News

Vancouver-based Tone Resources () has entered into an agreement with Teck Cominco (TEK-T) to explore an area of mutual interest in Nevada.

BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)…

The S&P-TSX Composite Index gathered 246.78 points to end the March 31-to-April 6 report period at 8,832.71. The gains were not a result of the golds, which fell 3.43 points to 226.44. The price of the yellow metal fell US$5.80…

Robust prices for gold and silver triggered another round of trading activity on the TSX Venture Exchange over the report period March 31-April 6. The composite index was up about 20 points at 1,881 over the week.

Saskatoon-based Cameco (CCO-T) and the National Atomic Co. of Kazakstan plan to spend some US$38 million to bring the Inkai uranium deposit in that country into commercial production in 2007.

With assay results in hand from an additional 21 holes, Imperial Metals () is expected to release an updated reserve and resource statement for its wholly owned Mount Polley copper-gold project in central British Columbia.

Vancouver-based Kimber Resources () has revised its resource estimate for the Carmen deposit on the past-producing Monterde property in Mexico’s Chihuahua state.

Vancouver — NovaGold Resources () intends to acquire the shares of SpectrumGold (SGX-T) that it does not already hold.

Higher-than-expected costs at the Petrex mines in South Africa and an unrealized US$13.4-million derivative loss pushed Bema Gold () US$21.5 million into the red during the fourth quarter of 2003.

Underground definition drilling of zone 113 at the Casa Berardi gold project in Quebec continues to exceed the expectations of Aurizon Mines (ARZ-T).

The government of Sierra Leone has cancelled the diamond mining leases held by Rex Diamond Mining (RXD-T).