Lakota, Gold Fields strike deal
South African mining house Gold Fields (GFI-N) has taken an option on the land package recently consolidated by Lakota Resources (YLA-V) in the Lake Victoria gold district of Tanzania.Under the terms …
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AngloGold eyes top spot with Ashanti takeover
Looking to regain top spot among global gold producers, South Africa’s AngloGold (AU-N) has entered talks aimed at achieving a merger with Ghana-based Ashanti Goldfields (ASL-N).The talks are centred …
North American Palladium coasts on stronger loony
The weaker U.S. dollar has enabled North American Palladium (PDL-T) to overcome substantial increases in operating expenses and income taxes.Net earnings topped $8.4 million (or 17 per share) on $41….
LME Warehouse Levels (May 26, 2003)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 20 (change from May 13 in brackets):MetalStock(tonnes)ChangeAluminium1153125(-170…
Daily Metal Prices (May 26, 2003)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateMay 20May 19May 16May 15May 14Al Alloy1385/1380…
BC promotes mineral investment
The government of British Columbia will spend $1.2 million over two years to fund a geoscience program designed to stimulate mineral exploration.The Rocks to Riches program will be managed by the Brit…
Fortune drilling cuts high gold grades (May 26, 2003)
Infill drilling by Fortune Minerals (FT-T) on the Nico polymetallic deposit, 160 km northwest of Yellowknife, N.W.T., has intersected high gold grades.Fortune, which has a 35-hole program under way to…
Iamgold earnings bolstered by acquisitions
First-quarter earnings at Iamgold (IMG-T) rose year-over-year in 2003, partly as a result of higher gold prices and partly because production from the Tarkwa and Damang mines in Ghana is now part of I…
American Bonanza eyes Arizona’s high-grade potential
Having completed a $4-million equity financing at the first of the year, which saw Goldcorp (G-T) acquire a 10% stake in the company, American Bonanza Gold Mining (BZA-V) is in the midst of an undergr…
Northern Empire and Stornoway will tie knot
In the wake BHP Billiton’s (BHP-N) decision to buy a minority stake in the Melville Peninsula diamond play in Nunavut, Northern Empire Minerals (NEM-V) and Stornoway Ventures (SWV-V) have agree…
New gold trusts launched
With gold prices on the rise, several gold-bullion investment vehicles are sprouting up in Canada, the U.S. and Australia.In Canada, the managers behind North America’s only publicly traded bullion fu…
McWatters raises more cash (May 26, 2003)
The underwriters of a public equity offering have exercised an over-allotment option, netting McWatters Mining (MWA-T) another $639,200 in proceeds.In early April, McWatters issued 136.2 million treas…