Consumer buying augurs well for metals
Metals prices continued to move in lock step with equity market indices for the time being. This is not the usual picture in the early stages of an economic upturn. Weak equity markets have not hamper…
News
Namco hits a sweet spot (August 05, 2002)
Marine diamond miner Namibian Minerals (NMR-T) has set a 1-day production record, hauling up an astonishing 16,417 carats from 1.9 sq. km of Feature 22.The parcel, which includes 54,240 stones, was re…
Sherritt enjoys coal-fired quarter
Higher realized nickel prices helped Sherritt International (S-T) to improved second-quarter net earnings of $24.6 million.The profit, which translates into 15 per diluted share, is a marked improvem…
AngloGold trims hedge
Eyeing a strengthening gold price, AngloGold (AU-N) trimmed its hedge book by another 2.4 million oz., to 10.5 million oz., during the second quarter.The move, which followed a 1.7-million-oz. reducti…
Penasquito continuity confirmed (August 05, 2002)
Vancouver — The latest assay results from a recently completed 6,900-metre drill program on the Penasquito base metal property in Mexico have prompted Western Copper Holdings (WTC-T) to drill an addi…
Starfield bullish at Ferguson Lake
Vancouver — Starfield Resources (SRU-V) reports encouraging results from stepout and infill drilling at its Ferguson Lake nickel/copper/ cobalt/platinum-group-metal project in Nunavut.A stepout hole …
Freewest finds
Surface drift prospecting by Freewest Resources Canada (FWR-V) has turned up angular boulders with high gold grades at the Smoke Lake property in the Hemlo area of north-central Ontario.Smoke Lake, a …
PEOPLE (August 05, 2002)
Alcoa — Russell Porter appointed VP and deputy general counsel.Anglo American — Mark Moody-Stuart appointed chairman.Apollo Gold — G.W. Thompson appointed non-executive chairman of the…
LionOre extends Waterloo (August 05, 2002)
Drilling by LionOre Mining International (LIM-T) on the Wildara property in Western Australia has extended the strike length of the Waterloo nickel-platinum-group-metals deposit by 250-750 metres.The …
Almaden spins drills at Elk project
Vancouver — Aiming to expand the known resource of the Siwash North and WD vein systems, junior Almaden Minerals (AMM-T) has launched a $350,000 drill program at its wholly owned Elk gold property in…
Northern Miner Indices (August 05, 2002)
NORTH AMERICAN MINING INDEXCompanyTickerWeightBarrickABX-T23.2%CamecoCCO-T3.2%FalconbridgeFL-T5.2%Freeport BFCX.B-N5.8%GoldcorpG-T4.2%IncoN-T9.2%Meridian GoldMNG-T2.8%Newmont MiningNE…
LME Warehouse Levels (August 05, 2002)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, July 30 (change from July 23 in brackets):MetalStock (tonnes)ChangeAluminium1267425(+…