Barrick aims for record
A powerful combination of rising production, falling costs and premium prices for its gold is setting the stage for Barrick Gold (ABX-T) to record its best year ever in 1999.During the first nine mont…
News
Newmont picks up prospect
Newmont Mining (NEM-N) will explore the Jamgyr gold property in north-central Kyrgyzstan with Apex Silver Mines (SIL-X).Apex, through its subsidiary Apex Asia, controls a 79% interest in Kumushtak, th…
Two new solitudes — Feds and fishes
The Supreme Court of Canada is not an elected body, but perhaps it should be if it is to have the last word on matters of economic and social policy in the country. The idea of throwing judges into th…
SPC drills Los Chancas copper discovery in Peru
Based on results from exploration drilling, Southern Peru Copper (PCU-N) will carry out definition drilling at its newly discovered Los Chancas copper discovery in southern Peru.The deposit is 400 km …
COMMENTARY — Cities fuel mining industry
Last May, Mining Works for Canada and the Toronto Stock Exchange (TSE) presented Peter Munk, president of Barrick Gold, with an award for Lifetime Achievement in Mining Finance and celebrated Toronto’…
Madison ups Mt. Kare stake
Madison Enterprises (MNP-V) has acquired an additional 25% indirect interest in the Mt. Kare gold-silver project from Australian-based Carpenter Pacific Resources.Under the deal, Madison will gain all…
LME WHSE LEVELS (October 25, 1999)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Oct. 19/99 (change from Oct. 12 in brackets):MetalStock(tonnes)Change…
INVESTMENT COMMENTARY — Aber shareholders in wait-and-see mode
The appointment of David Anderson as Canada’s minister of the environment has sent a wave of nervousness through the country’s fledgling diamond mining sector. In the past, Anderson has been a protest…
INSIDER TRADING — Barrick, Black Hawk executives sell shares
Recent insider trading transactions reported by the Ontario Securities Commission include the following:Barrick Gold (ABX-T) — Michael Brown, officer, exercised 10,000 options at $22.55 and sold thos…
SPOT PRICES (October 25, 1999)
Precious MetalsPrice (US$/oz.)ChangeGold$309.75-$10.75Silver$ 5.24-$0.31…
TSE INDICES (October 25, 1999)
1999Oct. 19Oct. 18Oct. 15Oct. 14Oct. 13HighLowCom…
Twin Gold finds diamonds in Ungava
Toronto-based Twin Gold (TWG-T) has discovered diamonds in samples from a dyke in the Torngat Mountains, east of Ungava Bay in northwestern Quebec.Five samples, totalling 212.2 kg, contained 112 diamo…