LME WHSE LEVELS (October 29, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Oct. 23/01 (change from Oct. 16 in brackets):MetalStock (tonnes)ChangeAluminium715275…
News
Ivanhoe delineates Discovery zone
Ongoing drilling by Ivanhoe Mines (IVN-T) has expanded gold-copper-molybdenum porphyry mineralization at the Turquoise Hill project in southern Mongolia.Final gold and copper assay results from diamon…
Goldcorp earnings up on Red Lake production
Goldcorp (G-T) has announced improved third-quarter earnings on higher production and improved gold prices.For the three months ended Sept. 30, the company earned US$10.6 million (or 13 per fully dil…
Workers never went on strike: Fording
I am writing to clarify information that appeared in your Oct. 8-14 issue. The story appeared under the headline “Fording, workers settle strike.”This headline is erroneous, as is the sentence in the …
DRC extends Afton at depth
Vancouver — Deeper drilling by DRC Resources (DRC-V) is attempting to boost tonnage at the past-producing Afton copper-gold mine, near Kamloops, B.C.Hole 42, drilled as part of an ongoing $2-million …
INAC extends contract with diamond valuator
Indian and Northern Affairs Canada (INAC) has extended its diamond valuation contract with Diamonds International Canada (DICAN) for two more years. The original 3-year contract recently expired.DICAN…
Partners expand Legris Lake
A 1,000-metre drilling program by equal partners Avalon Ventures (AVL-V) and Starcore Resources (SOE-V) has extended the depth of platinum group element mineralization at the Legris Lake polymetallic …
Producer and Dealer Prices (October 29, 2001)
Antimony: Mid-mkt US$1,400/t.Bismuth: Mid-mkt US$3.60/lb.Cadmium: Mid-mkt US$0.27/lb.Chromium: Mid-mkt ores US$65.00/t.Cobalt: Recent trades US$7.40-8.40/lb.Copper: Comex Dec. US$0.63/lb.Indium: Indiu…
Akrokeri expects quarterly loss
Lower production from the Bonte alluvial gold mine in Ghana will cut third-quarter revenue and earnings for Akrokeri-Ashanti Gold Mines (YAG-V), and the company is warning that year-end production, re…
Normandy arranges funds
Normandy Mining’s (NDY-T) 62%-owned subsidiary, Australian Magnesium Corp. (AMC), has arranged a considerable portion of the $525 million needed to develop the proposed 90,000-tonne-per-year Stanwell …
Monetary vs. fiscal policy
A three-quarter-point cut in the Bank of Canada’s overnight-rate target, while it came as no surprise to the capital markets, was a drastic measure. To those used to quarter-point adjustments, such a …
Lower profits force Alcan to cut jobs
Alcan will lay off 5-7% of its 52,000 workers worldwide, including some staff at its head office in Montreal.The announcement follows a disappointing third quarter, in which the aluminum giant earned …