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…
News
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…
Hecla advances Don Sergio
Having drilled off a modest resource, Hecla Mining (HL-N) plans to develop a satellite operation at Cerro Pedernalillo, 6 km from its San Sebastian silver mine in Durango state, Mexico.The new develop…
New zone at Penasquito
Vancouver — Western Silver (WTC-T), formerly Western Copper, has discovered a new polymetallic zone on its wholly owned Penasquito property in Zacatecas state, Mexico.The zone, known as La Palma, is …
Northgate sees red in first quarter
Vancouver — Lower production resulting from a high stripping ratio at the Kemess mine in north-central British Columbia contributed to a first-quarter loss for Northgate Exploration (NGX-T).The compa…
Breakwater breaks even in Q1
Higher prices for gold, silver and copper helped offset lower production for Breakwater Resources (BWR-T) in the first quarter.The company earned $69,000 (or nil per share), compared with a loss of $3…