News

Vancouver — Northgate Minerals (NGX-T) delivered greatly improved earnings in the second quarter, coupled with record low net cash costs for gold production at the Kemess South mine in British Columbia.

Aber Diamond — Peter Schneirla appointed VP; Ray Simpson appointed VP of corporate development; Charles Stanley appointed director of market research.

Orezone Resources (OZN-T) and Gold Fields (GFI-N) have updated the resource estimate for the Essakan main zone at the Essakan property in Burkina Faso. As a result, the gold resouce has increased by 45%.

Vancouver — Drilling at Viceroy Exploration‘s (VYE-V) Gualcamayo project in west-central Argentina continues to cut impressive gold intersections.

Vancouver — The Royal Canadian Mounted Police is investigating two directors of Getty Copper (GTC-V), who are alleged to have participated in a fraudulent business transaction.

London-based Oxus Gold (OXS-L) will stamp its first dividend cheque from the Amantaytau mine in Uzbekistan, which began pouring gold in December 2003.

Vancouver — With the aim of bringing its Cantung tungsten mine in the Yukon back into production, North American Tungsten (NTC-V) is trying to raise up to $7.5 million through a private placement brokered by Union Securities.

Breakwater Resources (BWR-T) has intersected significant base metal and silver mineralization at the Concordia deposit, 3 km northwest of its El Toqui mine in southern Chile.

The U.S. Bureau of Land Management (BLM), part of the Department of the Interior, is receiving bids from eligible companies to mine about 325 million tons of coal on federal land in Wyoming.

There wasn’t much motion in U.S. equity markets over the report period July 28-Aug. 3 as the major indices posted only fractional gains. But the resource sector was way ahead of the broader market, with most mining equities higher.