Black Hawk reports mixed results
Despite record output and lower cash costs, Black Hawk Mining (BHK-T) failed to turn a profit in 1999.Net losses totalled US$12.3 million (or 10 per share) on revenue of US$31.7 million, compared wit…
Articles by Northern Miner Staff
Inmet options Altius ground
North-central Newfoundland is proving to be a popular destination for companies on the trail of massive sulphide deposits. Inmet Mining (IMN-T), by teaming up with Altius Minerals (ALS-V), is the late…
Iamgold rakes in profits from Sadiola Hill
The Sadiola Hill gold operation in Mali has allowed Iamgold (IIMG-T) to post hefty profits and boost its balance sheet to US$72.7 million in cash.The company and operating partner AngloGold (AU-N) eac…
Northgate secures funds for Kemess mine in B.C.
Northgate Exploration (NGX-T) has arranged a US$100-million financing package from Scotia Capital, which will be used to repay a portion of the US$145-million bridge loan provided by Trilon Financial …
Noranda cuts copper-gold
Drilling by Noranda (NOR-T) has encountered significant copper-gold mineralization at the El Morro porphyry property in north-central Chile.The major, which can earn a 70% interest in the property fro…
Taurus to bulk-sample Fenelon
An option agreement with Fairstar Explorations (FFR-T) sets the stage for International Taurus Resources (ITS-V) to carry out a bulk sample that could lead to a feasibility study of the Fenelon gold p…
Ashanti produces more, earns less
Higher gold production was not sufficient to offset the effect of low gold prices for Ashanti Goldfields (ASL-N) during the first quarter.The Ghana-based company posted earnings of US$6.9 million (or …
GREATEST VALUE TRADED, May 10-16
ExchgVal($000s)HighLowCloseChangeAlcoa*N 577590 68.44 64.56 66.94 + 0.82…
Franco-Nevada helps prop up sagging TSE
Hit by profit-taking, the Toronto Stock Exchange 300 index retreated 2.3%, or 215.89 points, during the May 3-9 report period. The broad market ended the week at 9,294.39.Gold climbed 20 over the per…
Metal Prices (May 15, 2000)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateMay 9May 8May 5May 4Ma…
LME WHSE LEVELS (May 15, 2000)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 9/00 (change from May 2 in brackets):MetalStock (tonnes)Change…
EXCHANGE RATES (May 15, 2000)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateMay 9May 8…