Grupo Mexico OKs offering
At its recent annual meeting, held in Mexico City, Grupo Mexico authorized the issuance of up to 70 million shares of new stock.Current shareholders can subscribe to the new Series B stock at 50 pesos…
News
Zamora to boost output
The Campanillas gold operation in southeastern Ecuador will undergo a five-fold expansion.Zamora Gold (ZMRA-C) has purchased a 3-by-4-metre ball mill, a cone crusher, eight cyclones and six new flotat…
Inmet stays profitable in first quarter
A substantial increase in earnings from its Cayeli and Troilus mines allowed Inmet Mining (IMN-T) to earn $2.9 million, or 6 per share, on revenue of $28.1 million in the first quarter of 2000.Inmet’…
Stake in Cominco gives boost to Teck
Teck’s (TEK-T) 40.4% equity stake in Cominco (CLT-T) paid off handsomely in the first quarter. The latter earned $7 million (or 6 per share) on sales revenue of $168.5 million, compared with a $1.8-m…
Homestake expands Veladero gold deposit
Since announcing a reserve estimate for its Veladero gold-silver project in northern Argentina, Homestake Mining (HM-N) has discovered new zones of mineralization that could improve the economics of t…
Wayside faces quality concerns
As its drill program continues to cut bonanza-grade gold values over considerable widths, International Wayside Gold Mines (IWA-V) has hired an independent geological consulting firm to verify the pre…
Fall from grace
Complacency is no friend to capital markets, and neither is incompetent government. Sadly, the government of British Columbia is so riddled with incompetence and scandal that it seems barely to notice…
McEwan to discuss Challenge
Robert McEwan, president of Goldcorp, will be the guest speaker at a noon luncheon of the Toronto branch of the CIM, scheduled for May 18 at the Ontario Club.The presentation will focus on the “Goldco…
Clarification (May 08, 2000)
The News Roundup article “SNC begins Pascua work” (The Northern Miner, May 1/00) stated that SNC-Lavalin began site development in February, with the implication that construction of the Pascua mine w…
Spot Prices Wed. May 3, 2000Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$277.60-$0.10Silver$ 5.00+$0.03…
Alcan poised to start Quebec smelter
Alcan Aluminum (AL-T) is only months away from starting up a large-scale greenfield smelter in Alma, Que., shareholders were told at the company’s annual meeting in Montreal.The plant is 2.5 km west o…
Battle Mountain Gold posts stronger quarter
Higher production made it possible for Battle Mountain Gold (BMG-N) to post a smaller loss in the recent first quarter than in the corresponding period of 1999.The company incurred a net loss of US$3….