Gahcho Kue study falls short
The Gahcho Kue diamond project in the Northwest Territories is remaining on the back burner after an updated desktop study by De Beers failed to meet a critical 15% internal rate of return required to…
News
Editorial Cartoon (April 28, 2003)
Diversification boosts Teck Cominco (April 28, 2003)
Vancouver — An improved operating performance at the Trail smelter in British Columbia, combined with an 18% jump in the price of bullion, propelled the world’s largest zinc producer to a profit in t…
Base Metals: Look for opportunities
The following is the second of four instalments of The Commodity Refiner, published by London, U.K.-based Barclays Capital Research. This week we offer an overview of the base metals sector. Next week…
Tournigan explores in Northern Ireland and El Salvador
Vancouver — Tournigan Gold (TVC-V) has raised $1.25 million in a brokered, short-form financing, with proceeds earmarked for projects in Northern Ireland and El Salvador.The company placed 5 million …
Lending Rates (April 28, 2003)
as of 4 pm ET, Apr. 22, 2003(%)Bank of Canada3.50Canadian Prime5.00U.S. Discount Primary2.25U.S. Fed Funds1.25U.S. Prime4.25LIBOR US$ 3-month1.32LIBOR US$ 6-month1.32LIBOR US$ 1-year1.42Gold …
Alcoa trims more workers
The biggest news of the week was Alcoa’s announcement it will cut production and staff at three smelters, in Rockdale, Tex., Massena, N.Y., and Ferndale, Wash.After cutting 10,000 jobs in 2002, the co…
Goldminco cuts gold at Balabag (April 28, 2003)
Vancouver — Scout drilling at the Balabag Ridge project in the Philippines has returned encouraging gold-silver values for Goldminco (GCP-V).The 594-metre program tested for mineralization below a se…
US mineral output stagnant
The value of mineral-based materials produced in the U.S. in 2002 was US$373 billion, almost the same as in the previous year, according to a report from the U.S. Geological Survey.The lack of improve…
Golden Star takes over Mampon, Dunkwa
Three property deals have expanded the land package held by Golden Star Resources (GSC-T) around its Bogoso and Prestea gold mines on the Ashanti trend in Ghana.In the first of the three deals, Golden…
Daily Metal Prices (April 28, 2003)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateApril 22April 21April 18April 17April 16Al Alloy137…
Rubicon hits high-grade at McFinley
Vancouver — Rubicon Minerals (RMX-V) has cut several intervals of high-grade gold at the McFinley project in Ontario’s Red Lake camp.So far, 26 holes (or 8,465 metres) have targeted unexplored parts …