Lending Rates (November 11, 2002)
as of 4 pm ET, Nov. 5, 2002(%)Bank of Canada3.00Canadian Prime4.50U.S. Discount1.25U.S. Prime4.75LIBOR US$ 3-month1.62LIBOR US$ 6-month1.55LIBOR US$ 1-year1.62Gold lease 3-month0.37Gold lease…
News
China selling mining rights to foreign investors
The Chinese government is about to establish a state-run auction house for the purpose of selling the country’s mining rights to the highest bidder.The auction house, known as China Mining Lianfa Auct…
Canadian Stock Exchange Indices (November 11, 2002)
DateNov. 5Nov. 4Nov. 1Oct. 31Oct. 30HighLowTSX Composite6399.646432.656321.406248.80633…
Ivanhoe expands Oyu Tolgoi
Vancouver — Drilling by Ivanhoe Mines (IVN-T) has significantly expanded a zone of copper-rich mineralization at the Oyu Tolgoi gold-copper project in southern Mongolia.Six holes spaced 100-120 metre…
GREATEST VALUE TRADED, OCT. 30 – NOV. 5
ExchgVal($000s)HighLowCloseChangeAlcoa*N35409623.9821.9123.36+0.99…
St. Elias starts drilling
Vancouver — Junior St. Elias Mines (SLI-V) has launched a 1,500-metre drill program on the Gralheira-Jales gold property in northern Portugal.Situated in the Tras-O-Montes region, the project covers …
Glencairn revisits Bellavista
Assured that the government of Costa Rica will support development of the Bellavista gold project, Glencairn Gold (GLJ-V), formerly Glencairn Explorations, has once again agreed to buy the low-grade d…
Anaconda writedown sinks Sherritt
A $29.8-milllion writedown on its investment in troubled Aussie laterite nickel miner Anaconda Nickel sent Sherritt International (S-T) $1.1 million into the red during the three months ended Sept. 30…
Olympus proves up Phuoc Son
Vancouver — Olympus Pacific Minerals (OYM-V) has intersected encouraging gold values at the Phuoc Son project in central Vietnam.The 2,300-metre reconnaissance program identified three prospects that…
Daily Metal Prices (November 11, 2002)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateNov. 5Nov. 4Nov. 1Oct. 31Oct. 30Al Alloy…
Weak copper prices hamper Phelps Dodge’s bottom line
Vancouver — As copper prices continue to linger near lows not seen since 1987, Arizona-based Phelps Dodge (PD-N) is intent on trimming its losses by driving down operating costs.The world’s second-la…
The Northern Miner — North American Mining Index (November 11, 2002)
70.89 (+2.79)(Sept. 30/98 = 100)…