Lending Rates (May 13, 2002)
as of 4 pm ET, May 7, 2002(%)Bank of Canada2.50Canadian Prime4.00U.S. Discount1.25U.S. Prime4.75LIBOR US$ 3-month1.90LIBOR US$ 6-month2.07LIBOR US$ 1-year2.55Gold lease 3-month0.40Gold lease …
News
Gold Funds (May 13, 2002)
Gold Funds as at May 2, 2002Dundee Precious MetalsCentral FundNet Value$21.88$5.75Price$16.75$6.16…
Partners pull gold at El Limon
Vancouver — Sixty-forty partners Teck Cominco (TEK-T) and Miranda Mining (MRM-V) continue to define a zone of gold mineralization at the El Limon prospect in Mexico’s Guerrero state. The deposit is p…
It isn’t academic!
Sustainable development has certainly become the hot topic. During April and May 2002, Canada played host to two major mining conventions organized around the subject.First came the annual meeting of …
BC mines generate profits
British Columbia’s mining industry earned $61 million in 2001, compared with a loss of $8 million in the previous year, according to a survey by PricewaterhouseCoopers.The survey notes that mining rev…
Barrick clears US$46m in quarter
The first quarter of the year was kind to most gold producers, including the company that probably suffered the least in gold’s prolonged slump.Barrick Gold (ABX-T) recorded a US$46-million profit for…
Commerce Resources firms up Fir carbonatite
Vancouver — Drilling by Commerce Resources (CCE-V) in the Blue River area of British Columbia has confirmed the high-grade nature of the tantalum mineralization in the Fir carbonatite.Situated 10 km …
Noranda idles Bell Allard
Citing low metal prices and high inventories, Noranda (NRD-T) has decided to close its Bell Allard underground zinc mine for one month. The Matagami, Que., mine will be shut down beginning on June 29….
Soquem sells quarter of Clearwater interest
The Quebec Crown corporation Soquem has inked an option deal that will allow Eastmain Resources (ER-T) to take over operation of the Clearwater gold project in northwestern Quebec.The memorandum of un…
Seven questions for you
It was at the World Economic Forum in 1999 that nine chief executives of major mining companies put their heads together and realized the public might have preferred those heads on a plate. Thus was b…
Responsibilities start during exploration
First impressions are often the most lasting, especially in the mineral exploration business, for first impressions can go a long way toward ensuring community support for projects.One way the industr…
Golds power US market
With gold prices firming up well above the US$300-per-oz. mark, investors in U.S.-traded gold stocks enjoyed another week of strong gains.Gold Fields shot up $1.70 to US$13.80 on heavy volume as the S…