Gold Funds (May 08, 2000)
Dynamic MutualCentral FundNet Value$12.77$5.49Price$8.00$5.10Discount37.35%7…
News
Spot Prices Wed. May 3, 2000Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$277.60-$0.10Silver$ 5.00+$0.03…
Richmont posts quarterly profit
Higher gold prices enabled Richmont Mines (RIC-T) to turn a small profit in the first quarter.Net earnings in the three months ended March 31 totalled $846,329 (or 6 per share) on revenue of $11 mill…
Alcan poised to start Quebec smelter
Alcan Aluminum (AL-T) is only months away from starting up a large-scale greenfield smelter in Alma, Que., shareholders were told at the company’s annual meeting in Montreal.The plant is 2.5 km west o…
Pierina, Goldstrike power Barrick’s quarter
On the back of excellent contributions from the Pierina mine in Peru and the Goldstrike property in Nevada, juggernaut Barrick Gold (ABX-T) has posted stronger-than-expected results for the first quar…
Cambior revived by Japanese cash infusion
Gold dropped to a fresh 7-month low of US$272 per oz. during the April 26-May 2 report period before recovering slightly to reach a London morning fix of US$277.70 per oz. on May 3.Gold’s rebound on t…
Junior exchange shows modest gains
April trading activity on the Canadian Venture Exchange was off 61% from the previous month as technology stocks retrenched from their lofty heights. The CDNX declined 18% over March, while, during th…
Prefeasibility paints robust picture of Snap Lake project
A $40-million program of advanced exploration now under way at the NW Snap Lake project in the Northwest Territories will provide operator Winspear Resources (WSP-T) with all the information required …
Mining: the year in review
Nineteen ninety-nine was both difficult and disappointing for British Columbia’s mining industry: two mines closed and no new mines were opened. Moreover, mineral exploration spending plummeted dramat…
Potash Corp. of Saskatchewan sets new quarterly record
Record demand for potash and the sale of the Moab mine in Utah translated into an exceptional first quarter for Potash Corp. of Saskatchewan (POT-T).Earnings in the three months ended March 31 topped …
Gitennes eyes Nunavut, Peru
Armed with airborne geophysical data, the world’s second-largest copper producer, Phelps Dodge (PD-N), is set to launch an 8-to-10-hole drill program on the Nowyak gold-silver-zinc property in Canada’…
Drilling resumes at Meadowbank gold project
A staged $1.5-million program of drilling and surface exploration is under way at the Meadowbank gold property, near Baker Lake, Nunavut.Cumberland Resources (CBD-T) is focusing on showings discovered…