Writedown costs Denison third-quarter profit
Denison Mines (DEN-T) posted a loss of $10.4 million (3 cents per share) for the third quarter, following a writedown of $11.5 million on unsuccessful offshore oil drilling in the Mediterranean Sea.Th…
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GREATEST VALUE TRADED (November 09, 1998)
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MINING MARKETS & INVESTMENT NEWS — NEWS ROUNDUP — Taurus terminates agreement
Vancouver-based International Taurus Resources (ITS-V) has cancelled its agreement with American Copper (ACC-V) to explore and develop the Lyon gold property in Yerington, Nev.Taurus intends to contin…
MINING MARKETS & INVESTMENT NEWS — NEWS ROUNDUP — Mitch halts production at Limon
The Limon gold mine in Nicaragua has been shut down following the widespread devastation caused by Hurricane Mitch.The suspension is expected to last two weeks as owner Black Hawk Mining (BHK-T) clean…
MINING MARKETS & INVESTMENT NEWS — NEWS ROUNDUP — Inmet awaits tungsten mine cash
Inmet Mining (IMN-T) will have to wait until the end of November to collect the $48 million it is owed for selling its Austrian tungsten subsidiary, Wolfram Bergbau-und Hutten (WBH).The private Europe…
MINING MARKETS & INVESTMENT NEWS — Anglogold tenders bid for Minorco’s gold assets
The world’s largest gold producer, Anglogold (AU-N), has submitted a tender offer for the gold assets of Minorco (MNRCY-Q).The acquisition would add nearly 10 million oz. to Anglogold’s reserve base p…
MOST ACTIVE ISSUES (November 09, 1998)
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MINING MARKETS & INVESTMENT NEWS — US MARKETS — US elections weigh on Dow
The Dow Jones industrial average gained 340.11 points, or 4.1%, over the Oct. 28-Nov. 3 report period to close at 8,706.15.The average showed strength early in the week but grew sluggish as the Nov. 3…
TSE INDICES (November 09, 1998)
1998Nov. 3Nov. 2Oct. 30Oct. 29Oct. 28HighLowCompo…
LME WHSE LEVELS (November 09, 1998)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Nov. 3/98 (change from Oct. 27 in brackets):MetalStocks (tonnes)Change…
Cyprus gains Indonesian asset
The coal division of Cyprus Amax Minerals (CYM-N) will acquire a controlling interest in the Mecfa property in East Kalimantan, Indonesia, from Nevada Manhattan Mining (NVMH-O).To earn an 85% interest…
Uranium Power expands in Canada
Colorado-based Uranium Power has signed a deal with the Canadian subsidiary of Phelps Dodge (PD-N) to pick up six uranium properties in northern Saskatchewan.The option deal will add 30,000 ha to Uran…