Cut in Bank of Canada rate falls on deaf ears
Hoping to boost investor confidence, the Bank of Canada shed 75 basis points from its key lending rate on Oct. 23, bringing it to a 40-year low. But so far, the decision appears to have backfired: the…
News
Manhattan in talks over Tambo Grande
Vancouver — Manhattan Minerals (MAN-T) is meeting with Peruvian government officials in a move aimed at advancing the Tambo Grande massive sulphide project.The meetings, which include Mines Minister …
Noranda slips into the red
The ongoing slump in metal prices pushed Noranda (NRD-T) $60 million into the red during the third quarter as revenue slipped to $1.46 billion.The loss, which translates into 27 per share, compares w…
Base metal consumption falls
The extent to which the world has changed since the events of Sept. 11 was made more clear when the base metals industry gathered for LME Week (Oct. 22-26), a major event in the metals calendar year. …
CDNX mining index leads way
Vancouver — Except for technology, Canada’s junior exchange posted gains on all sub-indices during the report period ended Oct. 23. The Canadian Venture Exchange closed the week up 45.69 points, or 1…
Exchange Rates (October 29, 2001)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateOct. 23Oct. 22Oct. 19Oct. 18Oct. 17US$ in C$1.57201.57831.57…
Spot Prices Wed. October 24, 2001
Precious MetalsPrice (US$/oz.)ChangeGold$276.15-$5.50Silver$ 4.25-$0.13Platinum$420.00-$…
TSE Short Positions (October 29, 2001)
Short positions outstanding at October 15, 2001Larger individual positions include:Anderson Exploration 435,920 down 670,775; Barrick Gold 11,319,663 down 448,477; Boliden 4,123,885 down…
Ivanhoe delineates Discovery zone
Ongoing drilling by Ivanhoe Mines (IVN-T) has expanded gold-copper-molybdenum porphyry mineralization at the Turquoise Hill project in southern Mongolia.Final gold and copper assay results from diamon…
PD slashes copper output
Vancouver — Sagging commodity prices have dented the bottom line of the world’s second-largest copper producer.Phoenix-based Phelps Dodge (PD-N) posted a net loss of US$100.6 million (or US$1.28 per …
Workers never went on strike: Fording
I am writing to clarify information that appeared in your Oct. 8-14 issue. The story appeared under the headline “Fording, workers settle strike.”This headline is erroneous, as is the sentence in the …
DRC extends Afton at depth
Vancouver — Deeper drilling by DRC Resources (DRC-V) is attempting to boost tonnage at the past-producing Afton copper-gold mine, near Kamloops, B.C.Hole 42, drilled as part of an ongoing $2-million …