News

The report period Aug. 12-24, saw the price of gold rise US$12.35 per oz. to finish at US$406.20 in the afternoon in London on Aug. 24. Gold fell more than US$4 on the final day of trading. The gold index was up 12 points to close at 193.61, and t…

Golden Star Resources (GSC-T) will not extend its bid for Iamgold (img-t), in the face of a competing, US$2.1-billion deal to merge with South Africa’s Gold Fields (GFI-N).

Toronto Venture Exchange-listed companies showed little enthusiasm over the trading period, as gold moved higher, ranging from US$395 to US$412 per oz. and then dropping to around US$403 in New York. The S&P-TSX Venture Exchange index closed up 26…

Vancouver — Infill drilling by Nevsun Resources (NSU-T) at its Bisha project in Eritrea, East Africa, has outlined high grades in all three levels.

Coeur d’Alene Mines (CDE-N) has launched anew its $2.4-billion offer to buy all the outstanding shares of Wheaton River Minerals (WRM-T).

Vancouver — Miramar Mining (MAE-T) has suffered another setback at the Doris North gold deposit, part of the Hope Bay project, 65 km east of Bathurst Inlet in Nunavut.

Vancouver — Rubicon Minerals (RMX) has intersected more high-grade gold mineralization in the Phoenix zone of its McFinley project in Ontario’s Red Lake camp.

Vancouver — A revised plan of operation at PolyMet Mining‘s (POM-V) wholly owned NorthMet project in northeastern Minnesota is entering the permitting stage.

Vancouver — Copper and gold resources in the southern, open-pit portion of Ivanhoe Mines‘ (IVN-T) Oyu Tolgoi deposit in Mongolia have been upgraded to the measured and indicated category.

Vancouver — Infill drilling by Uruguay Mineral Exploration (UME-V) at the Arenal deposit in Uruguay is demonstrating sufficient grade consistency to warrant construction of the initial pit. Startup is planned for late 2004.

Vancouver — An unnamed major international bank has offered $1 billion in the form of a loan toward financing development of the Cerro Casale porphyry gold-copper project in northern Chile.