Grupo Mexico OKs offering
At its recent annual meeting, held in Mexico City, Grupo Mexico authorized the issuance of up to 70 million shares of new stock.Current shareholders can subscribe to the new Series B stock at 50 pesos…
News
Zamora to boost output
The Campanillas gold operation in southeastern Ecuador will undergo a five-fold expansion.Zamora Gold (ZMRA-C) has purchased a 3-by-4-metre ball mill, a cone crusher, eight cyclones and six new flotat…
MEETINGS (May 08, 2000)
May 10 Bonanza — annual, specialMay 10 Boreale — specialMay 10 Corsair — annual, general, specialMay 10 Devlan — annual, generalMay 10 Velvet…
Inmet stays profitable in first quarter
A substantial increase in earnings from its Cayeli and Troilus mines allowed Inmet Mining (IMN-T) to earn $2.9 million, or 6 per share, on revenue of $28.1 million in the first quarter of 2000.Inmet’…
Stake in Cominco gives boost to Teck
Teck’s (TEK-T) 40.4% equity stake in Cominco (CLT-T) paid off handsomely in the first quarter. The latter earned $7 million (or 6 per share) on sales revenue of $168.5 million, compared with a $1.8-m…
Homestake expands Veladero gold deposit
Since announcing a reserve estimate for its Veladero gold-silver project in northern Argentina, Homestake Mining (HM-N) has discovered new zones of mineralization that could improve the economics of t…
Wayside faces quality concerns
As its drill program continues to cut bonanza-grade gold values over considerable widths, International Wayside Gold Mines (IWA-V) has hired an independent geological consulting firm to verify the pre…
Fall from grace
Complacency is no friend to capital markets, and neither is incompetent government. Sadly, the government of British Columbia is so riddled with incompetence and scandal that it seems barely to notice…
No Headline (May 08, 2000)
Kinross awash in red ink
Stagnant gold prices have forced Kinross Gold (K-T) to chalk up another quarterly loss.Net losses for the first three months of 2000 totalled US$7.8 million (or 3 per share) on revenue of US$70 milli…
McEwan to discuss Challenge
Robert McEwan, president of Goldcorp, will be the guest speaker at a noon luncheon of the Toronto branch of the CIM, scheduled for May 18 at the Ontario Club.The presentation will focus on the “Goldco…
Clarification (May 08, 2000)
The News Roundup article “SNC begins Pascua work” (The Northern Miner, May 1/00) stated that SNC-Lavalin began site development in February, with the implication that construction of the Pascua mine w…