Placer Dome earns less on higher output
Vancouver — Despite record production and strong operating cash flow in the third quarter, Placer Dome (PDG-T) suffered a loss in profits, owing to a derivatives expense.The major earned US$21 millio…
Placer Dome Inc
Linear takes on MIM projects (November 10, 2003)
Linear Resources (LRR-V) has closed its acquisition of Australian miner MIM’s Central American exploration projects, giving the Halifax-based explorer a presence in Mexico, Panama and the Dominican Re…
Barrick rumbles as gold tumbles
Gold took a pounding over the Oct. 29-Nov. 4 report period, withering US$8.25 in overseas trading to settle at London morning fix of US$378.30 per oz. Silver also got smacked, losing US22 to finish a…
DRD gains 20% of Porgera
South African-based Durban Roodepoort Deep (DROOY-Q) has agreed to acquire Australian-listed Oil Search’s 20% interest in the 760,000-oz.-per-year Porgera gold mine in Papua New Guinea, for US$73.8 mi…
Goulagou yields gold for St. Jude
Vancouver — St. Jude Resources (SJD-V) has tabled additional encouraging drill results from its Goulagou gold project in Burkina Faso.The company is drilling the GG1, GG2 and Yabonsgo gold prospects,…
Placer Dome tops up till
Vancouver — Looking to refinance costs associated with the recent acquisition of East African Gold Mines, Placer Dome (PDG-T) has added US$530 million to its till.The major issued US$300 million of u…
Major slippage at Grasberg
The biggest news during the report period ended Oct. 14 was a major rockfall at Freeport-McMoRan Copper & Gold’s 90.6%-owned Grasberg open-pit mine in Indonesia. Two employees are known to be dead, si…
Metal traders run down gold
Gold bugs caught a chill in the first week of October: by the morning of Oct. 7, an ounce of the yellow metal was fetching US$376.20 in London markets, or US$8.30 less than a week earlier. Silver fare…
Newmont eyes Ghana for growth
Vancouver — Denver-based Newmont Mining (NEM-N) expects production to rise by 5.5% this year, reaching 7.2-7.4 million oz. (Thereafter, from 2004 to 2006, yearly output will settle down to 7 million …
Cambior, Ariane kindle merger mania
The Toronto Stock Exchange’s gold index gave back its recent gains, and then some, during the report period ended Sept. 30, as the yellow metal yo-yoed its way US$3 per oz. higher to an afternoon fix …
Newmont outlines 5-yr plan
The Denver Gold Forum, held Sept. 22-24, provided a platform for 60 of the world’s biggest precious metals miners to strut their stuff in front of investors. This year, almost all the audio portion of…
Crystallex gets Cristinas numbers (September 22, 2003)
A feasibility study on the Las Cristinas gold project in Bolivar state, Venezuela, has concluded that a 300,000-oz.-per-year operation would be economic at present gold prices, and project operator Cr…