Exchange Rates (November 04, 2002)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateOct. 29Oct. 28Oct. 25Oct. 24Oct. 23US$ in C$1.56311.56051.56…
News
Higher earnings for Richmont
Buoyed by higher gold prices, Richmont Mines (RIC-T) wrapped up its second straight profitable quarter at the end of September.Earnings approached $4.3 million (or 28 per share) on revenue of $17.3 m…
NEWS
Falco’s McLean to address geologistsScott McLean, a regional geologist with Falconbridge, will discuss his company’s exploration strategy at a meeting of the Toronto Geological Discussion Group, sched…
Siberian mines power High River Gold in 2002
Toronto-based High River Gold Mines (HRG-T) saw its revenues more than triple during the first half of the year as it began consolidating operating results from the Russian gold-mining company OJSC Bu…
Committee Bay eyes Nunavut gold belt
Vancouver — Finding financing for grassroots exploration projects is difficult at the best of times, and nearly impossible during an economic slow down. However, privately owned Committee Bay Resourc…
Resource stocks mixed as broad markets gain
The Toronto Stock Exchange Composite index coasted through the Oct. 23-29 report period, rising a mere 3.15 points to finish the week at 6,294.81.Gold was up US$3.75 in overseas markets, landing at a …
Critic should give examples
Two articles in the Financial Post on resource and reserve estimation in the mining industry (“Whistleblower raises doubts over orebodies” and “Consultant Jan Merks — a bit of a rebel,” Sept. 30/02) …
Stillwater less profitable in Q3
Palladium producer Stillwater Mining (SWC-N) has endured another disappointing quarter, pocketing less than US$5 million in the three months ended Sept. 30.The US11-per-share profit comes on revenue …
Daily Metal Prices (November 04, 2002)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateOct. 29Oct. 28Oct. 25Oct. 24Oct. 23Al Alloy1255/126…
Canada’s second diamond mine prepares for startup
With prestripping well under way following dewatering of the A-154 open pit, construction and commissioning of the Diavik diamond project in Canada’s barren north is on budget and ahead of schedule.Th…
Bulls battle bears to a draw
Vancouver — Canada’s junior exchange saw little change during the report period ended Oct. 29 as investors appeared unwilling to make any big bets ahead of crucial economic reports due later in the w…
Dynatec eyes producer status (November 04, 2002)
With demand for contract mining slumping, Dynatec (DY-T) saw its third-quarter profit fall to $20,000 (or nil per share) from year-earlier earnings of $2.7 million (2.4 per share). Revenue between th…