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News July 12, 2004

Fed raises rates

The June 29-July 5 trading period was quiet, owing to the July 4th celebrations, which closed the markets on Monday, July 5. The Dow Jones industrial average dropped 74.26 points to 10,282.38 while the S&P 500 index slipped 7.97 points to 1,125.38…

News July 12, 2004

Canadian Stock Exchange Indices (July 12, 2004)

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News July 12, 2004

Juniors struggle as gold falls below US$400

The gold price moved below US$400 per oz. and toward the US$390-per-oz. level near the end of the holiday-shortened June 29-July 6 period, closing at US$394.50 in New York. The TSX Venture Exchange composite index closed down slightly, losing 11 p…

At the Star Diamond project last year: Looking north of the shaft collars, with the hoist base in the foreground and the shop and freeze-plant buildings in the background.

News July 12, 2004

Bulk samples show Star’s potential

Initial results from underground bulk sampling on the Star kimberlite in Saskatchewan’s Fort la Corne field indicate the recovery of coarse-size diamonds of up to 3.5 carats.

News July 12, 2004

Wheaton-Iamgold merger dies in vote

Shareholders of Iamgold (IMG-T) rejected a merger deal with Wheaton River Minerals (WRM-T) in a vote on July 6, possibly opening the way for takeover bids for the two companies by Golden Star Resource…

News July 12, 2004

Rio Narcea eyes Tasiast

With an increasingly hostile 4-way merger battle raging elsewhere, Rio Narcea Gold Mines (RNG-T) and Defiance Mining (DM-T) have tabled plans for a friendly share-swap deal valued at around $52.6 million.

Pelangio Mines President and CEO Ingrid Hibbard examines core at the Detour Lake camp in northeastern Ontario.

News July 12, 2004

Pelangio seeks to revive Detour Lake

Detour Lake, Ont. — Among junior resource companies, Pelangio Mines (PLG-V) is in the enviable position of having a substantial (521,965-oz.) measured and indicated gold resource on its property, site of the past-producing Deto…

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