Cumberland eyes $25m
Cumberland Resources (CBD-T) plans to raise up to $25 million by selling 7 million units and 1 million flow-through shares, with proceeds earmarked for the Meadowbank gold project in Nunavut.Under a b…
News
South African mines among most dangerous
Nineteen people died in South African mine accidents in June, two others were disabled, and 334 more were injured, according to the Department of Minerals and Energy.The June figures compare with 21 d…
Kirkland Lake restarts Macassa mill
Ending a 4-month production hiatus, Kirkland Lake Gold (KGI-T) has resumed milling operations at the Macassa mine in northern Ontario.In early March, Kirkland Lake Gold was forced to suspend operation…
Aussie gov’t orders shorter work week
Workplace Standards, an Australian government body designed to protect workers, has ordered a Tasmanian mine contractor to cut back on its work week at the Mt. Lyell copper mine on Tasmania’s west coa…
AMC, Ford nix Stanwell deal
Australian Magnesium Corp. (AMC) and U.S. car giant Ford Motor Co. have scrapped a A$2-billion magnesium supply agreement.The agreement called for AMC to supply Ford with half the output from the part…
Expatriate eyes Wolverine-Logan combo
Vancouver — In 2001 Expatriate Resources (exr-v) halted a 2-year effort to develop Teck Cominco’s (TEK-T) Kudz Ze Kayah deposit in the Yukon in combination with its 60%-owned Wolverine base metal fin…
Barrick trims costs at Bulyanhulu
Barrick Gold (ABX-T) is shuffling management at its Bulyanhulu gold mine in Tanzania in an attempt to cut costs and improve performance.Ren Marion, previously the company’s head of business evaluatio…
Spot Prices Wednesday July 16, 2003 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$343.00-2.45Silver$4.67-0.07Platinum$685.00+20.00…
Producer and Dealer Prices (July 21, 2003)
Antimony: Mid-mkt US$2,380/t.Bismuth: Mid-mkt US$2.90/lb.Cadmium: Mid-mkt US$0.70/lb.Cobalt: Recent trades US$10.15-11.00/lb.Copper: Comex Sept. US$0.794/lb.Indium: Indium Corp., ingot, US$140/kg.Irid…
Canadian Stock Exchange Indices (July 21, 2003)
DateJuly 15July 14July 11July 10July 9HighLowTSX Composite7116.087115.987077.567071.54…
Convict admits to bombing Giant mine
Roger Warren, the man convicted of murder after an explosion at the Giant gold mine in Yellowknife, N.W.T., killed nine people in 1992, has admitted he acted alone and did not intend to kill anyone.Wa…
Rubicon drills in Red Lake
Junior Rubicon Minerals (RMX-V) has renewed drilling at the Rivard property in Ontario’s Red Lake camp.The 7,500-ft. program follows a first phase, completed earlier this year, which produced a best r…