Rio Algom’s operations enjoy profitable quarter
While weak copper prices hurt its bottom line, Rio Algom (ROM-T) nevertheless turned in a strong quarter from an operational standpoint, with both increased copper production and lower cash costs.The …
Articles by Northern Miner Staff
SPOT PRICES (May 11, 1998)
Wednesday, May 6, 1998Price (US)Week’s ChangeGold*$303.50- $4.05Silver*$ 6.08…
NEWS IN BRIEF (May 11, 1998)
Yukon Spirit Mines (YSM-V) has changed its name to GaineyResources (GRD-V) on a 1-new-for-7.4-old-share basis.
Wheaton River advances Bellavista — Prefeasibility study foretells of low cash costs
Wheaton River Minerals (WRM-T) is making a name for itself by acquiring underdeveloped gold properties and breathing new life into them through canny management and the introduction of low-cost heap-l…
Noranda forges sulphur pact as part of restructuring
Toronto-based Noranda has signed an agreement with Wilmington, Del.-based chemical giant DuPont to form Noranda DuPont LLC, a 50-50 joint venture, to market, transport and distribute sulphuric acid in…
Ontario, BC prospectors get funding
The Ontario government is looking to boost mineral exploration in the province by putting $2 million into the Ontario Prospectors Assistance Program (OPAP).”We support the mineral exploration industry…
MINING MARKETS AND INVESTMENT NEWS – Investment Commentary — Canaccord watches diamond development in Russia
A Russian diamond project involving Archangel Diamond (AAD-V) is being closely watched by Canaccord Capital’s resident diamond expert, David James.James rates the company a “speculative buy” and is pa…
MINING MARKETS AND INVESTMENT NEWS — Eastern Markets — Precious metals slump while base metals languish
During the report period April 29-May 5, the Toronto Stock Exchange 300 composite index recovered from the previous period’s scare over interest-rate hikes. The index closed the period at 7,720.12, up…
PRODUCER AND DEALER PRICES (May 11, 1998)
Aluminium: LME settlements US$1,414, alloy US$1,291 per tonne (May 5/98).Antimony: Representative mid-market US$1,525 per tonne (May 5/98).Bismuth: Representative mid-market US$3.90 per lb. (May 5/98)…
Condor identifies kimberlite pipe
Initial results of till sampling have revealed highly anomalous kimberlite indicator minerals at the Kikerk Lake diamond project in the Northwest Territories.Condor International Resource (COD-V) repo…
LME Warehouse Levels (May 11, 1998)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Apr.28/98 (change from Apr. 21 in brackets):MetalStock(tonnes)Change…
Abacus hits hot values at La Manchuria
Abacus Minerals (AMC-T) has received results from the first two holes of its recently completed first-phase drill program at the La Manchuria property in Argentina’s Santa Cruz province.Both holes enc…