The Shanghai gesture
The Shanghai Gold Exchange is opening just as gold prices are returning to levels they had not seen in five years (neglecting the brief spike at the time of the Washington gold-sales agreement in late…
News
Black gold offsets red ink for Teck
Vancouver — Low zinc and copper prices, combined with lower production at the company’s refineries, took their toll on Teck Cominco (TEK-T) in the third quarter. However, the diversified miner manage…
Agnico-Eagle shares drop on financing news
Shareholders of one of the darlings of the retail gold-bug crowd, Agnico-Eagle Mines (AGE-T), received a swift kick in the goolies in late October as the company unveiled plans for a dilutive, US$167-…
Ivanhoe expands Oyu Tolgoi
Vancouver — Drilling by Ivanhoe Mines (IVN-T) has significantly expanded a zone of copper-rich mineralization at the Oyu Tolgoi gold-copper project in southern Mongolia.Six holes spaced 100-120 metre…
Canadian Stock Exchange Indices (November 11, 2002)
DateNov. 5Nov. 4Nov. 1Oct. 31Oct. 30HighLowTSX Composite6399.646432.656321.406248.80633…
China selling mining rights to foreign investors
The Chinese government is about to establish a state-run auction house for the purpose of selling the country’s mining rights to the highest bidder.The auction house, known as China Mining Lianfa Auct…
Lending Rates (November 11, 2002)
as of 4 pm ET, Nov. 5, 2002(%)Bank of Canada3.00Canadian Prime4.50U.S. Discount1.25U.S. Prime4.75LIBOR US$ 3-month1.62LIBOR US$ 6-month1.55LIBOR US$ 1-year1.62Gold lease 3-month0.37Gold lease…
GQ yields more diamonds
Six of seven heterolithic breccia outcrops on Band-Ore Resources’ (BAN-T) GQ property, near Wawa, Ont., have returned diamonds.The best results came from the Rainbow zone, where a 54-kg sample from a …
Spot Prices Wed. November 6, 2002
Precious MetalsPrice (US$/oz.)ChangeGold$317.50+$0.35Silver$ 4.50+$0.02…
Atlas Copco signs deal with DMC Drilling
Atlas Copco has signed a partnership agreement with Coniston, Ont.-based DMC Drilling Supplies to service the underground diamond drilling community in Sudbury, Ont.DMC has spent the past 10 years sup…
NAME CHANGES (November 11, 2002)
Redstar Resources (RST-V) has changed its name to Redstar Gold (RGC-V) on a 1-new-for-6-old-share basis.