Semafo finds new zone
Junior Semafo (SMF-T) has outlined a new zone of mineralization at the Mana gold property in Burkina Faso, West Africa.In December 2000, Semafo sank 18 holes to follow up trenching completed last summ…
News
Sherritt makes bid for Luscar coal fund
In partnership with the Ontario Teachers’ Pension Plan, a unit of Sherritt International (S-T) has made an offer to acquire all of the outstanding shares of the Luscar Coal Income Fund (LUS-T).The tot…
UWO raising funds for Fyfe chair
The scientific career of one of the country’s greatest living geologists is to be commemorated by an endowed research and teaching chair in the Department of Earth Sciences at the University of Wester…
Resource up, Rio out of project
A new resource estimate has increased the tonnage at the Sobre Saliente prospect in northern Uruguay, but Rio Tinto (RTP-N) has informed its joint-venture partner, Uruguay Goldfields (UGI-V), that it …
Sadiola Hill gold mine has record year
Western Mali’s Sadiola Hill gold mine, owned by AngloGold (AU-N), Iamgold (IMG-T), and the Malian government, has finished a record year of production.Sadiola poured 611,442 oz. gold in 2000, a record…
LME Warehouse Levels (March 05, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Feb. 27/01 (change from Feb. 20 in brackets):MetalStock(tonnes)ChangeAluminium477075(…
Writedowns translate into loss for Placer Dome
Vancouver — Placer Dome (PDG-T) felt the brunt of lower gold prices as US$377 million in writedowns pushed the company into the red during 2000.Despite record cash flow and operating earnings, the co…
South African output slides
Vancouver — Last year was not a memorable one for the world’s No. 1 gold-producing country. Low gold prices saw South Africa post its lowest annual output in almost 50 years.The country’s Chamber of …
Nord Resources files for reorganization
Nord Resources (NRDS-O) has filed a reorganization case under chapter 11 of the U.S. bankruptcy code to enable it to develop the Johnson Camp copper mine, near Tucson, Ariz.In mid-January, Nord announ…
Breakwater ends year with mixed results
Zinc miner Breakwater Resources (BWR-T) posted a $13.5-million loss for 2000 despite recording its highest revenue yet: $319 million. The 16-per-share loss compares with 1999 earnings of $22.5 millio…
Silver increase fails to save Coeur
Denver — Despite producing a record amount of silver, Coeur d’Alene Mines (CDE-N) incurred a net loss of US$45.8 million (or $1.29 per share) in 2000, compared with a net loss of US$38.9 million ($1….
Taseko gains Harmony project
Vancouver — As part of the proposed reorganization of Misty Mountain Gold (MGL-V), junior Taseko Mines (TKO-V) has inked a deal to pick up the Harmony gold project in British Columbia.”This reorganiz…