Newmont on track for production targets
Despite a disappointing second quarter, Newmont Mining (NEW-N) says it is on track to meet this year’s targets of 5.4 million oz. gold produced at a total cash cost of US$180 per oz.Production in the …
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Expo-Ungava yields more PGMs
Having taken another look at some assay pulps from four holes collared by a previous operator on the Expo-Ungava copper-nickel deposit in 1997, Canadian Royalties (CZZ-V) is reporting more platinum an…
Spot Prices Wed. July 25, 2001
Precious MetalsPrice (US$/oz.)ChangeGold$269.25+$1.15Silver$ 4.26+$0.02Platinum$502.00-$…
Exchange Rates (July 30, 2001)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateJuly 24July 23July 20July 19July 18US$ in C$1.53811.54461.54481.5…
Grades holding up at Sultan’s Gold Mountain
Vancouver — Results from the first hole in a second round of drilling on the Kena gold property, near Nelson, B.C., have enhanced the bulk-tonnage potential of the Silver King porphyry.Sultan Mineral…
Gold Funds (July 30, 2001)
Gold Funds as of July 19, 2001Dundee Precious MetalsCentral FundNet Value$13.64$5.21Price$9.75$4.70…
South African strike delayed
At presstime, a national strike at South Africa’s gold mines had been postponed until late July. However, the National Union of Mineworkers (NUM) said the labour action would go ahead at certain coal …
Inco earnings down in second quarter (July 30, 2001)
Nickel producer Inco (N-T) posted second-quarter earnings of US$45 million as revenue from nickel sales continued to shrink. At the same time, the company unveiled a deal with the government of New Ca…
Goldcorp soars at Red Lake mine
With results continuing to exceed predictions, Goldcorp (G-T) has once again revised its production forecast for the Red Lake mine in northwestern Ontario.Production is now expected to top an impressi…
El Peon keeps Meridian in black without hedging
With second-quarter net income of US$10 million on revenue of US$27.8 million, Meridian Gold (MNG-T) has proved that real money can be made in the gold business without hedging. Much of the credit bel…
Rio narrows gap with Anglo
Rio Tinto continues to gain ground on Anglo American in its quest for first place among global mining companies, as ranked by the Raw Materials Group in Who Owns Who in Mining 2001.The U.K.-based tita…
IMA readies Peruvian gold prospect for drilling
While constructing pads for an upcoming drill program, IMA Exploration (IMR-V) uncovered a new gold showing at its Rio Tabaconas project (formerly known as Tamborapa) in northern Peru.The outcrop yiel…