Rio Narcea still in red
Low gold prices have taken their toll on Rio Narcea Gold Mines (RNG-T), which posted a loss of US$2.1 million last year on revenue of US$31.7 million from its mining operations in northern Spain.In th…
News
Franco-Nevada helps prop up sagging TSE
Hit by profit-taking, the Toronto Stock Exchange 300 index retreated 2.3%, or 215.89 points, during the May 3-9 report period. The broad market ended the week at 9,294.39.Gold climbed 20 over the per…
Low prices hit Echo Bay
Despite an increase in gold and silver production and a decrease in operating costs, Echo Bay Mines (ECO-X) was unable to triumph over low gold prices in the first quarter.Compared with the correspond…
Expatriate acts alone at Kudz Ze Kayah
With a potential partner now out of the picture, Expatriate Resources (EXR-V) intends to act unilaterally when it acquires mineral assets held by Cominco (CLT-T) in the Finlayson Lake district of sout…
Metal Prices (May 15, 2000)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateMay 9May 8May 5May 4Ma…
LME WHSE LEVELS (May 15, 2000)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 9/00 (change from May 2 in brackets):MetalStock (tonnes)Change…
Virtual mining
The Kemi chromium mine in Finland is the first Intelligent Mine insofar as it is charting the course toward a system in which routine operations are automated and unmanned, machines are remote-operat…
Wayside results set downbeat tone for CDNX
The report period ended May 9 marked a 148.34-point decline as the Canadian Venture Exchange index fell through the 3,500 level to close down 4.1% at 3,449.78. The mining index shed 100.85 points, or …
Tres-Or on PGE bandwagon
An option agreement will enable Tres-Or Resources (TRS-V) to explore for platinum group elements (PGE) near Timmins, Ont.Provided regulators approve the deal, the junior can earn a 100% interest in 19…
EXCHANGE RATES (May 15, 2000)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateMay 9May 8…
Blast from the past
Back around 1955, I met up with three Irish prospectors from Noranda in northwestern Quebec. Joe, the vice-president (“in charge of vice,” he’d often say), ran an exploration outfit with the assistanc…
Timmins vows to save headframes
Gold mining and Shania Twain have put Timmins, Ont., on the map in mining and music circles. And yet while the beat goes on for the Timmins songstress, the city’s mining heritage is being eroded by pl…