TSE slides as precious metals fly
Except for the last day, buyers outpaced sellers over the Nov. 5-11 report period, but not enough to overcome last minute profit-taking. The Toronto Stock Exchange composite index finished the period …
Barrick Gold Corporation
Barrick buys into QGX (November 10, 2003)
Barrick Gold is joining the Mongolian gold rush by acquiring a 9.5% interest in Waterdown, Ont.-based junior QGX (QGX-V).The major has signed on for 3 million QGX shares priced at $4 apiece, a hefty d…
Glamis pockets more profits in Q3
Higher gold prices combined with lower exploration and accounting expenses to keep Glamis Gold (GLG-T) profitable in the third quarter.Net earnings topped US$3.5 million (or 2 per share) on revenue o…
Pan Am Silver sells stake in Tres Cruces
Vancouver — Pan American Silver (PAA-T) has accelerated a deal to sell its half-stake in the Tres Cruces gold project in Peru.New Oroperu Resources (ORO-V) is acquiring the interest, which will give …
Loss sends Agnico-Eagle shares into tailspin (November 10, 2003)
Shares in Agnico-Eagle Mines (AGE-T) lost about a fifth of their value after the mid-tier producer posted a third-quarter loss on the poor performance of its LaRonde gold-copper mine in Quebec.The com…
Barrick rumbles as gold tumbles
Gold took a pounding over the Oct. 29-Nov. 4 report period, withering US$8.25 in overseas trading to settle at London morning fix of US$378.30 per oz. Silver also got smacked, losing US22 to finish a…
Goldcorp cashes in on gold rally
Higher gold prices and a slew of encouraging earnings reports augured well for Canadian producers over the Oct. 21-28 report period. The Toronto Stock Exchange’s gold sub-group climbed 10.71 points to…
Harmony Gold cuts Russian ties
Facing pressure from South Africa’s Reserve Bank to consolidate ownership or cut bait with respect to overseas projects, Harmony Gold (HMY-N) has divested itself of its Russian holdings in two separat…
AngloGold boosts Ashanti bid (October 27, 2003)
AngloGold (AU-N) has bumped its all-share offer for Ghanaian-based Ashanti Goldfields (ASL-N) by 11.5%.The world’s third-largest gold producer is now offering 0.29 of an AngloGold share for each share…
Gold rallies as Barrick breaks the mold
Gold roared back to life in the Oct. 15-21 report period, rising US$4 to a London morning fix of US$374.80 per oz. Silver also shone, rising US6 over the five trading days to finish at US$5 per oz.Ba…
Peru Copper Syndicate eyes low-cost leaching
Vancouver — Catherine McLeod-Seltzer and David Lowell, who, a year ago, re-united to search for gold-silver deposits under the banner of Bear Creek Mining (BCM-V), are turning their attention to the …
Barrick advances Alto Chicama project in Peru
Containing a resource of more than 9.5 million ounces, Alto Chicama is the industry’s largest grassroots discovery in the past several years.Barrick Gold (ABX-T) made the major new gold find in the se…