Writedown sinks Glamis Gold in quarter
Denver — Despite producing a record amount of the yellow metal, Glamis Gold (GLG-N) reported a fourth-quarter loss of US$37.5 million (or 54 per share) after posting a US$37.5-million writedown.For …
Articles by Northern Miner Staff
Altius nabs more ground
Junior Altius Minerals (ALS-V) has added two properties to its promising exploration portfolio in Newfoundland.The Fortune Bay property covers 62 claims on the eastern side of the island. Localized sh…
Ivanhoe strikes South Korean gold
Four years of grassroots exploration in South Korea is paying off for Robert Friedland’s Ivanhoe Mines (IVN-T).Near Haenam Twp., in the province of Cholla, drilling outlined an epithermal vein system …
Slumping mining index burdens CDNX
Vancouver — Canada’s junior exchange continued to drift lower as all indices except oil-and-gas ended the Feb. 14-20 report period in the red. The Canadian Venture Exchange slumped 94.78 points, or 2…
Aur digests QB purchase
As the dust settles following last fall’s purchase of the large Quebrada Blanca mine in Chile, junior copper producer Aur Resources (AUR-T) is reporting a loss for 2000.Aur posted a net loss of US$15 …
CDNX catches breath after bull run
Vancouver — Canada’s junior exchange lost ground over the week ended Feb. 13 as a modest gain in the oil and gas index failed to offset a downturn in the tech sector. The Canadian Venture Exchange lo…
LME Warehouse Levels (February 19, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Feb. 13/01 (change from Feb. 6 in brackets):MetalStock (tonnes)ChangeAluminium452575(…
Wheaton River wins approval for Bellavista
Clearing its last major regulatory hurdle, Wheaton River Minerals (WRM-T) has received final environmental approval to build its Bellavista open-pit, heap-leach gold mine in Costa Rica.Situated 20 km …
Gold Fields posts strong quarter
Denver — Cost-cutting measures and the weakening of the South African rand helped Gold Fields (GOLD-Q) post a profit in the fourth quarter of 2000.The company earned US$36 million (or 8 per share) d…
Canadian Zinc tables Prairie Creek study
Vancouver — Canadian Zinc (CZN-T) is considering ways to redevelop the existing mine and mill on the Prairie Creek property in the Northwest Territories.The scoping study, performed in-house using in…
AngloGold posts profits before writedowns
Denver — While gold production edged up and costs declined slightly in the fourth quarter, AngloGold (AU-N) recorded a profit of US$84.6 million before a writedown of US$92.9 million. The net loss fo…
McWatters suspends mining
McWatters Mining (MCW-T) has suspended all mining at its Sigma-Lamaque open-pit gold mine in Val d’Or, Que., and will review the viability of continuing operations at its nearby Kiena underground gold…