Newmont inks deal with Andean (May 12, 2003)
Vancouver — Newmont Mining (NEM-N) has signed a letter of intent with Andean American Mining (AAG-V) to earn up to a 60% interest in the junior’s Santa Rosa gold-silver property in Peru.The agreement…
Articles by Northern Miner Staff
Broad advance for US miners
The trading period April 30-May 5 was broadly positive for U.S. markets, with the Dow Jones Industrial Average advancing 85.37 points to 8,588.36 and the broader-based Standard & Poor’s 500 index up 1…
Eldorado, Romarco insiders trim holdings
Recent insider trading transactions reported by the Ontario Securities Commission include the following:– Aquiline Resources (AQI-V) — Marc Henderson, director, bought 60,000 shares at 21-25 apiece…
Lending Rates (May 12, 2003)
as of 4 pm ET, May 6, 2003(%)Bank of Canada3.25Canadian Prime5.00U.S. Discount Primary2.25U.S. Fed Funds1.27U.S. Prime4.25LIBOR US$ 3-month1.29LIBOR US$ 6-month1.26LIBOR US$ 1-year1.30Gold le…
American Barrick boosts reserves
What a difference a year can make in the life of a mining company.This time last year, Toronto-based American Barrick Resources was sitting with reserves totalling 3.5 million oz. in seven Canadian an…
Eastmain pumps Clearwater resource (May 12, 2003)
Based on 18 holes (10,000 metres) drilled in the second half of 2002, Eastmain Resources (ER-T) has boosted the resource estimate for its 50%-owned Eau Claire gold project in the James Bay region of Q…
Jacobina moves to feasibility (May 12, 2003)
Vancouver — The rising price of bullion has prompted Desert Sun Mining (DSM-V) to launch a feasibility study of the past-producing Jacobina gold project in northeastern Brazil.A prefeasibility study …
Higher costs take toll on Glamis
Vancouver — Higher production costs at the San Martin mine in Honduras and increased exploration spending resulted in a 40% drop in first-quarter profits for Glamis Gold (GLG-T).The Reno-based miner …
The Northern Miner Indices (May 12, 2003)
North American Mining: 66.80 (+2.33)Small Producers: 63.27 (+4.97)(Sept. 30/98 = 100)…
Producer and Dealer Prices (May 12, 2003)
Antimony: Mid-mkt US$2,540/t.Bismuth: Mid-mkt US$2.85/lb.Cadmium: Mid-mkt US$0.65/lb.Cobalt: Recent trades US$8.75-9.60/lb.Copper: Comex July US$0.724/lb.Indium: Indium Corp., ingot, US$140/kg.Iridium…
Spot Prices Wednesday May 7, 2003 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$343.00+7.00Silver$4.76+0.15Platinum$628.00+22.00…
LME Warehouse Levels (May 12, 2003)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 6 (change from April 29 in brackets):MetalStock(tonnes)ChangeAluminium1196825(+58…