Norilsk buys more Stillwater
Russia’s Norilsk Nickel gave the final results of its US$32.6-million offer to buy up to 4.35 million shares (5%) of its 51%-owned subsidiary Stillwater Mining for $7.50 apiece, in cash. When the offe…
Vale S.A.
Yamana expands in Brazil
Spokane-based Yamana Resources (YRI-T) has paid US$20.9 million for the Fazenda Brasileiro gold mine in northeastern Brazil. The vendor is Companhia Vale do Rio Doce (RIO-N).The funds were made possib…
Gold majors on the march
Even with gold languishing in the low US$350-per-oz. range, all the U.S.-listed gold majors enjoyed strong gains through the report period ended July 1.Sector-leader Newmont Mining jumped $1.58 to US$…
Yamana eyes Brazilian gold production (June 30, 2003)
Vancouver — Looking to become a 100,000-oz.-per-year producer, Spokane-based Yamana Resources (YRI-T) has agreed to pay US$20.9 million for Fazenda Brasileiro, the only gold mine of Companhia Vale do…
Miners have volatile week
U.S. stock markets advanced modestly over the five trading days May 7-13, with the Standard & Poor’s 500 index up 7.91 points at 942.30 and the Dow Jones industrial average 90.89 points higher at 8,67…
A sweet week for golds
Gold bugs were delighted over the holiday-shortened report period as prices for the yellow metal surged more than US$7 to a new, 6-year high of almost US$360 per oz.Gold has been on a steady march upw…
BHP unloads CVRD stake (January 06, 2003)
Vancouver — Seeing little strategic value in holding on to its stake in iron ore producer Companhia Vale do Rio Doce (CVRD) (RIO-N), BHP Billiton (BHP-N) has agreed to sell its 2.1% indirect interest…
Eldorado expands Kisladag
Vancouver — Eldorado Gold (ELD-T) has added about 600,000 ounces to the in situ resource estimate of the Kisladag project in western Turkey.The expansion is based on 10,700 metres of reverse-circulat…
Golds slump in weak market
Dow 36,000 receded further into the distance over the report period Oct. 1-8, with the bellwether U.S. stock index plunging 437.30 points to finish at 7,501.49. But the gold stocks, which have been fe…
Southern discomfort
The news from the Latin nations of South America in recent months has not been comforting.The International Monetary Fund (IMF) recently lent Brazil US$30 billion to meet immediate debt repayments. Fa…
Low copper prices dent Codelco’s bottom line (May 20, 2002)
Vancouver — Low prices caused the world’s largest copper producer, Corporacion Nacional del Cobre de Chile (Codelco), to suffer a 37% plunge in profits in the first quarter.The company, wholly owned …
Eldorado pays down debt (March 18, 2002)
Vancouver — With its debt now under control, Eldorado Gold (ELD-T) intends to develop its assets in Brazil and Turkey.Since the completion of its special warrant financing worth $23.5 million, Eldora…