CDNX rallies as gold climbs
Vancouver — Canada’s junior exchange continued to move higher on heavy volumes over the report period ended Feb. 5. The Standard & Poor’s-CDNX Composite Index gained 25.9 points, or 2.3% to close at …
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Gold Fields’ earnings nearly triple (February 11, 2002)
Reflecting a weakened South African rand and a month’s production from the recently acquired St Ives and Agnew mines in Western Australia, Gold Fields (GOLD-Q) has reported record earnings of US$67 mi…
Brett licence approved
The government of El Salvador has issued an exploration licence covering the El Potosi gold mine to Vancouver-based Brett Resources (BRN-V). The new licence was issued in conformance with a new Mining…
Lending Rates (February 11, 2002)
as of 4 pm ET, Feb. 5, 2002 (%)Bank of Canada2.25Canadian Prime3.75U.S. Discount1.25U.S. Prime4.75…
Falconbridge ends 2001 on sour note
Weak metal markets kept Falconbridge (FL-T) firmly in the red during the final three months of 2001, but not deep enough to erase profits made earlier in the year.Falconbridge squeaked by last year wi…
Lang hangs on to Valerie Gold
Vancouver — Frank Lang managed to stave off a contentious proxy fight as shareholders voted almost two-to-one to keep his management team at the helm of Valerie Gold Resources (VLG-V).Less than half …
Low Metal Prices take toll on Teck
Vancouver — Partly as a result of the merger that gave rise to Teck Cominco (TEK-T), the new entity has posted an after-tax net loss for the year of $21 million (or 17 per share) after asset writedo…
Minotaur steps out at Olympic Dam-style prospect
The geology and geochemistry of Minotaur Resources’ discovery hole at a large gravity anomaly in the Mt. Woods area of South Australia suggests Olympic Dam-style mineralization and the makings of a po…
Has the tarnish come off?
Gold prices have sustained a rally for more than a month now, if you count the fix of US$272.20 per oz. on Dec. 11 as a bottom. And unlike the old days, it is finding buying support on the way down, r…
News – 11-FEB-02
Prospecting in Wekusko, Part 1
My prospecting partner, Einar Sanden, and I made our first canoe trip across Wekusko Lake, in north-central Manitoba, in 1955. We had made it across and up to our camp on the narrows, above Crowduck B…
South African minister in hot water
South Africa’s mines minister, Phumzile Mlambo-Ngcuka, is being criticized for accepting a significant discount on a diamond tiara bought from a member of the South African Diamond Board, which regula…