Higher costs take toll on Glamis
Vancouver — Higher production costs at the San Martin mine in Honduras and increased exploration spending resulted in a 40% drop in first-quarter profits for Glamis Gold (GLG-T).The Reno-based miner …
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Producer and Dealer Prices (May 12, 2003)
Antimony: Mid-mkt US$2,540/t.Bismuth: Mid-mkt US$2.85/lb.Cadmium: Mid-mkt US$0.65/lb.Cobalt: Recent trades US$8.75-9.60/lb.Copper: Comex July US$0.724/lb.Indium: Indium Corp., ingot, US$140/kg.Iridium…
Spot Prices Wednesday May 7, 2003 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$343.00+7.00Silver$4.76+0.15Platinum$628.00+22.00…
LME Warehouse Levels (May 12, 2003)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 6 (change from April 29 in brackets):MetalStock(tonnes)ChangeAluminium1196825(+58…
Exchange Rates (May 12, 2003)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateMay 6May 5May 2May 1April 30US$ in C$1.40821.41321.42231.4188…
Broad advance for US miners
The trading period April 30-May 5 was broadly positive for U.S. markets, with the Dow Jones Industrial Average advancing 85.37 points to 8,588.36 and the broader-based Standard & Poor’s 500 index up 1…
Summit leads to workplace policy on AIDS
Among the results of the recent Mining Industry HIV/AIDS Summit near Johannesburg is a resolution that all workplaces in South Africa institute sound policies and programs to deal with AIDS by next ye…
NovaGold spins off assets
Vancouver — NovaGold Resources (NRI-T) and Viceroy Resource (VOY-T) have formed an company to explore for gold in the Yukon and British Columbia.Dubbed SpectrumGold, the company will hold all of Nova…
San Sebastian powers Hecla Mining
With gold and silver prices on the rise, and mining costs on the slide, Hecla Mining (HL-N) ventured further into the black during the first three months of 2003.The Idaho-based miner made US$6.7 mill…
Falco extends Kidd grounding
With the zinc market showing no signs of recovery, Falconbridge (FL-T) is extending by a month the previously planned 9-week shutdown of refining operations at its Kidd metallurgical site in Timmins, …
Newmont inks deal with Andean (May 12, 2003)
Vancouver — Newmont Mining (NEM-N) has signed a letter of intent with Andean American Mining (AAG-V) to earn up to a 60% interest in the junior’s Santa Rosa gold-silver property in Peru.The agreement…
Broad market stages rally
Fueled in part by gains in the gold and base metal sectors, the Toronto Stock Exchange rocketed 148.32 points over the April 30-May 6 report to land at 6,693.71.By the period’s end, the gold group had…