LME WAREHOUSE LEVELS (March 22, 1999)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Mar.16/99 (change from Mar. 9 in brackets):MetalStocks (tonnes)Change…
News
NEWS ROUNDUP — First Labrador drilling Ming’s Bight
A drill program by First Labrador Acquisitions (FLI-A) is testing the Ming’s Bight property on Newfoundland’s Baie Verte Peninsula.The work program is aimed at testing the gold and base metal potentia…
AG cuts high grades
Red-hot junior Argentina Gold (ARP-V) has released still more encouraging results from its aggressive drilling campaign at the Veladero project in northwestern Argentina.Reverse-circulation drilling a…
Companies (March 22, 1999)
Aber ResourcesAlcan AluminumAnglo AmericanAnglogoldArgentina GoldBarrick GoldBattle Mountain GoldBillitonBroken Hill ProprietaryCambiorCancor MinesClaude ResourcesEuro-Nevada MiningFalconbridgeFarallo…
Kennecott finds NWT pipe
Kennecott Canada Exploration has found a new kimberlite pipe on a block of ground contiguous with the southern boundary of the Ekati diamond mine in the Northwest Territories.The kimberlite, dubbed EG…
Juina produces diamonds
Juina Mining (GEMM-O) has started producing alluvial diamonds at its namesake operation in southwestern Brazil, with buyers already lined up for initial shipments.The company holds mining rights to 2,…
EASTERN MARKETS — Canadian exchanges propose major overhaul
Near the end of the March 10-16 report period, the four largest Canadian stock exchanges — Toronto, Montreal, Vancouver and Alberta — announced their intention to merge.Citing increased foreign comp…
Metallica cuts gold values in Chile
Junior Metallica Resources (MR-T) has intersected high-grade gold values at its 50%-held La Fortuna property in north-central Chile.La Fortuna is adjacent to the company’s wholly owned El Morro porphy…
Vengold reduces interest in Lihir — Sale enables company to shed US$11m in outstanding debt.
Shaky year-end results and a US$178.1-million debt load prodded Vengold (VEN-T) to cut its interest in the Lihir gold mine in Papua New Guinea.Vengold sold 5.9 million shares of Australian-based Niugi…
Meetings (March 22, 1999)
March 22, AbaddonMarch 22, Blake RiverMarch 22, Golden ThunderMarch 22, NarMarch 22, StinaMarch 22, TouchstoneMarch 23, RegeenaMarch 23, RidelMarch 24, CarlinMarch 24, GoldmaxMarch 24, GulfstreamMarch…
EXCHANGE RATES (March 22, 1999)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateMar. 16Mar. 15Mar. 12Mar. 11Mar. 10…
COMMENTARY — Costs to drop with gold price
The gold price will sink to US$285 per oz. by 2002, though cash costs for Western World producers are also expected to fall, according to a report released by AME Mineral Economics.A study of mine cas…