Anooraq gains Bushveld platinum project
Junior Anooraq Resources (ARQ-V), part of the Dickinson-Hunter group, has acquired the rights to a 74-sq.-km land package prospective for platinum group metals. The properties are on the northeastern …
News
Inmet posts profits
Inmet Mining (IMN-T) is on track for a profitable year following a third quarter that saw the copper and gold producer earn $8.4 million on revenue of $32.1 million (or 22 cents per share).After $3.4 …
WMC advances Meliadine West project
Infill drilling by Australian-based Western Mining Corp. (WMC-N) has confirmed resources previously inferred at the Meliadine West property near Rankin Inlet, Nunavut.The infill program, consisting of…
Gabriel outlines resource at Certej
Underground sampling by Gabriel Resources (GBU-V) has resulted in a preliminary resource estimate for the Certej gold project near Deva, in western Romania.The Certej exploration concession covers gro…
FACTS ‘N’ FIGURES — Drops in spending level off
Although base metals and gold prices are showing signs of strength, budget increases usually lag behind improved metal prices by a year.Exploration spending will continue to drop in the near term, but…
GSC awards Brawner
C.O. “Chuck” Brawner, a civil engineer with extensive experience in rock mechanics, has received the R.F. Leggat Award for his contributions to the field of geotechnical engineering.The award was pres…
Kvaerner reps named to Russian academy
Two employees of the Canadian branch of British-based engineering firm Kvaerner have been named to the Russian Academy of Mining Sciences for their contributions to that country’s mining industry.Vice…
CLARIFICATION
A report in our Oct. 28 issue states that St Andrew Goldfields (SAS-T) intends to earn a majority interest in the Timmins gold project of Holmer Gold (HGM-T). In fact, the agreement only covers the pr…
China restructures mining laws for Western players — ‘Friendly’ revisions fail to address concerns over preset gold prices
The Chinese government has upgraded its Mining Code in an attempt to lure more foreign investors, but mining firms remain critical of a component that prohibits gold hedging.The changes allow foreign …
Investment Commentary — Freeport gets nod for improved financial results
In the copper world, things don’t get much better than US8 cents per lb., which is the lowest cost of production ever reported by Freeport-McMoRan Copper & Gold (FCX-N) from its vast Grasberg mine in …
MINING MARKETS & INVESTMENT NEWS — WESTERN MARKETS — Western markets continue slump as gold slides
The Vancouver Stock Exchange composite index sunk through the 400-point level, losing 8.61 points, or 2.1%, to close the report period ended Oct. 26 at 395.20. Meanwhile, the mining index lost ground …
MINING MARKETS & INVESTMENT NEWS — EASTERN MARKETS — Majors sag as gold sinks below US$300 per oz.
The party came to an abrupt end during the Oct. 20-26 report period as gold nosedived US$19.35 to hit US$290.40 per oz. on the London morning fix of Oct. 27.During the last week of October, most of th…