Fifteen Years Ago / August 1988
Noranda buys Falco blockNoranda has quietly gone to the open market and emerged as Falconbridge’s largest shareholder.While the market was distracted by some heavy trading of the Falconbridge issue, N…
News
South African strike unlikely
Talks regarding a new contract for miners in South Africa reached an impasse in mid-July, and workers in the world’s biggest gold-producing country set a deadline of late July for the first nationwide…
People (July 28, 2003)
Alberta Star — Allan Feldman appointed head of investor relations.Aldridge — Brian Mountford resigned as president and director; Morris Beattie appointed president.Claude Res. — Robert…
East Meliadine returns poor diamond results
Some of the shine on the Churchill diamond play in eastern Nunavut has tarnished following the release of microdiamond results from the Meliadine East project: they show that nine of the 11 kimberlite…
Grasberg gold boosts Freeport
Vancouver — The second quarter of 2003 was a stellar one for Freeport-McMoRan Copper & Gold (FCX-N), which earned US$57.4 million (or US37 per share) in the three months ended June 30.The figure mar…
Daily Metal Prices (July 28, 2003)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateJuly 22July 21July 18July 17July 16Al Alloy1352/136…
Canadian Stock Exchange Indices (July 28, 2003)
DateJuly 22July 21July 18July 17July 16HighLowTSX Composite7185.18…
Rio Tinto, BP unload Kaltim
The biggest deal of the period was the proposed sale by Rio Tinto and BP of their 50-50 Indonesian joint venture, PT Kaltim Prima Coal, to Jakarta-listed Bumi Resources for US$500 million in cash and …
Buying trend buoys junior exchange
Vancouver — Canada’s junior exchange rallied near the end of the week ended July 22, with investors buying select diamond and gold-related stocks. The S&P-TSX Venture Exchange composite index gained …
Kimberlites elude Majescor
After drill-testing 11 geophysical targets at its Portage project in Quebec, Majescor Resources (MAJ-V) reports that no kimberlite was intersected.The company used a reverse-circulation rig to sample …
Central Gold-Trust closes IPO, buys gold (July 28, 2003)
North America’s first gold- bullion trust, Central Gold-Trust (GTU.UN-T), has raised $46 million and closed its initial public offering.Gold-Trust raised C$40 million by placing 2 million units priced…
Aker Kvaerner loses case, must pay US$137m
Engineering firm Aker Kvaerner is expected to appeal a Nevada court ruling that says it must pay damages of US$136.9 million plus interest and legal costs to Australia’s Equatorial Mining.If the appea…