LME WHSE LEVELS (March 15, 1999)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Mar. 2/99 (change from Feb. 23 in brackets):MetalStocks (tonnes)Change…
News
Producer ponders expansion
Canada’s only primary producer of palladium is pondering an expansion of the Lac des les mine near Thunder Bay, Ont.Encouraged by positive results from a scoping study, North American Palladium (PDL-…
EXPLORATION 1999 – Western Pacific finds partner
SMC Resources, an Australian gold producer, has agreed to issue 31.5 million of its shares to Western Pacific Gold (WPI-A) in return for the junior’s land package in the Solomon Islands.Though still s…
Tenke declares force majeure in DRC
The war in the Democratic Republic of Congo has forced Tenke Mining (TNK-T) to suspend payments on the the huge Tenke-Fungurume copper project in Katanga province.To maintain its 55% interest in the p…
DIAMOND PAGE — Redaurum shareholders to vote on merger
At a special meeting scheduled for March 22, shareholders of Redaurum (RRK-T) will be asked to approve a business combination with Remick Investments and a 1-for-40 share consolidation.Shareholders ha…
EXPLORATION 1999 — Quebec explorers hopping despite downturn
A pro-mining policy, combined with attractive geology and enticing new discoveries, is allowing Quebec to maintain high levels of exploration spending, despite an industry downturn that has slowed exp…
Richmont, Louvem finish 1998 profitably
Richmont Mines (RIC-T) is writing its year-end story in black ink for the seventh time in a row.The Montreal-based gold producer earned a profit of $3.9 million (or 25 cents a share) on revenue of $47…
Franco, Euro declare dividends — again
With a new mine in production and bright profit pictures despite bad times for gold, Franco-Nevada Mining (FN-T) and Euro-Nevada Mining (EN-T) have declared dividends, making an unbroken 11 years of d…
DIAMOND PAGE — Ashton finds five kimberlites in Alberta
With two-thirds of the 1999 winter drill program now complete, Ashton Mining of Canada (ACA-T) reports it has discovered five new kimberlites in the Buffalo Hills region of north-central Alberta.Initi…
Moss to drill Quebec prospect
Drilling by Moss Resources (MRS-T) will test a newly outlined polymetallic showing at the Duval-Boudreault property near Val d’Or, Que. The program, scheduled to begin in late March, will also test ne…
DIAMOND PAGE — De Beers strikes deal to buy Canadian diamonds
De Beers Consolidated Mines (DBRS-Q), through Swiss-based De Beers Centenary, has reached an agreement-in-principle with BHP Diamonds to buy 35% of run-of-mine production from the Ekati diamond mine i…
MINING MARKETS & INVESTMENT NEWS – INSIDER TRADING — Etruscan execs discard options
Recent insider trading transactions reported by the Ontario Securities Commission in its OSC Bulletin, include the following:Etruscan Resources (EET-T) — Glenn Holmes, officer, disposed of 300,000 op…