Inmet options Altius ground
North-central Newfoundland is proving to be a popular destination for companies on the trail of massive sulphide deposits. Inmet Mining (IMN-T), by teaming up with Altius Minerals (ALS-V), is the late…
2000
Iamgold rakes in profits from Sadiola Hill
The Sadiola Hill gold operation in Mali has allowed Iamgold (IIMG-T) to post hefty profits and boost its balance sheet to US$72.7 million in cash.The company and operating partner AngloGold (AU-N) eac…
NAP mired in red
A production shortfall at its Lac des les mine, near Thunder Bay, Ont., contributed to a net loss in 1999 for North American Palladium (PDL-T).The loss amounted to $5.2 million on revenue of $44.6 mi…
VenCan acquires projects
As well as evaluate the potential of claims near the Edwards gold mine in southern Ontario, VenCan Gold (VCG-M) plans to explore newly acquired mineral projects in New Brunswick and Quebec.The Toronto…
Northgate secures funds for Kemess mine in B.C.
Northgate Exploration (NGX-T) has arranged a US$100-million financing package from Scotia Capital, which will be used to repay a portion of the US$145-million bridge loan provided by Trilon Financial …
Noranda cuts copper-gold
Drilling by Noranda (NOR-T) has encountered significant copper-gold mineralization at the El Morro porphyry property in north-central Chile.The major, which can earn a 70% interest in the property fro…
Taurus to bulk-sample Fenelon
An option agreement with Fairstar Explorations (FFR-T) sets the stage for International Taurus Resources (ITS-V) to carry out a bulk sample that could lead to a feasibility study of the Fenelon gold p…
Spot Prices, Wed. May 17, 2000
Precious MetalsPrice (US$/oz.)ChangeGold$274.85-$2.95Silver$ 5.04+$0.01…
Ashanti produces more, earns less
Higher gold production was not sufficient to offset the effect of low gold prices for Ashanti Goldfields (ASL-N) during the first quarter.The Ghana-based company posted earnings of US$6.9 million (or …
Nickel springs back as Inco strike nears
The May 10-16 report ended with a shadow being cast over the nickel market after workers at Inco’s Sudbury workers voted overwhelmingly in favour of a strike mandate.On May 16, union members handed th…
REGULAR DEPARTMENTS (May 22, 2000)
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Aber unveils bankable study
Canada’s fledgling diamond industry took another step forward with the release of a bankable feasibility study for the Diavik project in the Lac de Gras region of the Northwest Territories.The study s…