LME Warehouse Levels (April 30, 2007)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, April 23, 2007 (change from April 16 in brackets):
News
Barrick backs off hostile bid for NovaGold
The trading week ended April 20 closed with the partial resolution of a long-standing conflict in the North American gold industry.
Barrick offloads entire stake in NovaGold (April 30, 2007)
Vancouver — Making good on the planned sale of its 14.8% stake in NovaGold Resources (NG-T, NG-X), Barrick Gold (ABX-T, ABX-N) has divested its 13.6-million share position in the company, which it ta…
Marathon options Gossan’s Bird River (April 30, 2007)
Marathon PGM (MAR-T, MRPGF-O) has struck an option agreement to acquire up to a 70% interest in Gossan Resources’ (GSS-V, GSSRF-O) Bird River platinum group metals (PGM) project in southeastern Manito…
Teck Cominco posts $360M Q1 profit
Vancouver — Teck Cominco (TCK.B-T, TCK-N) posted 2007 first-quarter earnings of $360 million ($1.67 per share) on operational revenue of $1.34 billion, compared with $448 million ($2.19 per share) on…
Producer and Dealer Prices (April 30, 2007)
Antimony : Mid-mkt US$5,440/t.
TSX Short Positions (April 30, 2007)
Short positions outstanding at April 15/07 (with changes from Mar. 31).
Commerce green plan good for prefeasibility
Commerce Resources (CCE-V, CMRZF-O) shares jumped 55% recently on news that the company is taking action to get environmental approval for its Upper Fir tantalum-niobium project near Blue River, B.C.
Nickel frenzy continues with Sherritt takeover of Dynatec
As nickel prices surge to new levels, Sherritt International (S-T, SHERF-O) has agreed to buy Dynatec (DY-T, DYTCF-O), 40% owner of the massive Ambatovy nickel project in Madagascar, for $1.6 billion.
Continental Precious Minerals locks up Swedish uranium
Continental Precious Minerals (CZQ-T, CTPMF-O) is taking a two-pronged approach in developing its substantial Swedish uranium assets, focusing both on putting its shallow hard-rock deposits quickly in…
Newmont acquitted on Indonesian pollution charges (April 30, 2007)
Concluding a 21-month trial in an Indonesian court, Newmont Mining (NMC-T, NEM-N) and Richard Ness, the head executive at the company’s Indonesian subsidiary, have been acquitted of charges that a New…
Suppliers News (April 30, 2007)
Atlas-Faucet to rehab Hooper