JP Morgan dispels rumours
The gold bugs watched in glee as their arch nemesis, JP Morgan, the counterparty to most gold-derivatives trading, issued a statement that refuted rumours it had recently lost upwards of US$17 billlio…
News
LME Warehouse Levels (November 18, 2002)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Nov. 12 (change from Nov. 5 in brackets):MetalStock (tonnes)ChangeAluminium1285950(-1…
Patricia tables new resource at Island Gold
A revised resource estimate at the Island Gold property in the Goudreau-Lochalsh area, northeast of Wawa, Ont., indicates a large, low-grade gold deposit.Patricia Mining (PAT-V), which is operating th…
Renard 7, 8 prove diamondiferous
The two most recent Renard kimberlite finds in the Otish Mountains region of north-central Quebec are diamond-bearing.Joint-venture partners Ashton Mining of Canada (ACA-T) and Soquem have confirmed t…
Spot Prices Wed. November 13, 2002
Precious MetalsPrice (US$/oz.)ChangeGold$323.20+$5.70Silver$ 4.57+$0.07Platinum$591.50+$…
Northern Miner Indices (November 18, 2002)
NORTH AMERICAN MINING INDEXCompanyTickerWeightBarrickABX-T21.9%FalconbridgeFL-T4.2%Freeport BFCX.B-N5.0%GoldcorpG-T5.2%IncoN-T7.7%Meridian GoldMNG-T4.7%Newmont MiningNEM-N24.8%Noranda…
Producer and Dealer Prices (November 18, 2002)
Antimony: Mid-mkt US$2,850/t.Bismuth: Mid-mkt US$2.85/lb.Cadmium: Mid-mkt US$0.38/lb.Chromium: Mid-mkt ores US$65.00/t.Cobalt: Recent trades US$6.20-7.00/lb.Copper: Comex Dec US$0.721/lb.Indium: Indiu…
Aluminum orders remain flat
The latest statistics from the U.S. Aluminum Association show that the total net new order index for domestic aluminum mill products was flat in October at 83.91, compared with 83.63 in the previous m…
Damang gives Repadre earnings boost
With a share in production from the Damang gold mine in Ghana now part of its portfolio, Repadre Capital (RPD-T) has posted earnings of $4.1 million (or 10 per share) on revenue of $5.9 million in th…
Great Basin looks to Africa
Seeking to become a mid-tier producer, Great Basin Gold (GBG-V) has broadened its exploration scope from the Carlin trend in Nevada to include the prolific Witwatersrand basin of South Africa.The Hunt…
Gold Fields posts solid quarter (November 18, 2002)
Vancouver — Despite witnessing a quarterly shortfall, South Africa’s second-largest gold miner saw year-over-year profits more than triple in the third quarter.Gold Fields (GFI-N) posted a profit of …
AngloGold reaches out to retail crowd
South African major AngloGold (AU-N) has provided details on its plans for a share split, while unveiling an offer to buy odd lots of shares.AngloGold regards the price of its shares as “very high” re…