Gold paying the price of past hoarding
It was a nice two weeks, but gold faded back to US$265 per oz. as though it had never seen US$280. Gold lease rates, which went up — gasp! — half a point, are back near 2%. Nothing seems to move the…
News
Aylmer Lake find proves diamond-bearing
A narrow kimberlite dyke discovered during spring drilling on the Aylmer Lake West property in the Northwest Territories has yielded an encouraging number of microdiamonds.A 1.6-metre-thick interval o…
Majescor chases diamond deposits in northern Quebec
Exploration for a specific mineral will sometimes lead to the discovery of an entirely different commodity, as happened in the mid-1990s, at Voisey’s Bay, Labrador, when two prospectors found a world-…
First Quantum closes financing
Vancouver-based First Quantum Minerals (FM-T) has done what few seem able to do these days: raise millions of dollars on the market.The company issued 8.7 million shares at $4.05 apiece, for gross pro…
Anglo finances project
A unit of Anglo American (AUUK-Q) has allocated $1.1 million for ongoing work at Karmin Exploration’s (YKA-V) Aripuana massive sulphide project in Brazil’s Mato Grosso state.Previous work focused on t…
Intrepid drills El Zapote
Denver — Flush with cash for the Aldea El Zapote silver project in El Salvador, Intrepid Minerals (IAU-V) is moving ahead with drilling.The Toronto-based company received $530,000 in funding from Ape…
Seabee tops 500,000 oz.
Production at the Seabee mine in Saskatchewan’s La Ronge district has exceeded 500,000 oz., more than double that of any previous gold mine in the province. Operator Claude Resources (CRJ-T) says the …
Exchange Rates (June 18, 2001)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateJune 12June 11June 8June 7June 6US$ in C$1.52441.51611.52101.5209…
LME Warehouse Levels (June 18, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, June 12/01 (change from June 5 in brackets):MetalStock(tonnes)ChangeAluminium605400(+…
MOST ACTIVE ISSUES, JUNE 6-12
ExchgVol(000s)HighLowCloseChangeAlcoa*N 1190644.9839.7740.50-4.34…
Canadian Stock Exchange Indices (June 18, 2001)
DateJune 12June 11June 8June 7June 6HighLowTSE 3008094.788091.828128.378191.498194.3911401.977382.00Metals & Minerals4558.35…
Iamgold ponders fate of exploration projects
Recent exploration has prompted Iamgold (IAM-T) to walk away from the FSC project, in South Africa, and consider a similar action at the Moeda and Retazos projects in Brazil and Ecuador, respectively….