Regulators OK equity financing
Having received regulatory approval, First Quantum Minerals (FM-T) is proceeding with an equity financing of 4.6-7.6 million treasury shares.The shares, priced at $4.05 apiece, are being offered in On…
News
Resource sector drives CDNX
The Canadian Venture Exchange composite index tacked on 32.13 points, or 0.9%, to close the week ended June 5 at 3322.54. The mining index added 83.83 points, 1.2%, to its value and finished at 7228.1…
The Northern Miner — North American Mining Index (June 11, 2001)
78.86 (-1.56)(Sept. 30/98 = 100)…
The Northern Miner — Small Producers Index (June 11, 2001)
58.13 (+1.27)(Sept. 30/98 = 100)…
Grib pipe eludes Archangel
Denver — Last-minute manoeuvres by Russia’s Arkhangel’skgeoldobycha (AGD) threaten to derail resolution of a longstanding dispute with Canada’s Archangel Diamond (AAD-V) concerning the Grib kimberlit…
Placer squeezes more gold out of Pipeline
Denver — The start of mining at the South Pipeline deposit and an ore-sales agreement with the Jerritt Canyon operation are expected to contribute to a 17% increase in gold output at the Pipeline com…
Northern Miner Indices (June 11, 2001)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)Barrick GoldABX-T19.3ComincoCLT-T5.1FalconbridgeFL-T6.7Franco-Nevada MiningFN-T6.3Freeport McMoRan Cop’r BFCX-N6.7Homestake MiningHM-N4….
Resource stocks mixed as broad market coasts
The Toronto Stock Exchange slipped a mild 6.81 points over the May 30-June 5 report period to end the week at 8,258.82.The yellow metal sank US$6.70 to land at a London fix of US$266.95 per oz. on the…
Stillwater enjoys record year at mine
With a new chairman and chief executive officer at the helm, Stillwater Mining (SWG-A) is forging ahead with an ambitious expansion program at its namesake mine and East Boulder project in the Beartoo…
Golden Phoenix plans to resuscitate Mineral Ridge
Denver — Golden Phoenix Minerals (GPXM-O) intends to resume production at the Mineral Ridge mine in southwestern Nevada. To do so, the Reno-based company will try to secure US$2 million in financing …
Soledad Mtn written down
Denver — Low gold prices have forced Golden Queen Mining (GQM-T) to write down the value of the Soledad Mountain project in southern California. The company posted a net loss of US$28.9 million for 2…
GQ surrenders more macros (June 11, 2001)
Band-Ore Resources (BAN-T) reports additional encouraging results from its GQ property, 20 km north of Wawa, Ont.Three 24-kg samples of bedrock were collected from the area of the recently expanded Ar…