Northern Miner Indices (October 20, 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…
News
Kinross to buy Crown
Determined to boost reserves and production while decreasing costs, Kinross Gold (K-T) has agreed to acquire Denver-based Crown Resources (CRCE-O).Under the proposed deal, Crown shareholders would rec…
New brooms are out all over the place From the Rock . . .
An election is due in Newfoundland and Labrador later in the month, and at this stage, polls show the Conservatives under opposition leader Danny Williams with a healthy lead over Premier Roger Grimes…
BRT fails to yield base metals for Roca Mines
Vancouver — The 7-hole program cut a thick sequence of the favourable felsic unit, but only sporadic gold values were encountered. Hole 11, which tested the stratigraphy immediately downdip and north…
Early drilling positive at El Aguila
Initial drilling by Canyon Resources (CAU-X) at the El Aguila property in Oaxaca state, Mexico, has encountered near-surface gold and silver mineralization.Canyon, earning a 50% interest in the proper…
Noranda sells 12-year notes
Mining conglomerate Noranda (NRD-T) intends to sell US$350 million worth of unsecured debentures in order to repay existing notes.Net proceeds are mainly earmarked for US$300 million worth of existing…
Jilbey drills Taranga (October 20, 2003)
Jilbey Gold Exploration (JLB-V) has begun drilling at its Taranga gold permit in Burkina Faso.The property, which covers 240 sq. km of the Bouroum-Yalogo greenstone belt, was acquired earlier this yea…
Pacific Min advances 217
Vancouver — Pacific Minerals (PMZ-V) has launched a mine development scoping study for the 217 gold project in China’s Inner Mongolia region. The junior has hired the Chinese Design Institute to prov…
Sandvik to outsource jobs
Sandvik plans to sub-contract its service operations to outside businesses in an effort to cut costs.The areas of the company most likely to be affected include building construction and facilities ma…
Producer and Dealer Prices (October 20, 2003)
Antimony: Mid-mkt US$2,250/t.Bismuth: Mid-mkt US$3.05/lb.Cadmium: Mid-mkt US$0.65/lb.Cobalt: Recent trades US$9.95-12.00/lb.Copper: Comex Dec. US$0.8635/lb.Indium: Indium Corp., ingot, US$180/kg.Iridi…
Lending Rates (October 20, 2003)
as of 4 pm ET, Oct. 14, 2003(%)Bank of Canada3.00Target overnight rate2.75Canadian Prime4.50U.S. Discount Primary2.00U.S. Fed Funds market rate1.00U.S. Prime4.00LIBOR US$ 3-month1.15LIBOR US$ …
Exchange Rates (October 20, 2003)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateOct. 13Oct. 10Oct. 9Oct. 8Oct. 7US$ in C$Holiday1.32051.3399…