Accounting principles out of sync
The rationalization of the international gold mining industry is one of the most profound examples of globalization. The quest of the major players in this industry to reduce production costs, attract…
News
Wanted: flow-through extension
Securities reform and the federal “super” flow-through share program were at the top of the agenda of the Prospectors & Developers Association of Canada, when it submitted its brief at the recent mine…
People (October 27, 2003)
Alcan — Christine Morin-Postel appointed director;Alcoa — John Pizzey, VP and group president of primary products, will retire in early 2004; Pizzey will be succeeded by Bernt Reitan.APAC…
Gold rallies as Barrick breaks the mold
Gold roared back to life in the Oct. 15-21 report period, rising US$4 to a London morning fix of US$374.80 per oz. Silver also shone, rising US6 over the five trading days to finish at US$5 per oz.Ba…
Noranda makes cuts at Horne smelter
Determined to cut operating costs by up to $30 million, Noranda (NRD-T) is slashing production at its struggling Horne copper smelter in Rouyn-Noranda, Que.Under the plan, total feed volume to the sme…
Placer Dome tops up till
Vancouver — Looking to refinance costs associated with the recent acquisition of East African Gold Mines, Placer Dome (PDG-T) has added US$530 million to its till.The major issued US$300 million of u…
AngloGold boosts Ashanti bid (October 27, 2003)
AngloGold (AU-N) has bumped its all-share offer for Ghanaian-based Ashanti Goldfields (ASL-N) by 11.5%.The world’s third-largest gold producer is now offering 0.29 of an AngloGold share for each share…
Lateegra cuts gold at Del Norte, Clone
Vancouver — Lateegra Resources (LEG-V) is pleased with initial results from drilling at its Clone and Del Norte properties, 20 km southeast of Stewart, B.C.Del Norte, which Lateegra shares with Teuto…
Copper issues lead the way on junior exchange
Vancouver — Canada’s junior exchange finished the trading week ended October 21st on a strong note, with investors eyeing juniors with exposure to the copper market. The S&P-TSX Venture Exchange comp…
Trading Summary (October 24, 2003)
The Toronto Stock Exchange’s gold stocks rebounded to the tune of 4.01 points, or 2%, on Friday to end at 206.64, a…
Randgold ups Ashanti ante, omits cash (October 24, 2003)
True to its word Randgold Resources (GOLD-Q) has boosted its all-share offer for Ghanaian-based gold miner Ashanti…
Higher recovery rates predicted at Cerro de Maimon
Results from new metallurgical tests have given Globestar Mining (GMI-V) more reason for cheer at the advanced Cerr…