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 …
News
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…
Teck gets boost from Cominco
By purchasing almost 5.2 million shares of Cominco (CLT-T) at a cost of $127 million in 2000, Teck (TEK-T) increased its ownership of the company to 50.1% and took steps to consolidate it as a subsidi…
Monetary value in question The commodity formerly known as gold
The return of the Republican Party to the U.S. presidency has brought some of the weirder economic views of the political right back into polite discourse. George Bush, Jr., has already unveiled a bud…
Odds ‘n’ sods: Hart and Soul of Elliot Lake
In earlier columns, I referred to the Preston East Dome team and Technical Mine Consultants (TMC), which were both controlled by Joseph Hirshhorn (1899-1981). The so-called Preston East Dome team cons…
NAME CHANGES (February 19, 2001)
Claddagh Gold Ltd. (CDG-V) has changed its name to Resorts Unlimited Management Inc. (RUM-V) on a 1-new-for-4-old-shares basis.
Gold Funds (February 19, 2001)
Gold Funds as of February 8, 2001Dundee Precious MetalsCentral FundNet Value$11.54$5.21Price$6.51$4.870Discount43.596.50Value$81,583,000$94,540,628…
BCSC lifts ban on Watson
The British Columbia Securities Commission (BCSC) has dropped a 10-year ban against veteran geologist Mackenzie (Mac) Watson. The penalty was imposed in 1996 after the BCSC examined the conduct of Wat…
Morila keeps Randgold in black
Denver — With contribution from the new Morila gold mine in Mali, Randgold Resources posted a profit during 2000.In its first year of operation, the company, a 61%-held subsidiary of Randgold & Explo…
EXCHANGE RATES (February 19, 2001)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateFeb. 13 Feb. 12 Feb. 9 Feb. 8Feb. 7US$ in C$1.52121.51931.50831.5…
Gold Fields posts strong quarter
Denver — Cost-cutting measures and the weakening of the South African rand helped Gold Fields (GOLD-Q) post a profit in the fourth quarter of 2000.The company earned US$36 million (or 8 per share) d…