Resource stocks mixed as broad market coasts
The Toronto Stock Exchange slipped a mild 6.81 points over the May 30-June 5 report period to end the week at 8,258.82.The yellow metal sank US$6.70 to land at a London fix of US$266.95 per oz. on the…
News
Stillwater enjoys record year at mine
With a new chairman and chief executive officer at the helm, Stillwater Mining (SWG-A) is forging ahead with an ambitious expansion program at its namesake mine and East Boulder project in the Beartoo…
Golden Phoenix plans to resuscitate Mineral Ridge
Denver — Golden Phoenix Minerals (GPXM-O) intends to resume production at the Mineral Ridge mine in southwestern Nevada. To do so, the Reno-based company will try to secure US$2 million in financing …
Soledad Mtn written down
Denver — Low gold prices have forced Golden Queen Mining (GQM-T) to write down the value of the Soledad Mountain project in southern California. The company posted a net loss of US$28.9 million for 2…
GQ surrenders more macros (June 11, 2001)
Band-Ore Resources (BAN-T) reports additional encouraging results from its GQ property, 20 km north of Wawa, Ont.Three 24-kg samples of bedrock were collected from the area of the recently expanded Ar…
Tungsten grades buoy Tiberon
Vancouver — Calgary-based Tiberon Minerals (TBR-V) has tabled more encouraging results from ongoing drilling at its Nui Phao Tungsten project in Vietnam.The latest holes, 32 and 33, were collared in …
Few bright spots in down market
Denver — The Dow Jones industrial average climbed 136.70 points, or 1.2%, to 11,175.84 during the report period ended June 5, while spot gold slumped to US$265.70 on the Comex division of the New Yor…
LME Warehouse Levels (June 11, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, June 5/01 (change from May 29 in brackets):MetalStock (tonnes)ChangeAluminium588150(+…
AngloGold expands Cresson mine
Denver — The Cresson gold mine, part of the Cripple Creek & Victor joint venture, southwest of Colorado’s Pikes Peak, is producing ore at greater than its design capacity.Originally designed to crush…
Buttress supports mining at Newmont’s Deep Post
Denver — In northern Nevada’s Carlin trend, Newmont Mining (NEM-N) has erected a buttress to support the south highwall at the Betze-Post mine, allowing underground miners at the Deep Post mine to ge…
Power problems mount for U.S. miners
Denver — The dramatic rise in electricity costs for mining operations in the western U.S. continues to threaten the industry. Blackouts are again keeping Californians in the dark, and deregulation go…
Goldstrike exceeds 2m oz. for sixth straight year
Goldstrike in Nevada’s Carlin trend is much more than Barrick Gold’s (ABX-T) flagship gold operation; it’s a world-renowned mining camp that has produced more than 18.6 million oz. since operations be…