Aber reports delay, higher mine costs
A final feasibility study indicates that the development of Canada’s second diamond mine will cost $405 million more than expected and require an additional year to complete.In anticipation of a decis…
News
Partners revise plans for Gross Rosebel
Sustained low gold prices have forced Golden Star Resources (GSC-T) and Cambior (CBJ-T) to revise development plans for their Gross Rosebel project in Suriname.A scoping study suggests that the open-p…
Eldorado buoyed by Kisladag
A porphyry gold deposit in western Turkey’s Usak province is providing Eldorado Gold (ELD-T) with encouraging drill results, including a 247-metre intersection grading 3.23 grams gold per tonne.Drilli…
Toronto Stock Exchange Indices (August 30, 1999)
Date-1999Aug. 24Aug. 23Aug. 20Aug. 19Aug. 18HighLow…
Metal Prices (August 30, 1999)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateAug. 24Aug. 23Aug. 20Aug. 19…
MOST ACTIVE ISSUES (August 30, 1999)
August 18-24, 1999CompanyExchgVolume(000s)HighLowCloseChangeInco…
MINING MARKETS & INVESTMENT NEWS — U.S. markets — Three-way merger excites market
The Dow Jones industrial average hit an all-time high during the report period ended Aug. 24, climbing 166.22 points, or 1.55%, to 11,283.30 on expectations that the Federal Reserve Board will boost i…
DIAMOND PAGE — Drilling under way at Munn Lake
Drills have begun spinning at Munn Lake on the Black Lake diamond project, 100 km south of Lac de Gras in the Northwest Territories.Partners Island-Arc Resources (IAR-V), Kalahari Resources (KLA-V) an…
MINING MARKETS & INVESTMENT NEWS — Western Markets — Steady as she goes, on Vancouver market
The Vancouver Stock Exchange composite index remained steady during the report period ended Aug. 24, losing only 0.71 of a point, or 0.2%, to close at 406.51. The mining index edged up 0.88 of a point…
McWatters slashes costs at Quebec gold mines
McWatters Mining (MCW-T) has rebounded from a difficult first quarter and turned a small profit from its gold mines in Val d’Or, Que.During the 3-month period ended June 30, McWatters earned $863,511 …
Meetings (August 30, 1999)
Aug 30 Blake RiverAug 30 TetraAug 31 AegeanAug 31 Big BlackfootAug 31 GalleriaAug 31 Golden TempleAug 31 JNR Res.Aug 31 Pacific TopazAug 31 Royal RockSept 1 NavasotaSept 3 Line IslandSept 7 GossanSept…
Higher output propels Freeport
Higher production and sales resulted in a second-quarter profit for Freeport-McMoRan Copper & Gold (FCX-N).The company earned US$19 million (or 12 cents per share) during the 3-month period ended June…