Ashanti out from under margin requirements
An infusion of cash from a US$75-million note issue allowed Ghanaian gold producer Ashanti Goldfields (ASL-N) to retire old debt and buy out of earlier hedge arrangements that subjected it to margin c…
News
Bradstone Equity dumps Peruvian Gold
Recent insider trading transactions reported by the Ontario Securities Commission include the following:- Alamos Minerals (AAS-V) — Nerio Cervantes, director, sold 5,000 shares at 90 apiece to hold …
Exchange Rates (August 12, 2002)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateAugust 6August 5August 2August 1July 31US$ in C$1.5933Holiday…
Producer and Dealer Prices (August 12, 2002)
Antimony: Mid-mkt US$1,750/t.Bismuth: Mid-mkt US$2.95/lb.Cadmium: Mid-mkt US$0.30/lb.Chromium: Mid-mkt ores US$65.00/t.Cobalt: Recent trades US…
Minera Andes finds more gold in Argentina
Vancouver — Reconnaissance surface sampling at Minera Andes’ (MAI-V) El Pluma-Cerro Saavedra project in southern Argentina has uncovered new areas of high-grade gold and silver mineralization.The res…
News – 12-AUG-02 (August 12, 2002)
Barrick drills for gold at Rimfire’s RDN project
Vancouver — Rimfire Minerals (RFM-V) reports that Barrick Gold (ABX-T) has kicked off a 3,000-metre drilling campaign at the RDN project in northwest British Columbia, 40 km northwest of the Eskay Cr…
San Martin guides Glamis to profitablity
Led by a strong operational performance at its wholly owned San Martin mine in Honduras, Glamis Gold (GLG-T) turned in some solid numbers for the second quarter of 2002.Gold production from its three …
Agnico looking even deeper at LaRonde
Development of the LaRonde gold mine in northwestern Quebec is one of those business stories that just gets better with each passing year.Having completed its 7,350-ft. Penna shaft and expanded from a…
Equities slump drags down metals prices
July 29-Aug. 2 at a Glance- Copper prices were heavily oversold and funds were close to their limits on the short side. Consequently, support at US$1,495-1,500 per tonne should hold, though upside pot…
Major Drilling in Mongolia
Major Drilling’s Australian division, Major Pontil, will provide services to Ivanhoe Mines’ Turquoise Hill gold-copper discovery in southern Mongolia.The job will require at least seven rigs and calls…
Higher output, earnings for Golden Star
Better-than-expected gold production and a higher realized price for that material led Golden Star Resources (GSC-T) to record solid earnings during the second quarter.The company earned US$1.6 millio…