Novicourt takes a loss in second quarter
Noranda’s (NRD-T) 62.1%-owned base metal subsidiary, Novicourt (NOV-T), continues to suffer the ills of low copper and zinc prices.The company posted a second-quarter loss of $130,000 (or nil per shar…
2002
Bullmoose slashes workforce
Vancouver — The Bullmoose coal mine in northeastern British Columbia is reducing its workforce as the deposit nears depletion.Forty-three employees were recently laid off, reducing the total workforc…
Mountain Province soars on release of diamond counts
Spooked by more dreary economic figures down south, sellers outpaced buyers here at home to leave the broad market 201.79 points behind. The Toronto Stock Exchange Composite Index finished the holiday…
Akrokeri-Ashanti in the red
Delays in getting the new Knelson concentrators and cyclone recovery equipment online contributed to a quarterly loss for Akrokeri-Ashanti Gold Mines (YAG-V).During the three months ended June 30, the…
Western markets remain sluggish
Vancouver — Canada’s junior bourse edged up slightly over the holiday-shortened trading week ended Sept 3. The TSX Venture Exchange composite index added 0.73 of a point, or 0.07% of its value, to cl…
Crystallex production falls in South America
Vancouver — Lower gold grades from its Venezuela operations hurt the bottom line of Crystallex International (KRY-T) in the second quarter of 2002.The junior posted a loss of $3.2 million (or 4 per …
Mongolia makes pitch to investors
Mongolia has introduced measures aimed at encouraging development of its mineral resources.The government will double its existing budget for geologically mapping the entire country at a scale of 1:20…
Ontario geologists catch last bus
Additional registration applications in August have brought to 679 the number of Ontario geoscientists registered or applying for membership in the Association of Professional Geoscientists of Ontario…
Bema options Salvadoran project
Vancouver — Bema Gold (BGO-T) has an option to earn up to a 75% interest in the high-grade Divisadero gold-silver property in El Salvador. The ground is held by Intrepid Minerals (IAU-V).Initially, B…
Claude, Placer strike gold in Red Lake
Echoing the exploration success of their rival, Goldcorp (G-T), partners Placer Dome (PDG-T) and Claude Resources (CRJ-T) have discovered a high-grade gold system in the Red Lake camp of northw…
Dummett killed in road accident
Geologist Hugo T. Dummett, whose knowledge of diamond exploration made BHP Billiton (BHP-N) a major force in world diamond mining, has died. He was 62.Dummett was killed in a single-car accident on a …
Expats gunned down near Grasberg
An ambush along a road near Freeport-McMoRan Copper & Gold’s (FCX-N) Grasberg mine in Indonesia’s Papua province has left three dead.A band of about 15 people armed with M-16 automatic weapons and a r…