Rio Narcea rewrites hedge book
With its own future looking brighter and bullion prices picking up, Rio Narcea Gold Mines (RNG-T) has restructured its hedge book.In late 2000, the company borrowed US$24 million from Deutsche Bank to…
News
AurionGold eyes sweetener (July 01, 2002)
As expected, the board of directors of Aussie takeover target AurionGold has advised shareholders not to accept Placer Dome’s (PDG-T) all-share bid, as it wrangles for a cash sweetener.In a letter acc…
First Quantum forges ahead at Kansanshi
A positive engineering report has prompted First Quantum Minerals (FM-T) to proceed with a bankable feasiblity study of the Kansanshi copper-gold deposit in Zambia.Kansanshi is Zambia’s oldest mine, d…
News – 01-JUL-02
Licensure closing in
Ontario geologists and geophysicists may find it wise to watch the calendar this summer. At the end of August, their livelihood may depend on having a professional licence.The Geoscientists Act, passe…
Demand outlook positive for metals markets
Although prices managed to recover by Friday, June 21, the overall performance, especially by base metals, was poor during the week under review.The precious metals complex continued to fare slightly …
LME Warehouse Levels (July 01, 2002)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, June 25 (change from June 11 in brackets):MetalStock (tonnes)ChangeAluminium1227150(+…
St Andrew execs take the reigns at UTX (July 01, 2002)
St Andrew Goldfields (SAS-T) has assumed a 33% stake in United Tex-Sol Mines (UTX.A-V).Glenn Laing and Julian Kemp, president and chief financial officer, respectively, of St Andrew, now hold the same…
Northern Miner Indices (July 01, 2002)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)BarrickABX-T21.9%CamecoCCO-T3.6%FalconbridgeFL-T4.7%Freeport BFCX.B-N5.7%GoldcorpG-T3.2%IncoN-T7.9%Meridian GoldMNG-T2.5%Newmont Minin…
US miners steady
During the period ended June 25, mining stocks proved to be an oasis of calm amid continuing turmoil in the broader U.S. equity markets, which re-tested post-911 lows.With gold prices continuing to fi…
Western Copper confirms continuity of Chile Colorado zone
Vancouver — Initial results from an ongoing, 6,800-metre drill program on the Penasquito silver property in Mexico have confirmed the mineral continuity of the Chile Colorado zone.Based on results fr…
Placer Dome stumbles as Aussie takeover target hits back
In a repeat performance, the Toronto Stock Exchange S&P/TSX composite index plummetted 206.74 points over the June 19-26 report period to finish at 7,120.80. The index had lost 71.29 points in the pre…