MOST ACTIVE ISSUES (February 01, 1999)
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1999
AFRICA — De Beers ensures Botswana’s place atop rough diamond sector
The Orapa mine in Botswana is in the midst of a US$400-million expansion project aimed at boosting annual production to 12 million carats. Consequently, the mine life will be halved to 30 from 60 year…
Searchgold finds it in Gabon
Drilling by Searchgold Resources (RSG-M) has increased the resource at its Bakoudou gold deposit in southeastern Gabon.Prior to Searchgold’s program, which ended in October 1998, the deposit was drill…
AFRICA — Nora explores for Namibian diamonds
Among the ranks of Canada’s diamond producers, one company often overlooked is Montreal-based Nora Exploration (NXI-M), which is mining the rich beach deposits found along the coast of Namibia in sout…
GOLD FUNDS (February 01, 1999)
Gold Funds as of January 21, 1999BGRCentralNet Value$14.015.90Price$9.25$…
Freeport increases earnings
Record quarterly sales for copper and gold produced at its Grasberg operation in Indonesia enabled Freeport-McMoRan Copper & Gold (FCX-N) to boost earnings during the last three months of 1998.Freepor…
Noveder resumes drilling at Cabot property
With cash in hand from a recent financing, Noveder (NED-M) has resumed drilling at its Cabot copper-cobalt property in the Baie Verte region of northwestern Newfoundland.The junior raised $550,000 in …
LME WHSE LEVELS (February 01, 1999)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Jan. 19/99 (change from Jan. 12 in brackets):MetalStocks (tonnes)Change…
TSE SHORTS (February 01, 1999)
Short positions outstanding at January 15, 1999Larger individual positions include:Abitibi-Consolidated 506,921, down 422,579; Alcan Aluminium 700,662, down 361,388; Anderson Exploration 204,890, up 1…
AFRICA — South African gold miners compete with North American cousins
Dramatic restructurings at Anglogold (AU-N) and Gold Fields (GLDFY-O) suggest that South African companies are challenging their North American counterparts for dominance in the international gold sec…
AFRICA — East Africa extends Nyakafuru mineralization
Drilling by East Africa Gold (EAG-V) has extended mineralization below the resources known to exist at the Nyakafuru gold property in the Lake Victoria Goldfields district of northwestern Tanzania.The…
AFRICA — Ashanti pays off financing, holds down debt
Through a restructuring of its hedging policy, Ashanti Goldfields (AHD-T) has paid off project financing at its two newest gold mines.The Ghana-based company closed out forward sales and put options, …