Gold Funds (May 28, 2001)
Gold Funds as of May 17, 2001Dundee Precious MetalsCentral FundNet Value$14.14$5.31Price$9.90$5.17…
News
Partners plan drilling
A budget of $4.8 million has been approved by the Fort la Corne joint-venture partners for further drilling and evaluation of three kimberlite bodies at the Saskatchewan project.Partners De Beers Ca…
Partners test PGE showings
Hoping to outline a platinum group metals deposit, Wolfden Resources (YWO-V) and Jonpol Explorations (JON-T) have acquired a 2.6-sq.-km parcel of ground in the Thunder Bay region of Ontario.The pair s…
McWatters reports quarterly loss
With mining suspended at the Sigma-Lamaque open-pit gold mine in Val d’Or, Que., McWatters Mining (MCW-T) has posted a loss of $2.9 million (or 4 per share) on revenue of $13.2 million for the first …
Teck eyes Kantela, Shea
Teck (TEK-T) is funding an exploration program at Orezone Resources’ (ORZ-T) Kantela gold property in Mali.The major can earn 60% interests in the Kantela and Shea gold properties (the latter is in Gh…
Correction (May 28, 2001)
In our May 14-20 issue, we erroneously reported that the Algerian government is charging US$2,000 per line km of geological information. The correct charge is US$2 per line km.
Franco buys Metallica stake
Toronto-based Franco-Nevada Mining (FN-T) has acquired an additional 1.2 million shares of Metallica Resources (MR-T), boosting its equity stake to 3.4 million shares, or 12.76% of the Colorado-based …
Claude tries to hold down costs at Seabee
The Seabee gold mine in Saskatchewan’s La Ronge district has produced modest profits for most of its 10-year operating history. Not so in the first quarter of 2001, when operator Claude Resources (CRJ…
Akrokeri-Ashanti sets records
Turning a profit at current gold prices is no easy task, which is why management of Akrokeri-Ashanti Gold Mines (YAG-V) is justifiably proud of the numerous records set during the 2001 first quarter a…
Silver Standard hits silver zone at Aussie project
Drilling by Silver Standard Resources (SSO-V) has returned 46 metres grading 284 grams silver per tonne from the Bowdens silver deposit in New South Wales, 200 km northwest of Sydney.The junior comple…
Gold prices move up to new range
Gold bugs enjoyed an invigorating rally in the yellow metal over the May 16-22 report period, as the London gold price broke out of a long-held, sub-US$270-per-oz. range to spend a few hours above US$…
Fort Knox eyes Sudbury (May 28, 2001)
Vancouver — Fort Knox Gold Resources (FNX-T) has teamed with mining contractor Dynatec (DY-T) in an attempt to acquire five of Inco’s (N-T) properties in the Sudbury Basin. Inco has accepted t…