Metal price rally sends producers higher
A rally in metal prices pushed both gold and base metal producers to higher ground over the holiday-shortened Aug. 27-Sept. 2 report period. The Toronto Stock Exchange gold subgroup tacked on 5.38 poi…
Noranda Inc
Holiday hangover overcomes market
The holiday-shortened July 30-Aug. 5 report period was marked by more sellers than buyers, causing the Toronto Stock Exchange composite index to slip 37.81 points and land at 7,180.54.Gold reversed co…
Noranda cuts dividend
Burdened with some $4.1 billion in net debt, Noranda (NRD-T) is slashing its traditionally juicy dividend by 40%.The decision, which entails reducing the quarterly payment to 12 from 20 per share, i…
Bema extends zone at Monument Bay
Drilling at the Monument Bay property in northeastern Manitoba has extended a portion of the Twin Lakes gold deposit.Bema Gold (BGO-T), which is earning an interest in the property under an option fro…
Strike ends at Horne
After nearly a year, strikers have returned to work at Noranda’s (NRD-T) Horne copper smelter in Rouyn-Noranda, Que.Almost 54% of the 550 unionized production and maintenance workers voted in favour o…
Candor eyes Mary March (April 14, 2003)
Candor Ventures (CND-V) has signed a letter of intent to acquire a half-interest in the promising Mary March massive sulphide property from the Canadian exploration arm of Phelps Dodge (PD-N).Situated…
Noranda confirms Magnola plant closure
Noranda (NRD-T) is closing its 80%-owned Magnola magnesium plant is in Danville, Que. The troubled plant will be idled for at least a year, possibly longer depending on magnesium prices.Layoffs will b…
Wolfden cuts high grade at East Bay
Vancouver — The first four holes of an ongoing, 10,000-metre drill program on the East Bay property in northwestern Ontario have returned encouraging values.Partners Wolfden Resources (YWO-V) and Pla…
Metallica tops up treasury (March 17, 2003)
Metallica Resources (MR-T) has closed a $15-million private placement to help fund its purchase of the half-stake in the Cerro San Pedro gold deposit that it does not already own.The company agreed to…
Exploration heats up in SW New Brunswick
Despite a slump in base metal exploration, 2002 proved to be a banner year for precious metals in New Brunswick. It was gold’s turn to shine as exploration efforts turned up widespread occurrences in …
Noranda to idle troubled Magnola plant
Noranda (NRD-T) will temporarily close its 80%-owned Magnola magnesium plant in Danville, Que., and take an after-tax charge of $630 million against fourth-quarter earnings. The move will affect 380 w…
Altius-Barrick deal triggers gold rush in Newfoundland
St. John’s, NFLD — An increased level of exploration activity in Newfoundland and Labrador has resulted in 30,500 new claims being staked this year (to the end of October), surpassing the previous hi…