Placer targets takeover of Aussie miner
Vancouver — Falling metal prices over the past few years may have initiated consolidation in the mining industry, but as the price of bullion rises to levels not seen since 1999, the wave of mergers …
News
News – 03-JUN-02
Base metals steady as summer approaches
The major base metals continued to trade steadily to slightly lower during the report period May 20-24. The fillip of much-better-than-expected U.S. durable goods orders helped push prices to a fairly…
Commentary: Busang criticisms led to distortion
In this, the conclusion of a 2-part report, the author examines additional warning signs, or “red flags,” which supposedly should have been obvious to those involved in the Busang project in Indonesia…
Lending Rates (June 03, 2002)
as of 4 pm ET, May 28, 2002(%)Bank of Canada2.25Canadian Prime4.00U.S. Discount1.25U.S. Prime4.75LIBOR US$ 3-month1.89LIBOR US$ 6-month2.10LIBOR US$ 1-year2.66Gold lease 3-month0.33Gold lease…
Gold Funds (June 03, 2002)
Gold Funds as at May 23, 2002DundeePrecious MetalsCentral FundNet Value$26.14$5.87Price…
Exchange Rates (June 03, 2002)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateMay 28May 27May 24May 23May 22US$ in C$1.53021.53451.53481.5335…
Canadian Stock Exchange Indices (June 03, 2002)
DateMay 28May 27May 24May 23May 22HighLowTSX Composite7660.587667.037667.757725.087638.38…
BHP continues copper cuts
Vancouver — Responding to weak demand for copper, BHP Billiton (BHP-N) says it will extend production cuts at the Escondida and Tintaya operations in Chile and Peru, respectively.In November 2001, th…
Kennecott comes up empty at Jericho
Kennecott Canada Exploration unsuccessfully tested 20 exploration targets during spring drilling at Tahera’s (TAH-T) wholly owned Jericho diamond project in Nunavut.A number of kimberlite indicator mi…
Cumberland fills pockets
With gold on the move, Cumberland Resources (CBD-T) has arranged a $10.4-million bought deal with Canaccord Capital, which has agreed to buy 4 million units priced at $2.60 apiece.A unit consists of o…
Consolidation revisited
Whatever we may have been told, consolidation in the gold industry isn’t finished. Placer Dome’s A$2-billion offer to take over Aurion Gold is proof enough of that.But the scale of that bid, following…