Partners expand Legris Lake
A 1,000-metre drilling program by equal partners Avalon Ventures (AVL-V) and Starcore Resources (SOE-V) has extended the depth of platinum group element mineralization at the Legris Lake polymetallic …
News
Producer and Dealer Prices (October 29, 2001)
Antimony: Mid-mkt US$1,400/t.Bismuth: Mid-mkt US$3.60/lb.Cadmium: Mid-mkt US$0.27/lb.Chromium: Mid-mkt ores US$65.00/t.Cobalt: Recent trades US$7.40-8.40/lb.Copper: Comex Dec. US$0.63/lb.Indium: Indiu…
Akrokeri expects quarterly loss
Lower production from the Bonte alluvial gold mine in Ghana will cut third-quarter revenue and earnings for Akrokeri-Ashanti Gold Mines (YAG-V), and the company is warning that year-end production, re…
Normandy arranges funds
Normandy Mining’s (NDY-T) 62%-owned subsidiary, Australian Magnesium Corp. (AMC), has arranged a considerable portion of the $525 million needed to develop the proposed 90,000-tonne-per-year Stanwell …
Monetary vs. fiscal policy
A three-quarter-point cut in the Bank of Canada’s overnight-rate target, while it came as no surprise to the capital markets, was a drastic measure. To those used to quarter-point adjustments, such a …
Lower profits force Alcan to cut jobs
Alcan will lay off 5-7% of its 52,000 workers worldwide, including some staff at its head office in Montreal.The announcement follows a disappointing third quarter, in which the aluminum giant earned …
Noranda keeps gobbling up Falco shares
Recent insider trading transactions reported by the Ontario Securities Commission in its OSC Bulletin include the following:Agnico-Eagle Mines (AGE-T) — FMR Corp., which must report its trading activ…
Gold Fields, Repadre to acquire Ghanaian gold mine (October 29, 2001)
South African gold producer Gold Fields (GOLD-Q) and Toronto-based Repadre Capital (RPD-T) have reached a memorandum of understanding with Perth-based Ranger Minerals for the purchase of Ranger’s 90% …
Ontario leads trade mission to Mexico
The Ontario government has joined the province’s mining equipment industry to push for a bigger share of Mexico’s $1.6-billion mining machinery market.The Trade Team Ontario Mission, as it is called, …
Aussies improve open-pit shovels
The Co-operative Research Centre for Mining Technology and Equipment (CMTE) in Brisbane, Australia, has commissioned a study to determine ways to increase the productivity of shovels used in open-pit …
Agnico-Eagle, Mentor merge
Agnico-Eagle Mines (AGE-T) has combined with Toronto-based Mentor Exploration & Development (MV-V) and will retain its original name.Agnico-Eagle acquired the remaining 50.5% of Mentor it did not alre…
Cameco, Pioneer beget uranium explorer
Cameco (CCO-T) and Pioneer Metals (PSM-T) plan to create a public company named UEX, which will explore for uranium in the Athabasca Basin of Saskatchewan.The proposed deal calls for Pioneer sharehold…