Claude extends zone
Underground drilling at the Madsen mine in northwestern Ontario has extended the West McVeigh zone 30 metres along strike.Claude Resources (CRJ-T) sank 13 holes into the zone from the second and fourt…
1999
METAL PRICES (June 07, 1999)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateJune 1May 31May 28May 27…
MINING MARKET & INVESTMENT NEWS — INVESTMENT COMMENTARY — Rio Narcea on trail of Caesar’s Eldorado
Mike Jones of T.H. Hoare & Co. has taken a shine to Rio Narcea Gold Mines (RNG-T), operator of the El Valle gold mine in northern Spain.In a research report, the analyst notes that the open-pit mine, …
British Columbia copper mines face tough times
Deteriorating copper prices have forced 60%-owner Imperial Metals (IPM-T) to negotiate the second financial restructuring package for the Huckleberry copper mine in less than a year.The open-pit mine,…
Munk wins lifetime achievement award
Barrick Gold founder Peter Munk praised the generosity of Canadian mining companies as he accepted a lifetime achievement award in mining finance for his “vision and risk-taking” and his role in makin…
DIAMOND PAGE — Jericho aims to join ranks of producers
The development of diamond mines in Canada’s North continues apace, with Tahera (TAH-T) proposing to build an operation in the new territory of Nunavut.Canada’s first diamond operation, the US$700-mil…
MINING MARKET & INVESTMENT NEWS — U.S. MARKETS — Gold tanks, some miners gain
The Dow Jones industrial average gained 65.17 points to close at 10,596.26 for the report period ended June 1. Even though weakness in the gold and copper markets continued, some mining issues had a g…
DIAMOND PAGE — Trivalence reports loss
A sale of diamonds from the Aredor mine in Guinea has netted US$1.4 million for Trivalence Mining (TMICF-OTC).The diamonds were sold in two separate deals. In the first deal, four parcels of gem-quali…
Pangea hits high grade
Infill drilling by Pangea Goldfields (PGD-T) has encountered more high-grade gold mineralization at the Tulawaka property in Tanzania’s Lake Victoria Goldfields district.Tulawaka is a joint venture ow…
MINING MARKET & INVESTMENT NEWS — EASTERN MARKETS — Soon-to-be-sold Brit gold leaves investors cold
Gold just can’t get a break these days. The yellow metal dropped another $4.65 over the report period ended June 1, crash-landing on the LME on the morning of June 2 at US$267.05 per oz.Even silver su…
MOST ACTIVE ISSUES, May 26-June 1
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MABC doles out Mining Week hardware
The mining industry in Canada’s westernmost province may have little to cheer about, but the Mining Association of British Columbia put its best foot forward during its annual awards ceremony, held at…