Broad advance for US miners
The trading period April 30-May 5 was broadly positive for U.S. markets, with the Dow Jones Industrial Average advancing 85.37 points to 8,588.36 and the broader-based Standard & Poor’s 500 index up 1…
Newmont Mining Corporation
NovaGold spins off assets
Vancouver — NovaGold Resources (NRI-T) and Viceroy Resource (VOY-T) have formed an company to explore for gold in the Yukon and British Columbia.Dubbed SpectrumGold, the company will hold all of Nova…
Newmont inks deal with Andean (May 12, 2003)
Vancouver — Newmont Mining (NEM-N) has signed a letter of intent with Andean American Mining (AAG-V) to earn up to a 60% interest in the junior’s Santa Rosa gold-silver property in Peru.The agreement…
Northern Miner Indices (May 05, 2003)
NORTH AMERICAN MINING INDEXCompanyTickerWeightBarrickABX-T20.0%CamecoCCO-T3.6%FalconbridgeFL-T4.6%Freeport McM BFCX-N5.8%GoldcorpG-T4.5%IncoN-T8.0%Kinross GoldK-T4.5%Newmont MiningNEM…
Miners in retreat
Despite a stronger performance by base metals, the share prices of the base metal giants took a pounding during the April 23-29 report period.Investors are concerned about base metals’ exposure to any…
Market stats point to summer slump
Canada’s junior exchange lost ground over the week ended April 29 as investors anticipated an annual summertime sell-off. The S&P-TSX Venture Exchange composite index shed 16.62 points, or 1.58% of it…
Alcoa trims more workers
The biggest news of the week was Alcoa’s announcement it will cut production and staff at three smelters, in Rockdale, Tex., Massena, N.Y., and Ferndale, Wash.After cutting 10,000 jobs in 2002, the co…
Placer Dome gives nod to Getchell project
Vancouver — Placer Dome (PDG-T) is preparing to start up the Turquoise Ridge gold mine, part of the Getchell project in northwestern Nevada’s Humboldt Cty.The daily milling rate is projected to be 1,…
Barrick’s Oliphant receives sweet sendoff
Dry any tears you may have shed for Randall Oliphant, unceremoniously dumped in February from his position as president and CEO of Barrick Gold.While that move was widely viewed as Oliphant’s punishme…
Busy week for base metals
The base metal miners took the spotlight away from the golds during the report period ended April 15.BHP Billiton rose 20 to US$11.56 as it launched a 10-year, US$850-million global bond, part of whi…
US golds take hit as price falls
A steep dip in the price of gold pushed U.S. gold producers lower over the April 2-8 report period. The yellow metal was fixed at US$324.10 per oz. on the morning of April 9, for a loss of $6.15 on th…
Geomaque reworks Defiance deal with Aussie miner St Barbara
Under a revised plan, Geomaque Resources (GEO-T) will play a larger role in the creation of an international gold mining company.In January, Geomaque announced plans to merge with Australia-listed St …