SAGC to resurrect Pimenton mine
Hoping to return to the ranks of producers, South American Gold & Copper (SAG-T) will attempt to raise US$3.75 million to resume production at its Pimenton gold-copper mine in central Chile.Situated 1…
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Miramar hits more gold at Hope Bay (October 21, 2002)
Vancouver — A $3.4-million summer work program by Miramar Mining (MAE-T) uncovered a new zone of mineralization at the Hope Bay gold project in Nunavut.Crews discovered the Marianas zone while drill-…
Spot Prices Wed. October 16, 2002 (October 21, 2002)
Precious MetalsPrice (US$/oz.)ChangeGold$314.00-$4.80Silver$ 4.32-$0.04Platinum$589.00+$…
BHP Billiton bearish at Escondida as copper demand stays weak
Vancouver — Despite evidence of a weakening global economy dragging down demand for copper, diversified miner BHP Billiton (BHP-N) does not envisage further production cuts beyond 2002.”Today, we thi…
New tents pitched in Red Lake camp
Aquiline Resources (AQI-V) has entered into an option agreement to acquire a 60% stake in Global Consolidated Minerals’ Dome project, in the Red Lake mining camp in northern Ontario.To acquire its int…
Summer work in NWT yields new crop of kimberlites
More than a decade after diamonds were first found in Canada’s Far North, new discoveries of kimberlite continue to be reported in the Northwest Territories and Nunavut.An autumn drilling program on t…
Boliden files suit against Spanish construction firm
Boliden’s Spanish subsidiary has filed a US$100-million lawsuit against Dragados y Construccines, a construction company, in connection with the failure of the tailings dam at Boliden’s Los Frailes m…
MOST ACTIVE ISSUES, OCTOBER 9-15
ExchgVol(000s)HighLowCloseChangeAlcoa*N2325421.8117.6221.65+3.14…
Election turmoil comes at bad time for Brazil Reading Lula da Silva
Financial markets in Brazil were jittery after the first round of presidential elections gave Workers’ Party candidate Luiz Inacio Lula da Silva 46% of the vote, double that of his nearest rival, Jorg…
Nevada pins hopes on higher gold price
For the first time in several years, there’s some cautious optimism in Nevada’s precious metals industry.Even though gold prices averaged US$271 per oz. in 2001, versus US$279 in the two previous year…
Thistle boosts Steyn
Thistle Mining (THT-T) reports an 18% increase in reserves at its President Steyn gold mining complex in South Africa’s Free State.Total Reserves at the Steyn 1 shaft have grown to nearly 3.1 million …
Placer prevails as AurionGold caves in (October 21, 2002)
Vancouver — After five long months, Placer Dome (PDG-T) has finally won over AurionGold’s management team in its $1.2-billion takeover offer.The Australian miner reversed its rejection of the takeove…