Spot Prices Wed. May 22, 2002
Precious MetalsPrice (US$/oz.)ChangeGold$318.25+$10.75Silver$ 4.82+$0.22Platinum$541.00+…
Articles by Northern Miner Staff
LME Warehouse Levels (May 27, 2002)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 21 (change from May 14 in brackets):MetalStock(tonnes)ChangeAluminium1145650(+140…
GREATEST VALUE TRADED, MAY 15-21
ExchgVal($000s)HighLowCloseChangeAurado ExplT101820.420.230.39+0.18…
Ivanhoe hits more gold at Turquoise Hill
Vancouver — Ivanhoe Mines (IVN-T) has tabled encouraging drill results from the Central zone at its wholly owned Turquoise Hill (Oyu Tolgoi) gold-copper project in southern Mongolia.Seven holes drill…
Geomaque bleeds red in 2001
Struggling junior gold miner Geomaque Explorations (GEO-T) has released its year-end financial results, and they aren’t pretty.The net loss for the year ended Dec. 31, 2001, was US$10.5 million (US17…
Meridian eager to drill Machacala (May 27, 2002)
Meridian Gold (MNG-T) is gearing up for its first round of exploration drilling at the Machacala gold-silver property in Peru, held by Montreal-based junior Gold Hawk Resources (CGK-V).As operator, Me…
Commentary: Some new perspectives on Busang’s red flags
According to the critics of Bre-X’s gold project in Kalimantan, Indonesia, the warning signs, or “red flags,” were numerous and obvious and should have alerted those involved that the gold mineralizat…
Ivanhoe drives Mongolian exploration
Vancouver — After a decade of false starts, mineral exploration is finally gaining some traction in Mongolia.A vast highland country, Mongolia is land-locked between Russia to the north and China to …
Auto sector drives platinum demand
Demand and prices for platinum will remain firm, but the outlook for palladium is less positive, according to Platinum 2002, an annual report published by London-based Johnson Matthey.Demand for plati…
Kennecott undeterred at Rockinghorse (May 27, 2002)
Spring drilling by Kennecott Canada Exploration on 12 exploration targets at the Rockinghorse joint venture in Nunavut’s emerging Coronation Gulf district failed to intersect any new kimberlites. Howe…
Harmony resumes mining after day of violence
Two miners and a security guard have been injured in a violent outbreak at Harmony Gold Mining’s Kalgold mine in northeastern South Africa.Striking miners allegedly attacked the mine’s security person…
Inco strike misguided
The Inco strike is a bad strike — bad for the workers, bad for the company, bad for the community and ultimately bad for the country.It’s hard to fathom why 72% of the 10,000 members of Local 6500 of…