Barrick Preserves Strong Balance Sheet
The economic crisis may be pushing many companies to the wall, but Barrick Gold (ABX-T, ABX-N) ended the year with a cash balance of US$1.4 billion, an undrawn US$1.5-billion credit facility, and the …
Canada
Barrick Buys Out Teck At Hemlo
In yet another asset sale to deal with its short-term debt crisis, Teck (TCK. B-T, TCK-N) is unloading its half stake in the Hemlo gold assets in northwestern Ontario on its joint-venture partner, Bar…
Capstone Upgrades Kutcho Resource
VANCOUVER — Every little increase in grade helps at current copper prices.
Yamana Makes Headway In Mexico, Brazil
It was just four months ago that Yamana Gold (YRI-T, AUY-N) was trading in Toronto at the very bottom of its 52-week price range of $4.29-19.79 per share.
Shore Gold Looks Beyond Current Diamond Demand Collapse
SASKATOON, SASK. — As with all other commodities, diamonds had a rough year in 2008. All sectors of the diamond pipeline have adjusted, and will continue to adjust to the current economic climate.
Apollo Pays Hefty Price For Black Fox Funds
Apollo Gold (APG-T, AGT-X) now has the money it needs to push ahead with the construction of its Black Fox gold mine near Timmins, Ont., but at what cost?
Meliadine Gets Scoping Study Go-Ahead
VANCOUVER — After 20 years of work in Canada’s North, Comaplex Minerals (CMF-T, CXMLF-O) has a positive scoping study in hand for a combined open-pit/underground operation at its Meliadine gold proje…
Editorial: De Beers’ US$500M Bailout
The seventh trading week of 2009 closed out with news of profound cash-flow problems at the iconic diamond miner De Beers, underscoring the global collapse in demand for luxury goods such as diamonds.
Queenston Refuels With $18M Financing
Queenston Mining (QMI-T, QNMNF-O) has big spending plans for the Kirkland Lake gold camp, in northwestern Ontario, where it’s developing four gold deposits.
Peregrine Picks Up Land Surrounding Chidliak
Peregrine Diamonds (PGD-T, PGDIF-O) is more than doubling its prospecting rights on Baffin Island, Canada’s newest diamond district.
Beleagured Teck Posts $607M Net Loss In Q4
VANCOUVER — Don Lindsay, the president and CEO of Teck (TCK. B-T, TCK-N), addressed the company’s heavy debt load and burgeoning fourth-quarter net loss in a conference call with investors on Feb 17.
Abacus Tallies Growing Copper-Gold Resource At Ajax
VANCOUVER– It was an old box of forgotten data in the back of a mill building that changed everything for Abacus Mining & Exploration (AME-V, ABCFF-O). Now, three and a half years after finding t…