Weaker US dollar to benefit gold
Gold will remain a financial refuge in these uncertain times and the year-old bull run in gold equities has not yet reached its peak, according to an October 15th report by HSBC.The document, compiled…
Kinross Gold Corporation
Bull run continues in gold stocks
Gold settled into a new, higher trading range of US$278-280 per oz. during the Oct. 31-Nov. 6 trading period, as the U.S. dollar showed some weakness in the face of widespread layoffs and slowing indu…
Cut in Bank of Canada rate falls on deaf ears
Hoping to boost investor confidence, the Bank of Canada shed 75 basis points from its key lending rate on Oct. 23, bringing it to a 40-year low. But so far, the decision appears to have backfired: the…
Gold rally sputters following US retaliation
Well, so much for the gold rally. Prices for the yellow metal began a downward trend during the Oct. 3-9 report period, falling out of a tight US$290-per-oz. trading range and quietly drifting down to…
Correction (October 01, 2001)
In our article “Franco to control Echo Bay in debt deal” (T.N.M., Sept. 17/01), we reported that Echo Bay Mines (ECO-T) would still owe accrued interest on capital securities being converted to shares…
Wheaton sells George Lake
Junior gold producer Wheaton River Minerals (WRM-T) has arranged to sell its George Lake project, near Bathurst Inlet in Nunavut, to Kinross Gold (K-T) in return for 4 million shares, worth about $6 m…
Benchmark sinks deeper but gold remains buoyant
Market pessimism is quickly changing from bad to worse, with sellers once again outpacing buyers on both sides of the border. The Toronto Stock Exchange 300 index lost 142.49 points over the Sept. 19-…
Aurora Platinum, Platinova print new shares
Recent insider-trading transactions reported by the Ontario Securities Commission in its OSC Bulletin include the following:- Agnico-Eagle Mines (AGE-T) — FMR Corp., which must report its trading act…
Franco to control Echo Bay in debt deal
A proposal by Echo Bay Mines (ECO-T) to convert a large debt into common shares would hand effective control of the company to Franco-Nevada Mining (FN-T), and put a large block of shares into the han…
TSE down 5.5% in post-terror panic
The Toronto Stock Exchange, closing early Sept. 11 in the wake of the terrorist attacks in the United States, slumped drastically in the day’s financial panic to cap a week of losses in which the TSE …
Julietta mine to start up in fourth quarter
Only months after low gold prices forced the closure of its high-cost Refugio mine in Chile, Bema Gold (BGO-T) has announced a fourth-quarter startup for its 79%-owned, fully-financed Julietta gold-si…
Broad market stumbles through holiday
Causing more sighs than cheers, the Toronto Stock Exchange 300 index sank 116.32 points over the holiday-shortened period Aug. 29-Sept. 4. The broad market ended the period at 7,462.03, for a loss of …