Philex posts more losses
Last year was a bitter one for Philex Gold (PGI-T), as both earnings and revenues plummeted.The Toronto-based company lost US$68.2 million on revenue of US$21.1 million, compared with a loss of US$11….
News
SPOT PRICES (March 22, 1999)
March 17, 1999, Courtesy of ScotiabankPrecious MetalsPrice (US)ChangeGold$283.90- $7.60Silv…
Vengold reduces interest in Lihir — Sale enables company to shed US$11m in outstanding debt.
Shaky year-end results and a US$178.1-million debt load prodded Vengold (VEN-T) to cut its interest in the Lihir gold mine in Papua New Guinea.Vengold sold 5.9 million shares of Australian-based Niugi…
Romarco complaint dismissed
A legal complaint filed against Romarco Minerals (R-T), President Joseph van Bastelaar and various other parties has been dismissed.Filed in Utah late last year by the estate of Henry Austin Belnap, t…
Stillwater secures funding
Stillwater Mining (SWC-X) has raised US$175 million to finance an expansion of its namesake platinum-palladium operation in southwestern Montana.The funding consists of a US$125-million term loan and …
TSE INDICES (March 22, 1999)
1999–DateMar. 16Mar. 15Mar. 12Mar. 11Mar. 10HighLow…
Careers (March 22, 1999)
LAURENTIAN UNIVERSITY and MIRARCOLaurentian University is located in Sudbury, at the heart of Ontario’s hard-rock mining industry. Laurentian is undertaking a major initiative to build on and strength…
Meetings (March 22, 1999)
March 22, AbaddonMarch 22, Blake RiverMarch 22, Golden ThunderMarch 22, NarMarch 22, StinaMarch 22, TouchstoneMarch 23, RegeenaMarch 23, RidelMarch 24, CarlinMarch 24, GoldmaxMarch 24, GulfstreamMarch…
OVERSEAS QUOTES (March 22, 1999)
Close: Tuesday March 16, 1999SOUTH AFRICA (SA Rand)VolumeCloseAnglovaal Mg290,00024.40Avgol…
LME WAREHOUSE LEVELS (March 22, 1999)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Mar.16/99 (change from Mar. 9 in brackets):MetalStocks (tonnes)Change…
NEWS ROUNDUP — First Labrador drilling Ming’s Bight
A drill program by First Labrador Acquisitions (FLI-A) is testing the Ming’s Bight property on Newfoundland’s Baie Verte Peninsula.The work program is aimed at testing the gold and base metal potentia…
Kennecott eyes Afridi Lake
Kennecott Canada Exploration has intersected kimberlite in the first target to be tested on the Afridi Lake property in the Northwest Territories.The Rio Tinto (RTP-N) subsidiary can earn a 60% intere…