Breakwater ends year with mixed results
Zinc miner Breakwater Resources (BWR-T) posted a $13.5-million loss for 2000 despite recording its highest revenue yet: $319 million. The 16-per-share loss compares with 1999 earnings of $22.5 millio…
News
CDNX slides into bear territory
Vancouver — Canada’s junior exchange saw losses on all indices except oil and gas during the report period ended Feb. 27. The Canadian Venture Exchange dropped 48.04, or 1.5%, to finish the week at 3…
Gold still a storehouse of value
That was a great editorial about gold (T.N.M., Feb.19-25/01). Not quite enough about its potential as a store of value, however — a role gold has filled for hundreds of centuries.The other day when t…
WGC upgrades marketing budget
The World Gold Council (WGC) has raised its promotional budget to more than US$50 million and appointed London-based Bartle Bogle Hegarty (BBH) to handle advertising and marketing.”We are confident th…
Exchange Rates (March 05, 2001)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateFeb. 27 Feb. 26 Feb. 23 Feb. 22Feb. 21US$ in C$1.52591.53131.5374…
Aur digests QB purchase
As the dust settles following last fall’s purchase of the large Quebrada Blanca mine in Chile, junior copper producer Aur Resources (AUR-T) is reporting a loss for 2000.Aur posted a net loss of US$15 …
Correction (February 26, 2001)
In the B section of our Feb. 5 issue, we misquoted David Copeland, director of projects for the Hunter-Dickinson group.Mr. Copeland’s actual words were: “The workable political climate, combined with …
Energy costs hurt American mining
Denver — The collective effort of mining companies to cut costs and improve profits is being jeopardized by high power costs, particularly in the western U.S., where an emerging energy crisis is send…
Falco, union settle labour dispute
Peace has come to Ontario’s Sudbury nickel camp now that an agreement has been reached between Falconbridge and its unionized workforce to settle a strike that began Aug, 1, 2000.The agreement was rea…
Altius nabs more ground
Junior Altius Minerals (ALS-V) has added two properties to its promising exploration portfolio in Newfoundland.The Fortune Bay property covers 62 claims on the eastern side of the island. Localized sh…
Ivanhoe strikes South Korean gold
Four years of grassroots exploration in South Korea is paying off for Robert Friedland’s Ivanhoe Mines (IVN-T).Near Haenam Twp., in the province of Cholla, drilling outlined an epithermal vein system …
Cameco hit by weak uranium prices
Sagging spot prices for uranium eroded Cameco’s (CCO-T) bottom line in 2000.For the year, Cameco’s suffered a net loss, after special items, of $87 million (or $1.57 per share) on revenue of $689 mill…