Anaconda Nickel tables debt plan
Australian-based Anaconda Nickel has reached a deal that will see its secured creditors receive US$190 million in cash, or about US25 on the dollar, for the outstanding secured debts of its wholly ow…
News
Queenston cuts new gold
Two of the first three diamond drill holes sunk by Queenston Mining (QMI-T) at its Kirkland Lake gold project in northeastern Ontario have cut a new zone of gold mineralization. The program is expecte…
Sandvik buys Mazda subsidiary
The mining and construction arm of Swedish-based Sandvik has acquired the Earth Technologies division of Japan-based Mazda.Mazda Earth Technologies makes hammers, breakers, tools and spare parts for t…
War jitters send golds higher
After a quiet start on Sept. 11, the Toronto Stock Exchange’s Composite index slid a whopping 226.04 points, or 3.4% of value, to end the Sept. 11-17 report period at 6,392.26 as prospects of a U.S. a…
BeMaX eyes Pooncarie
Australian-based BeMaX Resources has reached a deal to buy Sons of Gwalia’s 25% stake in the BIP joint venture, which controls extensive tenements in the Northern Murray Basin in New South Wales, Aust…
Exchange Rates (September 23, 2002)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateSept. 17Sept. 16Sept. 13Sept. 12Sept. 11US$ in C$1.57921.58251.5857…
Echo Bay restates to a loss (September 23, 2002)
Edmonton-based gold and silver miner Echo Bay Mines (ECO-T) has restated its second-quarter, per-share results to reflect a loss related to an April share offering.Under the new accounting handling, E…
Friedland leading the charge in the land of Genghis Khan
The discovery by Ivanhoe Mines (IVN-T) of the world class copper-gold bearing porphyry system at Turquoise Hill in Mongolia’s remote South Gobi region highlights the untapped mineral exploration poten…
Barrick unveils major growth platform (September 23, 2002)
After laying low for the summer while its peers grabbed the limelight, Barrick Gold (ABX-T) has announced a sweeping US$2-billion expansion program that would see four projects come on-stream in the n…
Freewest steps up gold search in New Brunswick
The exploration efforts of Freewest Resources Canada (FWR-V) in the Clarence Stream area of southwestern New Brunswick continue to demonstrate the potential of an emerging camp of granite-related gold…
News – 23-SEP-02
To move a mountain
The timing was ironic and largely unnoticed, but it was indeed interesting to note that at the same time the Montana State Legislature was meeting in Helena to fix a US$50-million hole in the state bu…