Market moves with gold
Vancouver — Canada’s junior exchange made a big comeback over the week ended Feb. 10, as gold stocks started making positive gains. The S&P/TSX Venture Exchange composite index closed at 1866.18, up …
News
Strong rand clips AngloGold’s profits
Most export-oriented South African gold companies saw their 2003 earnings hampered by a strong rand, and AngloGold (AU-N) was no exception.Higher currencies in most other operating regions also affect…
The outlook for precious, base metals
Profit-taking is undermining the precious metals markets and, from a technical point of view, we expect gold, silver and platinum to remain subdued over the coming months. In a reversal of last year’s…
Throne speech good harbinger
The Mining Association of Canada (MAC) sees good signs in Ottawa’s recent throne speech.MAC President Gordon Peeling says it is the first throne speech in a long time that clearly recognizes the value…
It’s all in the US dollar: Scotia Capital
A forecast for a continued decline in the greenback, outlined in the research booklet Focus 2004: Outperformers and Underperformers for 2004, underpins much of Scotia Capital’s predictions for the glo…
Sunridge explores in Eritrea (February 16, 2004)
Two drills are testing the Debarwa copper-gold deposit in Eritrea. The near-surface, volcanogenic massive sulphide deposit is part of the 1,400-sq.-km Asmara project held by partners Sunridge Gold (SG…
Gold-Ore eyes targets at Yuscaran
Vancouver — Gold-Ore Resources (GOZ-T) is preparing to drill its Yuscaran gold-silver project in eastern Honduras.The company can acquire the property from Breakwater Resources (BWR-T) by spending US…
Newmont expands reserves at drill bit
The larger the gold company, the tougher the challenge of replacing mined ounces and expanding overall reserves and resources. A few years ago, Newmont Mining (NEM-N) had only about 9 million oz. of r…
Pan American to buy Morococha silver mine
A binding agreement sets the stage for Pan American Silver (PAA-T) to buy the Morococha silver mine, 150 km northeast of Lima, Peru.The proposed acquisition reflects Pan American’s goal of becoming th…
ATAC eyes Chinese prospects
Vancouver-based ATAC Resources (ATC-V) plans to scour China for mineral deposits, focusing on regions where the geology and metallogeny resemble those of the northern Cordillera.The joint-venture expl…
CZN buys into Prairie Creek
An agreement with Titan Logix (TLA-V) has allowed Canadian Zinc (CZN-T) to buy Titan’s 2% net smelter return royalty interest in the Prairie Creek mine property in the Northwest Territories.Prairie Cr…
LME Warehouse Levels (February 16, 2004)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Feb. 10 (change from Feb. 3 in brackets):MetalStock(tonnes)ChangeAluminium1421625(-20…