Fortune cashes up
Fortune Minerals (FT-T) has privately placed 643,500 units at 70 apiece to The Contrarian Resource Fund and three…
News
Outokumpu cashes in Inmet shares
Finland’s Outokumpu has raised 23 million euros via the sale of about 4 million shares in Inmet Mining (IMN-T)….
The Northern Miner Indices (October 06, 2003)
North American Mining: 87.61 (-5.25)Small Producers: 80.13 (-9.87)(Sept. 30/98 = 100)…
Cambior, Ariane merge
Montreal-based miners Cambior (CBJ-T) and Ariane Gold (AGD-T) have agreed to merge with an eye toward developing the latter’s Camp Caiman project in French Guiana.Under the proposed nuptials, Ariane s…
Royalty financing
Royalty financing provides companies with an additional potential source of funds for exploration, project development and other financing needs. The basic concept of royalty finance is that a company…
American Mining Hall of Fame inducts three
The 21st annual American Mining Hall of Fame awards banquet, sponsored by the Mining Foundation of the Southwest, will be held at the Sheraton Tucson in Tucson, Ariz., on Dec. 6.Each year, several ind…
Metals Commentary: Nickel strong as copper improves
CopperAs demand indicators are improving, the focus is shifting more towards copper’s supply side and the potential for restart of idled capacity as prices rise.In contrast to the other base metal mar…
Newmont eyes Ghana for growth
Vancouver — Denver-based Newmont Mining (NEM-N) expects production to rise by 5.5% this year, reaching 7.2-7.4 million oz. (Thereafter, from 2004 to 2006, yearly output will settle down to 7 million …
Inco deals debentures
Taking advantage of low interest rates, Inco (N-T) intends to offer US$300 million worth of debentures in order to retire existing notes.Net proceeds, expected to top $297 million, are earmarked for t…
LME Warehouse Levels (October 06, 2003)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Sept. 29 (change from Sept. 23 in brackets):MetalStock(tonnes)ChangeAluminium1,370,875…
Resource-sector deals drive junior exchange
Vancouver — Canada’s junior exchange finished the week ended Sept. 30 with a modest gain, compared with previous weeks. The S&P-TSX Venture Exchange composite index finished the period up 3.53 points…
Northern Miner Indices (October 06, 2003)
NORTH AMERICAN MINING INDEXCompanyTickerWeightBarrick GoldABX-T19.4%CamecoCCO-T3.6%FalconbridgeFL-T4.7%Freeport McM BFCX-N7.1%GoldcorpG-T4.4%IncoN-T7.8%Kinross GoldK-T4.3%Newmont Minin…