More consolidation expected in gold sector
John Ing of Maison Placements Canada has long made the case that gold is an effective hedge against both a lower U.S. dollar and a weaker economy. For most of the past six years, however, the U.S. eco…
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US Gold gains Mexican base metal property
Denver — After concentrating for years on the Tonkin Springs gold project in Nevada, U.S. Gold (USGL-O) is shifting its focus to a silver-lead-zinc property in Mexico.The company leased the 47-ha Zim…
Crown defaults on debentures (September 03, 2001)
Denver — Financially beleaguered Crown Resources (CRRS-O) says it will not be making its final, US$15.4-million payment, thereby defaulting on its 5.75% convertible subordinated debentures. The payme…
Namco hangs tough despite half-year loss
A disaster early in the year left Namibian Minerals (NMR-T) with US$25.1 million in losses on revenue of US$6.2 million for the half of 2001.Namibian’s loss, which translates into 40 per share, was b…
Hunt heats up in Quebec
Ashton Mining of Canada (ACA-T) is preparing to drill-test several targets this fall at its Otish Mountains joint-venture project in north-central Quebec.Ashton flew a geophysical survey over the Otis…
Falco plans suspension
The ongoing weakness in nickel markets, coupled with high oil prices, is forcing Falconbridge (FL-T) to suspend production at its 85%-owned nickel laterite mine in the Dominican Republic.The gates wil…
Rio Narcea slips back into red (September 03, 2001)
Unable to maintain the record-setting production rate attained in the first quarter, Rio Narcea Gold Mines (RNG-T) incurred a net loss of US$474,500 (or 0.07 per share) during the three months ended …
Lower grades hamper Claude’s performance
A dramatic drop in production at the Seabee gold mine in Saskatchewan pushed Claude Resources (CRJ-T) $1.2 million into the hole in the first half of 2001.The 3-per-share loss comes on revenue of $15…
Partners up stakes in Manantial Espejo
Junior Silver Standard (SSO-V) has acquired Barrick Gold’s (ABX-T) 20% interest in the Manantial Espejo silver-gold…
Newmont eyes round two at RDN
Vancouver — The results from an eight-hole drill program over Rimfire Minerals’ (RFM-V) RDN gold-silver property h…
Santa Rosa moves forward
Vancouver – Having been plagued with startup problems, Andean American Mining (AAG-V) has its pilot plant up and ru…
Antam smelter furnace repaired
At the ferronickel smelter at the Pomalaa nickel facility in southeastern Sulawesi, Indonesia, repairs to the coola…