Major production in Peru unaffected by stike thus far
As feared Perus biggest mining union has gone on strike. The National Federation of Mining, Metallurgy and Steel…
News
Daily Metal Prices (April 30, 2007)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)
Spot Prices Courtesy of Scotiabank Tuesday, April 24, 2007
Precious Metals Price (US$/oz.) Change Gold $689.70 +1.70 Silver $14.03 +0.07 Platinum $1325.00 +57.00 Palladium $381.00 +10.00 Base Metals Price (US$/lb.) Change Nickel $23.26 +0.43 Lead $0.88 -0.04 Copper $3.59…
LME Warehouse Levels (April 30, 2007)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, April 23, 2007 (change from April 16 in brackets):
Barrick backs off hostile bid for NovaGold
The trading week ended April 20 closed with the partial resolution of a long-standing conflict in the North American gold industry.
Barrick offloads entire stake in NovaGold (April 30, 2007)
Vancouver — Making good on the planned sale of its 14.8% stake in NovaGold Resources (NG-T, NG-X), Barrick Gold (ABX-T, ABX-N) has divested its 13.6-million share position in the company, which it ta…
Marathon options Gossan’s Bird River (April 30, 2007)
Marathon PGM (MAR-T, MRPGF-O) has struck an option agreement to acquire up to a 70% interest in Gossan Resources’ (GSS-V, GSSRF-O) Bird River platinum group metals (PGM) project in southeastern Manito…
Teck Cominco posts $360M Q1 profit
Vancouver — Teck Cominco (TCK.B-T, TCK-N) posted 2007 first-quarter earnings of $360 million ($1.67 per share) on operational revenue of $1.34 billion, compared with $448 million ($2.19 per share) on…
Producer and Dealer Prices (April 30, 2007)
Antimony : Mid-mkt US$5,440/t.
TSX Short Positions (April 30, 2007)
Short positions outstanding at April 15/07 (with changes from Mar. 31).
Commerce green plan good for prefeasibility
Commerce Resources (CCE-V, CMRZF-O) shares jumped 55% recently on news that the company is taking action to get environmental approval for its Upper Fir tantalum-niobium project near Blue River, B.C.
Nickel frenzy continues with Sherritt takeover of Dynatec
As nickel prices surge to new levels, Sherritt International (S-T, SHERF-O) has agreed to buy Dynatec (DY-T, DYTCF-O), 40% owner of the massive Ambatovy nickel project in Madagascar, for $1.6 billion.