Exchange Rates (March 09, 2009)
CANADIAN/U. S. EXCHANGE (Bank of Canada noon rate) Date Mar. 2 Feb. 27 Feb. 26 Feb. 25 Feb. 24 US$ in C$ 1.2890 1.2707 1.2456 1.2556 1.2470 C$ in US$ 0.7758 0.7870 0.8028 0.7694 0….
News
Lundin Loss Nears US$1B In 2008
VANCOUVER — Lundin Mining (LUN-T, LMC-N) lost almost US$1 billion in 2008 and now carries US$267 million in debt following the failure of a planned merger with HudBay Minerals (HBM-T, HBMFF-O), but t…
Lines Are Drawn In Battle For HudBay
VANCOUVER — After spending $460 million to acquire a nickel project that’s since been shelved and then attempting to take over Lundin Mining (LUN-T, LMC-N) in a deal that shareholders resoundingly re…
Richmont Sees Healthy Q4
While other junior miners continue to be undercut by economic uncertainty, Richmont Mines’ (RIC-T, RIC-X) fourth-quarter results show a company being rewarded for its shrewd moves.
Sherritt Plots Return To Low-Cost Glory Days
Sherritt International (S-T, SHERF-O) wants to get back to where it started — or at least where it was eight years ago.
Breakwater Struggles To Stay Afloat
Breakwater Resources (BWR-T, BWLRF-O) posted a net loss of $88.3 million or 20¢ per share in 2008 compared with net earnings of $23.4 million or 6¢ per share in 2007.
Kinross Takes Writedown, Boosts Gold Production
Score it another writedown for the big boys.
SRM And Palmiere Go Head To Head
The week leading up to the Prospectors and Developers Association of Canada, the eighth trading week of the year, continued to see fallout from HudBay Minerals’ failed takeover of Lundin Mining,
More Pain To Come In Exploration Sector: Fraser Institute Survey
— The following is an edited version of the executive summary and related press release for the Fraser Institute’s influential Survey of Mining Companies 2008/2009.
U. S. Stimulus Package To Fund Mine Reclamation
U. S. President Barack Obama’s nearly US$800-billion stimulus package includes US$125 million earmarked for the remediation of abandoned mines, according to the Northwest Mining Association.
NovaGold, HudBay Headline PDAC Award Winners
The Prospectors and Developers Association of Canada presented seven awards at a ceremony at the Fairmont Royal York Hotel during the association’s 77th annual convention in Toronto.
Canadian Gold Mutual Funds (March 09, 2009)
Featured Fund: BMO precious metals as of 12/31/08 (in weighted order): Kinross Gold, Allied Nevada Gold, Agnico-Eagle Mines, Goldcorp, Red Back Mining, San Gold, Quadra Mining, Franco-Nevada, Lihir Go…