Northern Miner Indices (December 17, 2001)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)Barrick GoldABX-T18.7FalconbridgeFL-T5.9Franco-Nevada MiningFN-T6.5Freeport McMoRan Cop’r BFCX-N5.3Homestake MiningHM-N6.4IncoN-T9.4Newm…
News
Received truth
Staff at The Northern Miner were downcast in November 2000, when we found out the trade press division of Southam, of which we were a part, had been cut out of the sale of Hollinger assets to televiso…
US rate cut spooks northern investors
The biggest news of the Dec. 5-11 report period came from south of the border, where the U.S. Federal Reserve Board knocked another 25 basis points off the federal funds rate, thereby reducing it to i…
Deere, Hitachi form marketing JV
In a move designed to boost sales and trim costs, Deere & Co. and Hitachi Construction Machinery will integrate their marketing operations in North, Central and South America.Under the plan, marketing…
Appalaches, Marum encouraged by B20 results
Appalaches Resources (APP-V) and Marum Resources (MMU-V) are encouraged by sample results from outcrops taken in the Port-Cartier region, west of Sept-les, Que.The sampling was concentrated 2 km east…
Green light flashes for Thunderbox mine
Partners LionOre Mining International (LIM-T) and Australian-listed Dalrymple Resources will proceed with development of the Thunderbox gold project in Western Australia.With a 4-year finance facility…
Great Quest finds gold at Kenieba
A reconnaissance survey on the Kenieba concession in Mali, West Africa, by Great Quest Metals (GQ-V) has returned up to 10.5 grams gold per tonne.The survey focused on two targets, the Zambaye 1 and 2…
Canabrava joins Majescor in Quebec (December 17, 2001)
Canabrava Diamond (CNB-V) has agreed to earn a half-interest in the Mistassini project in the Otish Mountain region of Quebec.In return, the junior is required to spend $1.3 million on exploration ove…
Normandy takeover heats up
The quest for Australian gold producer Normandy Mining turned a corner over the Dec. 5-11 report period as Newmont Mining increased its cash component to twice that offered by rival suitor AngloGold…
First Point finds more gold at Filo Lapa (December 17, 2001)
Vancouver — First Point Minerals (FPX-V) has found higher gold grades during trenching at its Cacamuya project in Honduras.The work was concentrated at the Filo Lapa zone and the recently discovered …
Canaccord revises PGM forecast downward
In a November research report, Canaccord’s London-based gold analyst, Roger Chaplin, lowers his price projections for platinum group metals (PGMs) and their producers.Building on PGM supply-and-demand…
CDNX loses ground on new S&P index
Vancouver — The Canadian Venture Exchange launched a new composite index during the week ended Dec. 11. Based on market capitalization, the Standard & Poor’s-CDNX Composite Index is meant to provide …