SouthernEra reduces debt with share issue
The international arm of Rand Merchant Bank has agreed to convert another US$2 million of debt owed by SouthernEra Resources (SUF-T) into shares.RMB International (Dublin) is to receive 1.5 million sh…
News
Golden Star acquires Prestea concession
Denver-based Golden Star Resources (GSC-T) has reached an agreement with Ghana’s Prestea Gold Resources (PGR), a worker-owned company, to acquire its namesake concession.Control of the Prestea deposit…
Friedland back at Bakyrchik mine
Not for nothing has the huge Bakyrchik gold mine in northeastern Kazakstan been called “the money-pit of the steppes.” The Russians, the Australians, and then a North American company all tried to mak…
LME Warehouse Levels (June 04, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 29/01 (change from May 22 in brackets):MetalStock (tonnes)ChangeAluminium570525(+…
Namco rides out storm
Despite recent financial troubles, Namibian Minerals (NMR-T) managed to post a small profit in 2000.The company (Namco) earned US$1 million (or 2 per share) on revenue of US$41.8 million, compared wi…
Spot Prices Wed. May 30, 2001
Precious MetalsPrice (US$/oz.)ChangeGold$273.65-$10.20Silver$ 4.51-$0.01Platinum$618.00+…
Gold rally fades
Denver — The Dow Jones industrial average sunk 218.10 points, or 1.9%, to 11,039.14 during the report period May 23-29.Fears of Russian gold sales brought the yellow metal rally to an abrupt halt, wi…
Rio Grande shows copper
Vancouver-based junior Mansfield Minerals (MDR-V) is encouraged by results from the first round of drilling on the Rio Grande iron oxide-copper-gold prospect in northwestern Argentina. The program has…
Slash-and-burn tactics exposed The eco-industry
Congressman James Hansen of Utah is no bleeding-heart liberal, yet he has sponsored and supported enough environmental legislation to have been labelled “too green” by some of his Republican colleague…
HudBay explores in Nfld
A summer field program is set to begin on the Green Bay property in Newfoundland.Hudson Bay Exploration & Development, a Canadian affiliate of Anglo American (AAUK-Q), can earn an initial 60% interest…
The search for balance
I recently ordered Arctic caribou for dinner. I was surprised to see it on the menu, but there it was, one of the evening specials at a fancy restaurant at a Colorado ski resort. I then thought, If it…
High River Gold Mines adds to Buryatzoloto stake
Junior gold producer High River Gold Mines (HRG-T) has inked a deal with Japanese gold finance company Jipangu under which the former will increase its holding in Russian gold producer Buryatzoloto to…