Financial woes mount for Imperial
Despite cost-cutting efforts, Imperial Metals (IPM-T) is still not producing profits at its Mount Polley and Huckleberry copper mines in B.C.The company lost $4.4 million, or 5 per share, on revenues…
2000
Noranda sweetens Rio Algom bid
Noranda (NOR-T) has raised its hostile takeover offer for Rio Algom (ROM-T) by $3 to at least $27.50 in cash per share.This revised offer trumps Billiton’s all-cash offer of $27 per share, w…
Base-metal miners enjoy favourable week
The report period Sept. 6-12 was not a kind one for the Toronto Stock Exchange. The 300 composite index lost nearly 1,000 points as it fell below the 11,000-point mark on Sept. 8. Despite the poor per…
Wolfden acquires High Lake deposit
A recent agreement with Aber Diamond (ABZ-T) allows Wolfden Resources (WOLF-C) to boost its stake in the High Lake base metal deposit, 45 km south of Coronation Gulf, Nunavut.Once this acquisition and…
Cominco flashes green light for Pend Oreille
With the Sullivan and Polaris mines scheduled to close in the next two years, Cominco (CLT-T) will spend US$70 million to reopen the past-producing Pend Oreille zinc-lead mine near Metaline Falls in n…
MAC plans to reduce emissions
The Mining Association of Canada (MAC) recently told federal, provincial and territorial mines ministers that it is stepping up efforts to improve energy efficiency and reduce greenhouse gas emissions…
GREATEST VALUE TRADED, Sept. 6-12
ExchgVal($000s)HighLowCloseChangeAlcoa*N 360517 34.12 30.00 30.19 – 3.62…
Metal Prices (September 18, 2000)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateSept. 12Sept. 11Sept. 8Sept.
Darryl Lake to address Toronto CIM meeting
If you think drilling core from a comet travelling in space sounds like science fiction, you’re probably not alone. But Darryl Lake, chief executive officer of the Northern Centre for Advanced Technol…
CDNX loses momentum owing to technology sell-off
Canada’s junior exchange finished the trading week ended Sept. 12 flat, with losses in the technology index offset by gains in the mining and oil and gas sectors. This is a reversal of the trend at th…
LME Warehouse Levels (September 18, 2000)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Sept. 12/99 (change from Sept. 5 in brackets):MetalStock(tonnes)Change…
Summo receives positive study for Lisbon Valley
With a bankable feasibility study in hand, Summo Minerals (SMA-T) plans to raise US$57 million to build a mine at its Lisbon Valley copper project in southeastern Utah.The property is fully permitted …