EXCHANGE RATES (March 01, 1999)
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News
Homestake posts profit for quarter — Gain reflects year-long restructuring plan
Benefiting from an overhaul, Homestake Mining (HM-N) reported earnings of US$1.4 million (or 1 cents per share) for the fourth quarter of 1998, compared with a loss of US$58.4 million (28 cents per sh…
More strong medicine for Inmet Mining
Another year of restructuring has left Inmet Mining (IMN-T) with a healthier balance sheet and a net profit of 25 cents a share.The Toronto-based company earned $31 million on revenue of $106 million …
Conference promotes ‘African renaissance’
Despite low commodity prices and the political turmoil engulfing many African states, the mood at this year’s Investing in African Mining conference (also known as Indaba) was guardedly optimistic, as…
EDITORIAL — The Euro, inflation and gold — New rules for new world
The introduction of the Euro-dollar by the European Monetary Union has experts speculating about the role of gold in the world economy. The World Gold Council has suggested that rivalry between the U….
Valerie to drill Estrella property
Junior Valerie Gold Resources (VLG-V) is about to begin diamond drilling at its 16,866-ha Estrella property in the western Mexican state of Nayarit.The 2,500-metre program will test the grade, depth p…
DIAMOND PAGE — IG boosts stake in Bakyrchik mine
Although weak gold markets make it unlikely the Bakyrchik mine will resume production any time soon, Indochina Goldfields (ING-T) has acquired the remaining 20% stake in the Kazakstani gold project an…
Writedowns lead to loss for Teck — Carosue Dam targeted for feasibility; Antamina contracts awarded
Despite having taken some significant writedowns in junior companies during the past few years, Teck (TEK-T) hasn’t shied away from its longstanding practice of investing in juniors with promising exp…
Cost-cutting adds strength to Eldorado
Rigorous cost-cutting enabled Eldorado Gold (ELD-T) to triumph over production shortfalls in the recent fourth.During the 3-month period ended Dec. 31, 1998, Eldorado produced 39,932 oz. gold, compare…
Lac Rocher property picture begins to clear
Staking around the Nuinsco Resources (NWI-T) nickel-copper discovery near Lac Rocher, Que., is continuing, as option deals are being signed on properties in the region, about 120 km northeast of Matag…
EDITORIAL & OPINION — ODDS ‘N’ SODS — Mr. Sandman
While prospecting near Lake Abitibi in Ontario in 1963, I had an odd experience involving a so-called gold mine.In order not to have any problems with thieves while I was prospecting, I would park the…
A tale of two MKs
This letter is in regard to the article “MK Gold picks up Carlin-style project,” (T.N.M., Jan. 11-17/99). Your article erroneously referred to MK Gold as “MK” numerous times.Please be advised that the…