Coronation pipes return strong counts
A new kimberlite camp is emerging some 50-120 km south of Coronation Bay in the northern Slave Craton region of Nunavut. Discoveries by Ashton Mining of Canada (ACA-T) and Kennecott Canada Exploration…
News
Feds slash key rate to 2%
The biggest market-driver in the U.S. during the report period ended Nov. 6 was the Federal Reserve’s slashing of its overnight lending rate by 50 basis points to 2%, its lowest level in more than 40 …
The Northern Miner — North American Mining Index (November 12, 2001)
67.92 (+1.47)(Sept. 30/98 = 100)…
Ivanhoe fires up Bakyrchik
After a 5-year hiatus, the Bakyrchik gold mine in northeastern Kazakstan is once again pouring gold.On a daily basis, Ivanhoe Mines (IVN-T) is tapping 500 tonnes of stockpiled material left over from …
NAME CHANGES (November 12, 2001)
Zim Gold Resources (ZIM-V) has changed its name to Noise Media (NMA-V) on a 1-new-for-1-old share basis.Icelandic Gold (YCE-V) has changed its name to PGM Ventures (YPG-V)…
Thistle eyes South African assets
Thistle Mining (THT-T) is buying five underground gold mines in the Free State of South Africa. Thistle will pay US$32 million in cash, plus a monthly royalty of US$8 per oz. gold for five years.Among…
Desperate Breakwater pulls plug on Nanisivik
Teetering on the brink of oblivion, Breakwater Resources (BWR-T) has decided to shut down its Nanisivik zine mine in Nunavut. The closure is scheduled for September 2002.Low zinc prices, combined with…
Gitennes dumps Virgen
Junior Gitennes Exploration (GIT-T) has sold its share in the Virgen gold property in Peru. A private Peruvian company paid US$1 million and must pay another US$500,000 in the coming weeks for the pro…
US data drag prices lower
Despite fresh production cuts in zinc and copper (in byproduct form), base metals prices continued to trend lower during the report period Oct. 29-Nov. 2, dominated by poor economic data out of the U….
PEOPLE (November 12, 2001)
Alcan — Clarence Chandran and Brian Levitt appointed directors.Int’l Croesus — Michelle Robinson appointed exploration manager.Manhattan Res. — John Peltier appointed director.Seabr…
Falco fined for safety violation
Falconbridge has been fined $75,000 for violating the Ontario Occupational Health and Safety Act at its Lockerby nickel-copper mine in Walden, Ont.The incident occurred in September 1999, when a miner…
Banks commit US$230m to Aber
A banking group will provide a US$230-million debt facility to Aber Diamond (ABZ-T) so that the Toronto-based company can fund its share of the remaining capital costs at the Diavik project in the Nor…