Golds fall again while nickel majors climb
Gold just can’t cut a break these days: spot prices fell steadily throughout the Nov. 14-20 report period to settle at a London morning fix of US$273.15 per oz. on Nov. 21. The yellow metal has lost n…
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Diamondex gains ground
Randy Turner’s Diamondex Resources (DSP-V) has struck an agreement to acquire a 70% interest in the Peregrine property in Nunavut.Situated in the emerging Coronation Bay kimberlite camp, 520 km north …
Ashton boosts offering to $8m
Higher-than-expected demand for a $3-million brokered flow-through financing priced at a $1.10 per unit has led Ashton Mining of Canada (ACA-T) to raise an additional $1 million under the same terms.A…
Opawica execs beef up holdings
Recent insider trading transactions reported by the Ontario Securities Commission in its OSC Bulletin include the following:Birim Goldfields (BGI-T) — Denis Simoneau, director, bought 200,000 shares …
Southern Rio gains BC foothold (November 26, 2001)
Shifting its focus from South America to precious metal properties in Canada, Southern Rio Resources (SNZ-V) has inked a deal to acquire the Duke copper property, 30 km west of Merritt, B.C.In return,…
Consolidation afoot in Free State
Joint bidders Harmony Gold Mining (HGMCY-Q) and African Rainbow Minerals (ARM) have succeeded in their offer to buy the Free State assets of AngloGold (AU-N) for R2.2 billion in cash.R1.8 billion is p…
Fronteer samples Birch-Uchi properties
Fronteer Development Group (YFV-V) reports significant results from initial exploration of its Sandy Point and Shanty Bay properties, northeast of Red Lake, Ont.At the Sandy Point property, 22 grab sa…
Gold Funds (November 26, 2001)
Dundee Precious MetalsCentral FundNet Value$13.10$5.30Price$9.30$5.26Discount29.01…
Mining index increases momentum
Vancouver — The report period ended Nov. 20 saw the third consecutive 3-digit gain for the mining sector. Nothwithstanding a poor performance by the oil and gas sector, the Canadian Venture Exchange …
Newmont still volume leader
The New York Stock Exchange finished in positive territory over the report period Nov. 14-20, adding 150.43 points to close at 9,901.38.Like last week, the big newsmaker was Newmont Mining, which was …
WMC rejects Alcoa bid
The board of directors of Australia’s WMC (WMC-N) has rejected a confidential approach by U.S.-based aluminum giant Alcoa (AA-N) to acquire all the outstanding shares in WMC for a A$10.20-per-share ca…
Platosa yields mixed results (November 26, 2001)
Vancouver — Three drill holes at the Platosa base metal property in west-central Mexico have returned significant mineralization for Excellon Resources (EXN-V).Two of the holes tested the lateral off…