Barrick-Homestake merger shakes gold market
Spicing up an otherwise bland week, Barrick Gold, on June 25, announced its intention to purchase American rival Homestake Mining in a paper deal worth US$2.3 billion.The all-share, friendly offer cau…
News
Victoria Island search resumes
Diamond-explorer Major General Resources (MGJ-V) has begun ground geophysical surveys of 20 airborne magnetic anomalies on Victoria Island in Nunavut, in preparation for drilling.The anomalies were de…
Union workers halt zinc smelter in Peru (July 02, 2001)
Denver — Production of refined zinc at the Cajamarquilla smelter near Lima, Peru, has ceased after 350 unionized workers walked off the job.The union and Cominco (CLT-T), which owns 82% of the plant,…
CanTung mine set to reopen doors
Vancouver — Armed with $6.5 million in financing, North American Tungsten (NTC-C) plans to restart its wholly owned CanTung mine, in the Northwest Territories, by year-end.The company recently entere…
RJK posts gains during mixed week
WESTERN MARKETThe Canadian Venture Exchange finished the period ended June 26 down 44.97 points at 3,230.93, off 1.4%. The mining index went the other way, gaining 68.31 points, or 0.9%, to close at 7…
Barrick, Homestake propose marriage
In a paper deal worth US$2.3 billion, Barrick Gold () has agreed to take over Homestake Mining (HM-N) and thereby become the world’s second-largest gold producer.Barrick is offering 0.53 of a share fo…
Aurora cuts kimberlite at Belleterre
Aurora Platinum (ARP-V) has discovered a kimberlite body on the Midrim-Belleterre nickel/copper/-platinum-group-metal project in western Quebec. The junior made the discovery while drill-testing a cir…
News – 02-JUL-01 (July 02, 2001)
Merger trends
It was said of Benjamin Disraeli that he spent more time arriving at Westminster than he spent in it. Consolidation in the gold industry is arriving, still. It has to be said: if Barrick’s taking over…
Colorado evaluates land tracts
The Colorado Geological Survey (CGS) has released two reports which evaluate the resource potential of more than 4 million acres administered by the State Land Board.The land is in Kiowa and Cheyenne …
LME Warehouse Levels (July 02, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, June 26/01 (change from June 19 in brackets):Aluminium625100(+9375)Aluminium Alloy86740(+900)Copper434450(+9275)Lead…
Partners turn up low grades in Kirkland Lake
Five holes drilled in the South Break and 180 Splay structures in Lebel and Gauthier twps., near Kirkland Lake, Ont., have intersected long intervals of low-grade gold mineralization.Partners Queensto…