Exchange Rates (December 17, 2001)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateDec. 11Dec. 10Dec. 7Dec. 6Dec. 5US$ in C$1.57781.57831.57241.5767…
Articles by Northern Miner Staff
Wolfden adds to Red Lake portfolio
Wolfden Resources (YWO-V) has added to its land position in the rejuvenated Red Lake mining district of northwestern Ontario by agreeing to take over the Skinner gold project.To acquire the 20.3-sq.-k…
Francisco eyes targets in Guatemala
Vancouver — Junior Francisco Gold (FGX-V) has identified additional targets on ground surrounding the promising Marlin Main zone in Guatemala.Regional prospecting and sampling 30 km southeast of the …
US rate cut spooks northern investors
The biggest news of the Dec. 5-11 report period came from south of the border, where the U.S. Federal Reserve Board knocked another 25 basis points off the federal funds rate, thereby reducing it to i…
Green light flashes for Thunderbox mine
Partners LionOre Mining International (LIM-T) and Australian-listed Dalrymple Resources will proceed with development of the Thunderbox gold project in Western Australia.With a 4-year finance facility…
First Point finds more gold at Filo Lapa (December 17, 2001)
Vancouver — First Point Minerals (FPX-V) has found higher gold grades during trenching at its Cacamuya project in Honduras.The work was concentrated at the Filo Lapa zone and the recently discovered …
Canaccord revises PGM forecast downward
In a November research report, Canaccord’s London-based gold analyst, Roger Chaplin, lowers his price projections for platinum group metals (PGMs) and their producers.Building on PGM supply-and-demand…
CDNX loses ground on new S&P index
Vancouver — The Canadian Venture Exchange launched a new composite index during the week ended Dec. 11. Based on market capitalization, the Standard & Poor’s-CDNX Composite Index is meant to provide …
Codelco plans copper cuts (December 17, 2001)
Vancouver — The world’s largest copper producer has finally entered the fold of the other majors by announcing it will cut output by at least 100,000 tonnes in 2002.The move by Chile’s state-owned Co…
Algoma Steel wins more time
Century-old steel producer Algoma Steel (ALG-T) is breathing a sigh of relief after the third time proved to be the charm for its debt restructuring.The company announced it has filed a third amended …
Daily Metal Prices (December 17, 2001)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateDec. 11Dec. 10Dec. 7Dec. 6Dec. 5Aluminium1335/1351.
Producer and Dealer Prices (December 17, 2001)
Antimony: Mid-mkt US$1,230/t.Bismuth: Mid-mkt US$3.25/lb.Cadmium: Mid-mkt US$0.27/lb.Chromium: Mid-mkt ores US$65.00/t.Cobalt: Recent trades US$6.95-8.00/lb.Copper: Comex Mar. US$0.689/lb.Indium: Indi…