Gold’s recovery lands Placer Dome in the black
Vancouver — Higher gold prices helped Placer Dome (PDG-T) generate sizable earnings in 2002, though US$40 million of unforeseen charges soured the profit margin in the fourth quarter.The company earn…
Porcupine Mine
Gold bulls bank profits
Vancouver — Canada’s junior exchange lost ground over the report period ended June 11 as investors took profits in junior gold stocks and found renewed interest in diamond explorers. The Standard & P…
Gold fever grips TSX Venture Exchange
Vancouver — With gold stocks leading the way, Canada’s junior exchange continued its upward march over the report period ended May 28. The S&P-TSX Venture Index climbed 22.9 points, or 1.9%, and clos…
It’s the real thing, says Ing
The bear market of the past six years has been a lonely time for gold bugs, so it has to be gratifying for John Ing, one of gold’s steadfast defenders, to see signs that the market is turning.In a May…
Placer, Kinross join forces in Timmins camp
One of Ontario’s oldest mining districts is getting ready for a facelift.Kinross Gold (K-T) and Placer Dome (PDG-T) have signed a letter of understanding to form a joint venture that would combine the…
Gold price fortifies Placer’s quarter
Vancouver — Higher gold prices and lower cash costs propelled Placer Dome (PDG-T) to a healthy profit in the first quarter of 2002, despite an 8% drop in production.The major earned US$43 million (or…
Placer bucks trend, posts profit
Vancouver — A strong second quarter augurs well for Placer Dome (PDG-T) as the company sets about developing various deposits to replace its aging mines.The major cranked out 747,000 oz. gold during …
Placer Dome options Vedron’s Timmins property
Toronto-based junior Vedron Gold (YVG-V) has finally closed last summer’s option agreement with Placer Dome (PDG-T).Placer can earn a 51% interest in Vedron’s sole significant asset, its namesake prop…
Hutchison: a miner’s miner
In my opinion, William Hutchison was the prime mining executive on the team from Preston East Dome and Technical Mine Consultants.Hutchison understood the importance of getting the project in producti…
Odds ‘n’ sods: Hart and Soul of Elliot Lake
In earlier columns, I referred to the Preston East Dome team and Technical Mine Consultants (TMC), which were both controlled by Joseph Hirshhorn (1899-1981). The so-called Preston East Dome team cons…
Cyprus Amax divests stake in Kinross
Cyprus Amax (CYM-N), clearing the decks for its merger with Phelps Dodge (PD-N), has arranged to sell its 31% holding in gold producer Kinross Gold (K-T) for $356 million.The deal will see t…
LETTER TO THE EDITOR — Drill spacing imperative for accuracy
In the mid- to late-1980s, my apprenticeship as a geologist at the Dome and Paymaster gold mines, and more recent exploration work in the Hoyle Pond belt of the Timmins-Porcupine camp, afforded me the…