Spot Prices Wed. April 18, 2001 (April 30, 2001)
Precious MetalsPrice (US$/oz.)ChangeGold$263.95+$3.85Silver$ 4.44+$0.12Platinum$606.00-$…
News
Interest payments take toll on Northgate
Vancouver — Despite higher production and lower cash operating costs at its Kemess mine in northern British Columbia, Northgate Exploration (NGX-T) used red ink on its 2000 balance sheet.The company …
Final bells ring on takeovers
Sherritt International (S-T) and the Labrador Iron Ore Royalty Income Fund (LIF.UN-T) emerged victorious in the industry’s two most recent takeover battles.Sherritt and its partner, the Ontario Teache…
NovaGold sells assets
Denver — To fund exploration on its recently acquired Donlin Creek gold deposit, in southwestern Alaska, NovaGold Resources (NRI-T) has liquidated several non-core assets.The company sold commercial …
Temagami has diamond potential: OGS
Stream sediment-sampling by the Ontario Geological Survey (OGS) has uncovered new targets for diamond exploration in the area of Temagami and Marten River, northwest of North Bay.The survey outlines s…
Strike clips Falco’s wings
The good times did not last long for Falconbridge (FL-T), which barely squeaked out a profit in the first quarter.Pinning the blame on falling metal prices, a strike in Sudbury and production difficul…
IMA aims drills at Argentine gold prospect
Vancouver — IMA Exploration (IMR-V) is advancing the Mogote copper-gold property in northwestern Argentina, following recent reconnaissance work.The 80-sq.-km property is 70 km north of the Pascua an…
Algoma files for court protection
A huge first-quarter loss, overwhelming long-term debt and massive steel dumping into North America by foreign countries have forced Algoma Steel to file for court protection from its creditors.The Sa…
OGS expands database
The Ontario Geological Survey (OGS) has purchased airborne geophysical data from the private sector and is making the information available to the mining industry.The OGS will use the data to compleme…
Caber drilling goes one-for-six
A 6-hole drill program mounted by Quebec government-owned Soquem has failed to intersect any significant sulphides on the Caber property, west of Matagami; however, the work did uncover significant mi…
EXCHANGE RATES (April 30, 2001)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateApril 24April 23 April 20April 19April 18US$ in C$1.54821.54641.5434…
Int’l Annax funds drilling at Dairi
Vancouver-based International Annax Ventures (IAX-V) has arranged a $500,000 brokered private placement with parent company Herald Resources of Australia for the purchase of up to 770,000 shares price…