Northern Miner Indices (June 11, 2001)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)Barrick GoldABX-T19.3ComincoCLT-T5.1FalconbridgeFL-T6.7Franco-Nevada MiningFN-T6.3Freeport McMoRan Cop’r BFCX-N6.7Homestake MiningHM-N4….
News
Resource stocks mixed as broad market coasts
The Toronto Stock Exchange slipped a mild 6.81 points over the May 30-June 5 report period to end the week at 8,258.82.The yellow metal sank US$6.70 to land at a London fix of US$266.95 per oz. on the…
Stillwater enjoys record year at mine
With a new chairman and chief executive officer at the helm, Stillwater Mining (SWG-A) is forging ahead with an ambitious expansion program at its namesake mine and East Boulder project in the Beartoo…
Golden Phoenix plans to resuscitate Mineral Ridge
Denver — Golden Phoenix Minerals (GPXM-O) intends to resume production at the Mineral Ridge mine in southwestern Nevada. To do so, the Reno-based company will try to secure US$2 million in financing …
Soledad Mtn written down
Denver — Low gold prices have forced Golden Queen Mining (GQM-T) to write down the value of the Soledad Mountain project in southern California. The company posted a net loss of US$28.9 million for 2…
GQ surrenders more macros (June 11, 2001)
Band-Ore Resources (BAN-T) reports additional encouraging results from its GQ property, 20 km north of Wawa, Ont.Three 24-kg samples of bedrock were collected from the area of the recently expanded Ar…
Tungsten grades buoy Tiberon
Vancouver — Calgary-based Tiberon Minerals (TBR-V) has tabled more encouraging results from ongoing drilling at its Nui Phao Tungsten project in Vietnam.The latest holes, 32 and 33, were collared in …
Few bright spots in down market
Denver — The Dow Jones industrial average climbed 136.70 points, or 1.2%, to 11,175.84 during the report period ended June 5, while spot gold slumped to US$265.70 on the Comex division of the New Yor…
LME Warehouse Levels (June 11, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, June 5/01 (change from May 29 in brackets):MetalStock (tonnes)ChangeAluminium588150(+…
AngloGold expands Cresson mine
Denver — The Cresson gold mine, part of the Cripple Creek & Victor joint venture, southwest of Colorado’s Pikes Peak, is producing ore at greater than its design capacity.Originally designed to crush…
Buttress supports mining at Newmont’s Deep Post
Denver — In northern Nevada’s Carlin trend, Newmont Mining (NEM-N) has erected a buttress to support the south highwall at the Betze-Post mine, allowing underground miners at the Deep Post mine to ge…
Power problems mount for U.S. miners
Denver — The dramatic rise in electricity costs for mining operations in the western U.S. continues to threaten the industry. Blackouts are again keeping Californians in the dark, and deregulation go…