United Carina drills gold showings
A 4,000-metre drill program mounted by United Carina Resources (UCA-V) in central Newfoundland has intersected gold mineralization below surface showings, including two holes with bonanza gold values….
1999
Hecla posts quarterly loss
Hecla Mining (HL-N) lost US$36 million (or 54 cents per share) in the third quarter, compared to a loss of US$2.7 million (5 cents per share) in the corresponding period in 1998.The company was hit wi…
Pogo focus of next CIM lunch
The discovery and characteristics of the Pogo gold deposit in Alaska will be discussed at the next meeting of the Toronto branch of the Canadian Institute of Mining, Metallurgy and Petroleum, to be he…
METAL PRICES (November 08, 1999)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateNov. 2Nov. 1Oct. 29Oct. 28…
INVESTMENT COMMENTARY — Namco gets nod for successful marine diamond mining
With production results exceeding expectations and profits rolling in from the sale of top-quality gemstones, mining analysts are taking renewed interest in Namibian Minerals (NMR-T).Using new underwa…
Cambior to lose US$33 million from hedging
Trying to repair the damage caused by its failed hedging program, Cambior (CBJ-T) has reduced its position by 1.3 million oz. gold.The company bought 1 million oz. through the bullion markets at an av…
Glamis sells Ivan copper mine
Glamis Gold (GLG-T) has sold its Ivan copper mine near Antofagasta, Chile, to Minera Milpo of Lima, Peru.Glamis acquired the small underground operation through its February 1999 merger with Rayrock R…
MINING MARKETS & INVESTMENT NEWS — WESTERN MARKETS — Vancouver markets languish; Alberta chases bull
The Vancouver Stock Exchange composite index slid 1.08 points, or 0.3%, over the report period ended Nov. 2, finishing the week at 394.12. The mining index followed suit, losing 2.68 points, or 0.97%,…
MINING MARKETS & INVESTMENT NEWS — EASTERN MARKETS — TSE climbs with a little help from base metals
The Toronto Stock Exchange 300 index jumped 150.44 points during the report period ended Nov. 2 to finish at 7,215.32. Resource stocks were mixed: the metals and minerals sub-group rose 10.57 points t…
SUPPLIERS NEWS ROUNDUP — Sea rates for minerals drop
Ocean shipping rates for mineral commodities declined over the past 18 months, according to a survey by Western Mine Engineering.Rates for “Cape” vessels, the largest ocean-going transports, with a ca…
High gold values uncovered at Linear Group properties
Junior United Carina Resources (UCA-V) has received encouraging results from preliminary drilling at its Linear Group gold property near Gander, Nfld.Ten holes totalling 550.2 metres were drilled to f…
Gold Fields eyes St. Helena mine
Gold Fields (GOLD-Q) plans to acquire all the outstanding shares of Johannesburg-listed St. Helena Gold Mines it does not already own.The South African-based company hopes to acquire the shares (equiv…