Black Hawk flies high in third quarter
Black Hawk Mining (BHK-T) posted a US$901,000 profit in the third quarter of 2000 and earned US$2.2 million during the first nine months of the year. The figures are a considerable improvement over th…
News
Gold Fields in black
Denver — Despite a poor exchange rate for the rand, Gold Fields remained profitable in the first quarter of its 2001 fiscal year.Gold production grew 6% during the 3-month period ended Sept. 30, to 9…
VBN retirement: Round II
Stymied in its offer to buy back 90% of its Class VBN shares (NV-T), Inco (N-T) has changed its strategy and is now seeking to retire the shares via a redemption.Originally, Inco offered to buy the se…
Polymet launches study
Polymet Mining (POM-V) has retained Tucson, Ariz.-based Independent Mining Consultants to prepare a prefeasibility study of its Northmet polymetallic project, in northern Minnesota.Situated in the Dul…
Northern gold explorers focus on adding bulk
Size matters, especially with regard to gold projects in the Far North. As the yellow metal continues to languish below US$275 per oz., gold explorers in this high-cost environment are focusing on add…
Reporting social standards
A global survey by KPMG suggests that mining companies are making good progress in their efforts to become more accountable to external stakeholders, including non-governmental organizations (NGOs).Th…
Lower sales sink Freeport in third quarter
Denver — Lower sales volumes resulted in a third quarter loss for Freeport-McMoRan Copper & Gold (FCX-N). The major incurred a net loss of US$9.2 million (or 6 per share) in the 3-month period ended…
Canabrava replenishes till
A private placement will enable Canabrava Diamond (CNB-V) to buy new properties and finance ongoing exploration at existing ones.Four million units will be issued at 50 apiece. A unit consists of one…
Aquest abandons Anabella
Disappointing drill results on the Anabella gold-antimony project in Guatemala have led Aquest Minerals to cancel its option agreement.The junior says the project does not contain enough ounces to jus…
Exchange Rates (November 27, 2000)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateNov. 21Nov. 20Nov. 17Nov. 16Nov. 15US$ in C$1.55471.55891.55931.5…
Ecuadorian posts resource
Denver — Following completion of a second round of drilling, Ecuadorian Minerals (EMC-T) has reported a new resource at its Beroen gold-silver project in Ecuador.The 27 holes recently drilled bring t…
East Malarctic posts higher earnings
East Malartic Mines’ gold operation, 50 miles east of Rouyn-Noranda, Que., is completing its most profitable year since 1942.Profits for the first 10 months of 1950 were $186,332, compared with earnin…