Metal Prices (June 11, 2001)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateJune 5June 4June 1May 31May 30Aluminium1494/1511.50…
News
LaRonde to produce more gold
Having outlined more reserves, Agnico-Eagle Mines (AGE-T) intends to increase daily production to 7,000 tons at the LaRonde gold-copper mine, near Val d’Or, Que.Since it expanded the milling rate to 5…
Gold Funds (June 11, 2001)
Gold Funds as of May 31, 2001Dundee Precious MetalsCentral FundNet Value$13.52$5.29Price$9.50$5.05…
Kennecott slashes copper output
Denver — Kennecott Utah Copper, a subsidiary of Rio Tinto (RTP-N), has suspended operations at the North concentrator and cut 235 workers in an effort to reduce costs.Operations, including rail haula…
Delays at Bounty mine hamper Viceroy
Vancouver — A low gold price combined with high operating costs resulted in another quarterly loss for Viceroy Resource (VOY-T) during the three months ended March 31.The company posted a net loss of…
Rockwell drops Pedra Branca
Denver — Rockwell Ventures (RCW-V) has dropped the Pedra Branca platinum-palladium project in northeastern Brazil after drilling failed to return satisfactory results.Rockwell was earning a 60% inter…
Sultan explores Kena gold project GQ
Vancouver-based Sultan Minerals (SUL-V) has launched an exploration program at the Kena gold property, near Nelson in southeastern British Columbia. Work is focused on the Gold Mountain zone discovery…
Lonmin freezes plans to boost stake in Ashanti
Denver — British-based platinum producer Lonmin says it has no plans to increase its stake in Ashanti Goldfields (ASL-N), despite reports that the government of Ghana may be willing to sell some of i…
Thunderbox gets green light
An independent study envisages an open-pit operation employing conventional processing techniques at the Thunderbox gold project in Western Australia. Accordingly, LionOre Mining (LIM-T) and Dalrymple…
Homestake buys Aussie project from Rio Tinto
Denver — In return for US$27.6 million, Homestake Mining (HM-N) will acquire the Cowal project in New South Wales, Australia, from North Gold (WA), a wholly owned subsidiary of Rio Tinto (RTP-N).Acco…
Cassiar settles insurance claim
An investment group holding 49.62% of Cassiar Magnesium (CIR-T) says its decision to terminate senior management, including former chairman Clifford Frame, was done “in the best interest of all shareh…
Atna Res alters strategy
Vancouver — Atna Resources (ANT-T) has received low-grade results from a 3-hole drill program targeting the past-producing Lone Pine base metal mine, near Mayer, Ariz., and, as a result, is shifting …