EXCHANGE RATES (May 22, 2000)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateMay 16May 15May 12May 11May 10…
News
Black Hawk reports mixed results
Despite record output and lower cash costs, Black Hawk Mining (BHK-T) failed to turn a profit in 1999.Net losses totalled US$12.3 million (or 10 per share) on revenue of US$31.7 million, compared wit…
Inmet options Altius ground
North-central Newfoundland is proving to be a popular destination for companies on the trail of massive sulphide deposits. Inmet Mining (IMN-T), by teaming up with Altius Minerals (ALS-V), is the late…
Iamgold rakes in profits from Sadiola Hill
The Sadiola Hill gold operation in Mali has allowed Iamgold (IIMG-T) to post hefty profits and boost its balance sheet to US$72.7 million in cash.The company and operating partner AngloGold (AU-N) eac…
Northgate secures funds for Kemess mine in B.C.
Northgate Exploration (NGX-T) has arranged a US$100-million financing package from Scotia Capital, which will be used to repay a portion of the US$145-million bridge loan provided by Trilon Financial …
Noranda cuts copper-gold
Drilling by Noranda (NOR-T) has encountered significant copper-gold mineralization at the El Morro porphyry property in north-central Chile.The major, which can earn a 70% interest in the property fro…
Taurus to bulk-sample Fenelon
An option agreement with Fairstar Explorations (FFR-T) sets the stage for International Taurus Resources (ITS-V) to carry out a bulk sample that could lead to a feasibility study of the Fenelon gold p…
Ashanti produces more, earns less
Higher gold production was not sufficient to offset the effect of low gold prices for Ashanti Goldfields (ASL-N) during the first quarter.The Ghana-based company posted earnings of US$6.9 million (or …
GREATEST VALUE TRADED, May 10-16
ExchgVal($000s)HighLowCloseChangeAlcoa*N 577590 68.44 64.56 66.94 + 0.82…
Tan Range attracts interest
Gold exploration companies are having a tough time rekindling investor interest in the current bear market. However, one company that seems to be doing just that is Tan Range Exploration (TNX-V). The …
Southern Rio funds work
Junior Southern Rio Resources (SNZ-V) has arranged a $338,000 private placement financing for a total of 2.25 million shares priced at 15 each.Proceeds will be used to acquire copper properties in Ch…
MOST ACTIVE ISSUES, May 3-9
At press time, the figures for the Most Active Issuesfor the week of May 3rd to 9th were not available.We apologize for the inconvenience.