
BHP continues copper cuts
Vancouver — Responding to weak demand for copper, BHP Billiton (BHP-N) says it will extend production cuts at the Escondida and Tintaya operations in Chile and Peru, respectively.In November 2001, th…
Kennecott comes up empty at Jericho
Kennecott Canada Exploration unsuccessfully tested 20 exploration targets during spring drilling at Tahera’s (TAH-T) wholly owned Jericho diamond project in Nunavut.A number of kimberlite indicator mi…
Cumberland fills pockets
With gold on the move, Cumberland Resources (CBD-T) has arranged a $10.4-million bought deal with Canaccord Capital, which has agreed to buy 4 million units priced at $2.60 apiece.A unit consists of o…
Consolidation revisited
Whatever we may have been told, consolidation in the gold industry isn’t finished. Placer Dome’s A$2-billion offer to take over Aurion Gold is proof enough of that.But the scale of that bid, following…
Sustainable development, Part 1
In many countries, mining is no longer considered socially acceptable, and in order for companies to maintain shareholders and access to capital and land, the industry has to break with its reputation…
PEOPLE (June 03, 2002)
Falconbridge — Derek Pannell appointed deputy chairman; Aaron Regent appointed president and CEO.Matamec — Michel Robert and Claude Tremblay appointed directors.Silver Users — Michael…
Investors demand platinum
The sharp fall in the platinum price between June and August 2001 stimulated strong interest in platinum investment products in both the U.S. and Japan.Sales of platinum coins from the U.S. Mint incre…
Queenstake moves Magistral project forward
Vancouver — With construction well under way on its 50% held Magistral project, Queenstake Resources (QRL-T) expects the latest bout of drilling to boost the overall economics of the advanced propert…
Harmony prevails at gold mine
Striking workers have returned to the deep shafts of the Ranfontein gold mine in South Africa after a dispute over an accommodation allowance was resolved by representatives of Harmony Gold Mining and…