Kinross awash in red ink
Stagnant gold prices have forced Kinross Gold (K-T) to chalk up another quarterly loss.Net losses for the first three months of 2000 totalled US$7.8 million (or 3 per share) on revenue of US$70 milli…
News
McEwan to discuss Challenge
Robert McEwan, president of Goldcorp, will be the guest speaker at a noon luncheon of the Toronto branch of the CIM, scheduled for May 18 at the Ontario Club.The presentation will focus on the “Goldco…
Clarification (May 08, 2000)
The News Roundup article “SNC begins Pascua work” (The Northern Miner, May 1/00) stated that SNC-Lavalin began site development in February, with the implication that construction of the Pascua mine w…
Gold Funds (May 08, 2000)
Dynamic MutualCentral FundNet Value$12.77$5.49Price$8.00$5.10Discount37.35%7…
Spot Prices Wed. May 3, 2000Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$277.60-$0.10Silver$ 5.00+$0.03…
Richmont posts quarterly profit
Higher gold prices enabled Richmont Mines (RIC-T) to turn a small profit in the first quarter.Net earnings in the three months ended March 31 totalled $846,329 (or 6 per share) on revenue of $11 mill…
Alcan poised to start Quebec smelter
Alcan Aluminum (AL-T) is only months away from starting up a large-scale greenfield smelter in Alma, Que., shareholders were told at the company’s annual meeting in Montreal.The plant is 2.5 km west o…
Pierina, Goldstrike power Barrick’s quarter
On the back of excellent contributions from the Pierina mine in Peru and the Goldstrike property in Nevada, juggernaut Barrick Gold (ABX-T) has posted stronger-than-expected results for the first quar…
Cambior revived by Japanese cash infusion
Gold dropped to a fresh 7-month low of US$272 per oz. during the April 26-May 2 report period before recovering slightly to reach a London morning fix of US$277.70 per oz. on May 3.Gold’s rebound on t…
Junior exchange shows modest gains
April trading activity on the Canadian Venture Exchange was off 61% from the previous month as technology stocks retrenched from their lofty heights. The CDNX declined 18% over March, while, during th…
Prefeasibility paints robust picture of Snap Lake project
A $40-million program of advanced exploration now under way at the NW Snap Lake project in the Northwest Territories will provide operator Winspear Resources (WSP-T) with all the information required …
Mining: the year in review
Nineteen ninety-nine was both difficult and disappointing for British Columbia’s mining industry: two mines closed and no new mines were opened. Moreover, mineral exploration spending plummeted dramat…