NEWS IN BRIEF (March 01, 1999)
Jopec Resources (JPR-V) has changed its name to Fortuna Ventures (FVI-V) on a 1-new-for-7-old-share basis.
News
Russia renews promises for coal reform — Proposals include cash, mine designations, increased exports
Russian Prime Minister Yevgeny Primakov has pledged $780 million to the country’s battered coal industry as the first step in a new government restructuring plan.The money will be used to pay wages ow…
Meetings (March 01, 1999)
March 1, Curran BayMarch 2, Int’l DatashareMarch 3, WindarraMarch 9, Cons. AbitibiMarch 9, IntertechMarch 9, LakewoodMarch 9, MustangMarch 9, RamarroMarch 10, Harvey CreekMarch 10, MacMillanMarch 10, …
Holmer resource up after drill program
A 36-hole shallow drill program by Holmer Gold Mines (HGM-T) has permitted a new resource calculation at the company’s Bristol Twp. project, west of Timmins, Ont.Holmer’s new estimate of 1.96 million …
Battle Mountain writes off stake in Lihir — More gold produced at Golden Giant, Kori Kollo
To fund development projects in the U.S., Battle Mountain Gold (BMG-N) will dispose of its interest in the Lihir gold mine in Papua New Guinea.The company holds an 8.65% interest in the mine’s owner, …
Profits, hedging buoy Placer Dome
With gold production reaching a record high and cash costs falling to a record low, Placer Dome (PDG-T) bucked the industry trend and recorded a strong financial and operating performance for 1998.The…
Drill results keep AG in spotlight
While drilling continues, along with discussions with major mining companies, Argentina Gold (ARP-V) has released an updated resource estimate for two targets at its 60%-owned Veladero gold-silver pro…
Nevsun to sell Kubi to Ashanti Goldfields
African producer Ashanti Goldfields (AHD-T) will pay Nevsun Resources (NSU-T) US$1.8 million, in addition to a production royalty, for surface rights to the Kubi gold project in Ghana.Nevsun owns 100%…
Mindoro has Tigris by the tail
Mindoro Resources (MIO-A) has extended a large epithermal gold system at the Tigris property on the Indonesian island of Sumatra.The gold system now measures more than 5.8 by 2.5 km, with multiple zon…
EASTERN MARKETS — TSE moves higher despite rut in resource stocks
The Toronto Stock Exchange was higher over the report period Feb. 17-23, with the retail and manufacturing stocks leading the way. The TSE 300 composite index added 68.26 points, or 1.1%, to close at …
TSE INDICES (March 01, 1999)
1999 — DateFeb. 23Feb. 22Feb. 19Feb. 18Feb. 17HighLow…
LME WAREHOUSE LEVELS (March 01, 1999)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Feb.23/99 (change from Feb. 16 in brackets):MetalStocks(tonne)Change…