Correction (October 04, 2004)

In our Sept. 17-23 issue, we incorrectly stated that late last year, Quadra Mining (QUA-T) bought a 33.6% ownership interest in the Highland Valley Copper mine. The article should have stated that Teck Cominco, in February 2004, exercised its first right of refusal and paid BHP Billiton US$73 million for the Highland Valley Copper mine interest.

Quadra Mining received a US$2.5-million break fee from BHP Billiton. Meanwhile, Quadra’s purchase price of the Robinson mine was adjusted down to US$14.3 million (from the US$14.8 million we reported), as a result of losing the purchase of Highland Valley Copper.