DRC starts drilling at Afton
Vancouver — DRC Resources (DRC-V) has begun a drill program at the Afton mine property, near Kamloops, B.C.Initially, the drilling will try to extend the Afton Main zone toward the surface. The Main …
News
DRC settles with Banro
Banro (YBE-V) has acquired a 100% interest in four gold deposits in the Democratic Republic of Congo. Under the agreement, the DRC government retains 100% of the tin assets.The properties, known as Tw…
Exploration spending continues slide
A survey of mineral exploration, deposit appraisal and mine development spending predicts that exploration and appraisal spending for 2001 will dip to a historical low of $458 million, a far cry from …
Ashton finds kimberlite in Coronation Gulf
Ashton Mining of Canada (ACA-T) has found a new kimberlite exposed in outcrop on the Kim property in the north Slave region of Nunavut.The newly dubbed Thrift kimberlite was found in outcrop and float…
SW Res. sells Poracota
Southwestern Resources (SWG-T) has inked a deal to sell its half-stake in the Poracota gold property in Peru to Compania de Minas Buenaventura for $7.1 million over three years.Teck Cominco (TEK-T) ow…
Gold Funds (April 29, 2002)
Gold Funds as at April 18, 2002Dundee Precious MetalsCentral FundNet Value$21.05$5.72Price$15.40$6.10…
Barrick, Altius team up
Partners Barrick Gold (ABX-T) and Altius Minerals (ALS-V) have agreed to expand their search for Carlin-type deposits in Newfoundland’s Botwood Basin.Their efforts will focus on the 47-sq.-km Burnt La…
Eldorado restates earnings (April 29, 2002)
Vancouver — The discovery that a 1994 US$10-million convertible debenture should have been treated as a debt instrument has forced Eldorado Gold (ELD-T) to restate its financial statements for 2000 a…
Wolfden drills High Lake property
Wolfden Resources (YWO-V) will launch a $2-million program of diamond drilling and airborne geophysics at its High Lake volcanogenic massive sulphide property in Nunavut’s Bathurst Inlet.The first of …
Golds advance in slumping TSE
The Toronto Stock Exchange started the trading period April 17-23 strongly but lost ground steadily after the weekend. The TSE 300 composite index fell 123.73 points to 7,717.84, finishing 1.6% behind…
Lending Rates (April 29, 2002)
as of 4 pm ET, Apr. 23, 2002(%)Bank of Canada2.50Canadian Prime4.00U.S. Discount1.25U.S. Prime4.75LIBOR US$ 3-month1.94LIBOR US$ 6-month2.15LIBOR US$ 1-year2.71Gold lease 3-month0.39Gold leas…
Spot Prices Wed. April 24, 2002
Precious MetalsPrice (US$/oz.)ChangeGold$304.50+$4.35Silver$ 4.48+$0.13Platinum$553.00+$…