Gammon Lake raises funds (August 25, 2003)
Gammon Lake Resources (GAM-T) has raised $17.25 million in a private placement, with proceeds earmarked for the Northeast Ocampo gold-silver project in Mexico.The Dartmouth, N.S.-based company issued …
News
Kinross pulls plug on Lupin
Soaring costs have forced Kinross Gold (K-T) to suspend operations at its Lupin mine in Nunavut, 400 km northeast of Yellowknife.Despite a restructuring plan that improved costs, the stronger Canadian…
Redcorp hits new zone at Tulsequah Chief
Vancouver — At the Tulsequah Chief massive sulphide property in northwestern British Columbia, an ongoing 8,000-metre drill program has intersected a gold-rich zone 90 metres west of the current reso…
US traders eye producers
The Aug. 13-19 report period was a good time to be a metal producer south of the border, with gold, copper and diversified miners all moving ahead.Among the more notable issues in the gold sector was …
Spot Prices Wednesday August 20, 2003 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$362.20+6.20Silver$5.00+0.13Platinum$704.00+16.00…
Jilbey to raise $1.2m for gold projects
Vancouver — Jilbey Gold Exploration (JLB-V) has entered into an agency agreement with First Associates Investments to raise $1.2 million for its Taranga and Nongo Fayere gold exploration permits in B…
Black Hawk narrows losses
With fewer tonnes milled, Black Hawk Mining (BHK-T) lost US$358,000 during the 3-month stretch ended June 30.The loss translates into nil per share, and compares with a year-earlier net loss of US$409…
Northern Miner Indices (August 25, 2003)
NORTH AMERICAN MINING INDEXCompanyTickerWeightBarrick GoldABX-T19.4%CamecoCCO-T3.6%FalconbridgeFL-T4.7%Freeport McM BFCX-N7.1%GoldcorpG-T4.4%IncoN-T7.8%Kinross GoldK-T4.3%Newmont Minin…
Lending Rates (August 25, 2003)
as of 4 pm ET, Aug. 19, 2003(%)Bank of Canada3.00Canadian Prime4.75U.S. Discount Primary2.00U.S. Fed Funds market rate0.93U.S. Prime4.00LIBOR US$ 3-month1.13LIBOR US$ 6-month1.18LIBOR US$ 1-ye…
Producer and Dealer Prices (August 25, 2003)
Antimony: Mid-mkt US$2,270/t.Bismuth: Mid-mkt US$3.05/lb.Cadmium: Mid-mkt US$0.68/lb.Cobalt: Recent trades US$9.80-11.25/lb.Copper: Comex Sept. US$0.8025/lb.Indium: Indium Corp., ingot, US$180/kg.Irid…
Bulls charge, gold bugs fly higher
The “Blackout of 2003” failed to darken the mood of investors, who pushed the Toronto Stock Exchange composite index 128.80 points higher over the Aug. 13-19 report period. The benchmark finished at 7…
Scenes from a dark place
Readers in more civilized parts of the world are thanked for their concern. Southern Ontario has not descended into chaos. Mind you, you could be forgiven for thinking it might have, especially in vie…