Noranda-Virginia JV targets Quebec
Virginia Gold Mines (VIA-T) and Noranda (NRD-T) have signed an agreement to conduct geoscientific work in the north of Quebec.The deal saw Noranda subscribe to a private placement of 333,333 shares of…
News
Anglo ups stake in Boyongan
Vancouver — Saddled with a US$14-million debt on its soon-to-be- closed Bulawan mine, Philex Gold (PGI-V) has inked a deal to sell a 10% equity stake in the promising Boyongan copper-gold project and…
Too much red tape
With reference to your editorial “Penny Wise, pound foolish” (T.N.M., Dec. 3-9/01), I imagine our government might cite the decline in mineral exploration in British Columbia during recent years as an…
Algoma workers to vote on new deal
Almost 4,000 union members at Algoma Steel in Sault Ste. Marie, Ont., were expected to vote on Dec. 21 on a 32-month contract that would avoid layoffs and protect pensions yet reduce wages by an avera…
Blackstone gains Ursus diamond property
Vancouver — Blackstone Ventures (BLV-V) has inked a deal with the numbered company 4763 NWT to acquire the Ursus diamond property in the Coronation Gulf area of Nunavut.The 46-sq.-km property is 45 k…
Stillwater revises facility
Vancouver — Armed with a revised operating plan, North America’s largest producer of platinum and palladium has renegotiated its US$250-million credit facility.Stillwater Mining (SWC-N), which has al…
Poplar confirms grades at Central zone (December 24, 2001)
Vancouver — Poplar Resources (PPX-V) has hit multiple intervals of low-grade copper-platinum-palladium-gold mineralization at the Bottenbacken project in central Sweden.Encouraged by 1980 drill resul…
Spot Prices Wed. December 19, 2001
Precious MetalsPrice (US$/oz.)ChangeGold$278.90+$5.65Silver$ 4.49+$0.20Platinum$456.00-$…
Gold stocks buoyed by rising bullion price
U.S. markets were little-changed over the report period Dec. 11-18, with the Dow Jones Industrial Average up 110.02 points (just over 1% of value) to a close of 9,998.39 on Dec. 18. The Standard & Poo…
Tax-loss selling hampers CDNX
Vancouver — Falling victim to tax-loss selling, Canada’s junior exchange lost ground on heavy volume. The S&P-CDNX composite index closed the week ended Dec. 18 down 21.8 points, or 2.2%, and closed …
LME Warehouse Levels (December 24, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Dec. 18/01 (change from Dec. 11 in brackets):MetalStock (tonnes)ChangeAluminium793075…
Daily Metal Prices (December 24, 2001)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateDec. 18Dec. 17Dec. 14Dec. 13Dec. 12Aluminium1339/13…