TVX takes writedown
Toronto-based TVX Gold (TVX-T) will take a $64-million, one-time, non-cash charge against its 1999 earnings, reflecting the original purchase price of the Stratoni lead-zinc operation in Greece.The wr…
News
EVENTS (March 13, 2000)
March 16-17 American Association of Professional Landmen — “16th Annual Meeting.” Peppermill Hotel & Casino, Reno, Nev. Tel: (817) 847-7700. Web site: http://www.nvlandman.org/malri.ht…
Improved price buoys SPC
Higher copper prices lifted fourth-quarter earnings for Southern Peru Copper (PCU-N) in 1999.The company posted net earnings of US$9.7 million (or 12 per share), compared with earnings of US$3.4 mill…
Great Basin expands Ivanhoe (March 13, 2000)
Results from ongoing drilling at the Ivanhoe gold project in Nevada have increased the strike lengths of the Clementine and Gwenivere gold-bearing vein systems to 1,800 ft.Great Basin Gold (GBG-V) rep…
Federal budget contains no flow-through provision
Ontario Mines Minister Tim Hudak says he is disappointed by Ottawa’s decision not to enhance federal flow-through financing in the recent budget.Currently, Canadian investors who subscribe to flow-thr…
Cominco, Aur, Teck drop on deal
The Toronto Stock Exchange 300 index rose 296.49 points during he report period March 1-7 to end the week at 9,425.48. Metal producers were mixed, with the TSE gold and precious minerals sub-group ris…
Dow posts heavy losses
The Dow Industrials got pummeled during the report period ended March 7, falling 332.28 points, or 3.3%, to 9,796.03. It was the second time in two weeks the Dow had dipped below the 10,000 mark, as t…
Meridian boosts reserves at El Peon
Reno, Nev.-based Meridian Gold (MDG-N) reports a 38% increase in gold reserves at the newly opened El Peon mine in northern Chile.The reserve figure now stands at 1.2 million oz. gold following drill…
Economic growth fuels inflation fears
Against a background of ever more positive economic data, base metal prices continue to disappoint. During the report period Feb. 21-25, aluminum and copper continued to trend downward; lead and zinc …
Open-pit reserves at Sigma-Lamaque swell to 1.6 million oz.
McWatters Mining (MCW-T) is finding there’s plenty of low-cost gold left at the venerable Sigma-Lamaque complex at the east end of this town.Thanks to last year’s $5-million exploration campaign at Si…
Gold Fields tackles costs at Driefontein
The Witwatersrand Basin of South Africa is home to some of the deepest and largest underground gold mines in the world, including Driefontein, which has produced more than 93 million oz. since operati…
Price rally spawns PGM commodity play
A sustained rally in platinum and palladium prices has rejuvenated exploration for these rare metals and breathed some life into the sickly junior mining sector.Platinum rocketed past $500 recently wh…