Low prices frustrate Sunshine
Denver — The U.S. government has approved a newly amended plan of reorganization for Sunshine Mining & Refining (SSCF-O), though, with silver prices well below US$5 per oz., the company may have nowh…
News
Homestake posts record gold output
Denver — With gold production up, Homestake Mining (HM-N) has reported its lowest cash costs in more than two decades.Fourth-quarter production hit a record 589,100 oz. gold, up 9% from the correspon…
LME Warehouse Levels (February 19, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Feb. 13/01 (change from Feb. 6 in brackets):MetalStock (tonnes)ChangeAluminium452575(…
Base metals survive sinking composite index
The Toronto Stock Exchange performed dismally during the report period Feb. 7-13, with the TSE 300 composite index sliding 359.27 points in five trading days and finishing at 8,942.13. The banks and t…
Power sales drive Cominco (February 19, 2001)
Vancouver — Power sales to energy-strapped California have generated a financial windfall for Cominco (CLT-T). The company, now owned 50.1% by Teck (TEK-T), saw its profits double during 2000.The ste…
Wheaton River wins approval for Bellavista
Clearing its last major regulatory hurdle, Wheaton River Minerals (WRM-T) has received final environmental approval to build its Bellavista open-pit, heap-leach gold mine in Costa Rica.Situated 20 km …
Noranda profits grow
Stronger metal prices enabled Noranda (NOR-T) to overcome hefty unusual costs and to end 2000 substantially richer than it began.The major earned $293 million (or $1.14 per share) on sales revenue of …
Teck
Denver — After spending US$4 billion on acquisitions, Rio Tinto (RTP-N) saw its profits jump 18% in 2000.The London-based mining house posted net earnings of US$1.5 billion (or $1.10 per share), comp…
Teck gets boost from Cominco
By purchasing almost 5.2 million shares of Cominco (CLT-T) at a cost of $127 million in 2000, Teck (TEK-T) increased its ownership of the company to 50.1% and took steps to consolidate it as a subsidi…
Monetary value in question The commodity formerly known as gold
The return of the Republican Party to the U.S. presidency has brought some of the weirder economic views of the political right back into polite discourse. George Bush, Jr., has already unveiled a bud…
Odds ‘n’ sods: Hart and Soul of Elliot Lake
In earlier columns, I referred to the Preston East Dome team and Technical Mine Consultants (TMC), which were both controlled by Joseph Hirshhorn (1899-1981). The so-called Preston East Dome team cons…
NAME CHANGES (February 19, 2001)
Claddagh Gold Ltd. (CDG-V) has changed its name to Resorts Unlimited Management Inc. (RUM-V) on a 1-new-for-4-old-shares basis.