Dow drops as gold edges higher
The Dow Jones industrial average dropped 194.37 points, or 1.8%, during the report period ended May 9 to close at 10536.75.Spot gold on the Comex division of the New York Mercantile Exchange picked up…
News
Ken Snyder mine boosts Franco-Nevada to record year
The Ken Snyder gold mine in Nevada’s Midas district gave a major boost to the bottom line of Franco-Nevada Mining (FN-T) in its fiscal year ended March 31, 2000.The Toronto-based company posted net ea…
Franco-Nevada helps prop up sagging TSE
Hit by profit-taking, the Toronto Stock Exchange 300 index retreated 2.3%, or 215.89 points, during the May 3-9 report period. The broad market ended the week at 9,294.39.Gold climbed 20 over the per…
Metal Prices (May 15, 2000)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateMay 9May 8May 5May 4Ma…
LME WHSE LEVELS (May 15, 2000)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 9/00 (change from May 2 in brackets):MetalStock (tonnes)Change…
EXCHANGE RATES (May 15, 2000)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateMay 9May 8…
Northern Miner Indices (May 15, 2000)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)Barrick Gold…
Gold Fields improves earnings
South African-based Gold Fields (GOLD-Q) increased its earnings in the first quarter despite a 3% drop in the price of gold over the past three months.The company turned a profit of US$36.9 million (o…
Joe Mann mine pours gold again
Campbell Resources (CH-T) expects to have milling rates back to capacity at its Joe Mann gold mine this month, following a long development period.The mine, just south of Chibougamau, Que., was shut d…
Rio Narcea still in red
Low gold prices have taken their toll on Rio Narcea Gold Mines (RNG-T), which posted a loss of US$2.1 million last year on revenue of US$31.7 million from its mining operations in northern Spain.In th…
Expatriate acts alone at Kudz Ze Kayah
With a potential partner now out of the picture, Expatriate Resources (EXR-V) intends to act unilaterally when it acquires mineral assets held by Cominco (CLT-T) in the Finlayson Lake district of sout…
Virtual mining
The Kemi chromium mine in Finland is the first Intelligent Mine insofar as it is charting the course toward a system in which routine operations are automated and unmanned, machines are remote-operat…