EXCHANGE RATES (May 03, 2010)
CANADIAN/U. S. EXCHANGE (Bank of Canada noon rate) Date Apr. 26 Apr. 23 Apr. 22
News
GobiMin sells Yanxi deposit
GobiMin (GMN-V) has agreed to sell most of its equity interest in the Yanxi copper deposit in China’s Xinjiang province for $9 million in convertible bonds and cash to China Daye Non-Ferrous Metals Mi…
Mineral exploration in the NWT falls 80% in 2009
Canada’s Northwest Territories seems to be of waning interest to mine-finders, according to a new estimate from Natural Resources Canada (NRCan).
Shaft collapse kills worker at Wolverine mine
VANCOUVER — A shaft collapse at the Wolverine mine in the Yukon has killed one worker, marking the second death at the mine in the past year.
Greystar gets blindsided
Steve Kesler hardly had time to get comfortable in his new chief executive’s chair before finding himself in the midst of a historic problem.
More high-grade, shallow gold for Avion in Mali
VANCOUVER — The near-surface gold grades at the Tabakoto project in Mali keep getting better for Avion Gold (AVR-V) and now the company is being rewarded for its efforts with a $25-million bought-dea…
Sweet gold hits for Virginia at Wabamisk
VANCOUVER — In its search for high-grade gold and silver veins, Virginia Mines (VGQ-T) has drilled a few enticing high-grade gold hits at its Wabamisk property in Quebec.
SPOT PRICES (May 03, 2010)
COURTESY OF SCOTIABANK
First Uranium lowers value of operations (May 03, 2010)
VANCOUVER — First Uranium (FIU-T, FUM-J) has been forced to significantly drop the estimated value of its South African gold-uranium operations after cost escalations and permitting issues.
LME WAREHOUSE LEVELS (May 03, 2010)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, April 27, 2010 (change from Apr. 20 in brackets):
Taxes and rumours of taxes
Governments squeezed the golden mining goose a little tighter in two major mining countries over the week.
Newcrest still in running for Lihir
Despite Lihir Gold’s (LGG-T, LGL-A, LIHR-Q) rejection of Newcrest Mining’s (NCM-A) offer on April 1, the potential to create the leading gold company in Asia Pacific may be too strong to ward off inde…