Falco earnings rise, taxes fall
Falconbridge (FL-T) saw its second-quarter earnings jump 45% to $56 million, reflecting higher nickel prices and a one-time $12-million tax recovery relating to changes in federal resource-sector taxa…
2003
Harmony ties knot with African Rainbow
South Africa’s Competition Commission has approved the proposed merger of Harmony Gold (HMY-N) and black empowerment company African Rainbow Minerals Gold.The decision paves the way for the creation o…
Low-cost El Peon drives Meridian
Second-quarter earnings at Meridian Gold (MNG-T) were somewhat lower than in 2002, but low costs at the El Penon mine kept the company well in the black. For the three months ended June 30, Meridian e…
Coeur advances Kensington
The best news of the period for U.S.-based miners was Coeur d’Alene Mines’s signing of a memorandum of understanding with Alaska and U.S. agencies to grant environmental permits for the company’s prom…
Junior exchange stages mid-summer rally
Vancouver — Canada’s junior exchange sprinted to yet another new yearly high during the week ended July 29. The S&P-TSX Venture Exchange composite index jumped 61.45 points, or 5.4%, and closed at 1,…
People (August 04, 2003)
Barker Minerals — Sean McKinley appointed exploration manager.Diamondex — Christopher Mitchell appointed CFO.First Point Minerals — Christopher Mitchell appointed CFO and secretary.
Northern Miner Indices (August 04, 2003)
Barrick GoldABX-T19.4%CamecoCCO-T3.6%FalconbridgeFL-T4.7%Freeport McM BFCX-N7.1%GoldcorpG-T4.4%IncoN-T7.8%Kinross GoldK-T4.3%Newmont MiningNEM-N24.1%NorandaNRD-T4.6%Phelps DodgePD-N…
Spot Prices Wednesday July 30, 2003 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$359.10+6.90Silver$5.10+0.27Platinum$693.00+3.00P…
Losses for Phelps Dodge
Vancouver — For the ninth-consecutive quarter, Phelps Dodge (PD-N) has failed to make a profit.The world’s second-largest copper producer incurred a net loss of US$15.2 million (or US21 per share) i…
South Africa produces less gold (August 04, 2003)
South African gold production in the first quarter of 2003, at 2,963,824.9 oz. was down 2.7% compared with the corresponding period of 2002. Moreover, production was down 6.8% from the quarter ended D…
Cambior pulls gold at Westwood
Drilling by Cambior (CBJ-T) at its Westwood property in northwestern Quebec has intersected gold mineralization at depth that appears to correlate with known zones at the Doyon gold mine, 2 km to the …
Daily Metal Prices (August 04, 2003)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateJuly 29July 28July 25July 24July 23Al Alloy1370/138…