Coeur sheds Aussie subsidiary
Denver — Idaho-based Coeur d’Alene Mines (CDE-N) has pocketed US$15.6 million by selling its half-interest in Gasgoyne Gold Mines to Sons of Gwalia. Both Gasgoyne and Gwalia are based in Australia.Th…
News
Gold weighs on miners
Denver — The Dow Jones industrial average slumped 54.1 points, or 0.5%, to close at 10,903.32 for the report period ended Feb. 13, as Comex gold, on the New York Mercantile Exchange, slid to US$260.3…
GQ releases more diamonds
Caustic fusion analysis of the lastest samples from the GQ diamond property, near Wawa, Ont., has yielded more encouraing results for Band-Ore Resources (BAN-T).Last fall, Band-Ore collected 45 sample…
CDNX catches breath after bull run
Vancouver — Canada’s junior exchange lost ground over the week ended Feb. 13 as a modest gain in the oil and gas index failed to offset a downturn in the tech sector. The Canadian Venture Exchange lo…
Low prices frustrate Sunshine
Denver — The U.S. government has approved a newly amended plan of reorganization for Sunshine Mining & Refining (SSCF-O), though, with silver prices well below US$5 per oz., the company may have nowh…
Homestake posts record gold output
Denver — With gold production up, Homestake Mining (HM-N) has reported its lowest cash costs in more than two decades.Fourth-quarter production hit a record 589,100 oz. gold, up 9% from the correspon…
LME Warehouse Levels (February 19, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Feb. 13/01 (change from Feb. 6 in brackets):MetalStock (tonnes)ChangeAluminium452575(…
Base metals survive sinking composite index
The Toronto Stock Exchange performed dismally during the report period Feb. 7-13, with the TSE 300 composite index sliding 359.27 points in five trading days and finishing at 8,942.13. The banks and t…
Power sales drive Cominco (February 19, 2001)
Vancouver — Power sales to energy-strapped California have generated a financial windfall for Cominco (CLT-T). The company, now owned 50.1% by Teck (TEK-T), saw its profits double during 2000.The ste…
Wheaton River wins approval for Bellavista
Clearing its last major regulatory hurdle, Wheaton River Minerals (WRM-T) has received final environmental approval to build its Bellavista open-pit, heap-leach gold mine in Costa Rica.Situated 20 km …
Noranda profits grow
Stronger metal prices enabled Noranda (NOR-T) to overcome hefty unusual costs and to end 2000 substantially richer than it began.The major earned $293 million (or $1.14 per share) on sales revenue of …
Teck
Denver — After spending US$4 billion on acquisitions, Rio Tinto (RTP-N) saw its profits jump 18% in 2000.The London-based mining house posted net earnings of US$1.5 billion (or $1.10 per share), comp…