U.S. MARKETS — Dow soars as gold falls
The Dow Jones industrial average climbed 236.71 points, or 2.4%, during the report period ended March 16, briefly touching 10,000, before closing at 9930.47 points.However, it was bad news for miners …
1999
Pangea, Rio Tinto hit values in Peru
Drilling by the exploration arm of Rio Tinto (RTP-N) has intersected copper-gold-silver mineralization at the Pukaqaqa property in Peru, a joint venture with Toronto-based Pangea Goldfields (PGD-T).Th…
Index (March 22, 1999)
CareersClassifiedCommentaryDiamond PageEditorialFacts’n’FiguresLetter to the EditorMetal PricesMining Markets & Investment NewsNews RoundupStock Market…
Redstar to gain Yukon ground
A preliminary option agreement sets the stage for Redstar Resources (RST-V) to acquire the Clear Creek property in the Yukon’s Dawson mining district.To exercise the option, Redstar must spend $1.25 m…
Claude sets production record — Earnings steady but writedowns hurt profit figures
A record year for production at the Seabee gold mine in northern Saskatchewan ensured an operating profit for Claude Resources (CRJ-T) in 1998, but writedowns taken on assets meant earnings were lower…
Winspear, Aber disagree at Camsell Lake
A dispute has arisen between Winspear Resources (WSP-V) and Aber Resources (ABZ-T), partners at the Camsell Lake diamond project in the Northwest Territories.The quarrel centres on Aber’s participatio…
Projects vie for attention at convention
More than 6,500 delegates from throughout the world descended on Toronto in mid-March for the 1999 Prospectors & Developers Association of Canada (PDAC) convention. While international projects clearl…
COMMENTARY — Costs to drop with gold price
The gold price will sink to US$285 per oz. by 2002, though cash costs for Western World producers are also expected to fall, according to a report released by AME Mineral Economics.A study of mine cas…
EXCHANGE RATES (March 22, 1999)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateMar. 16Mar. 15Mar. 12Mar. 11Mar. 10…
GOLD FUNDS (March 22, 1999)
Gold Funds as of March 11, 1999BGRCentralNet Value$14.306.07Price$9.90$5.
Seahawk finds emeralds at property in Brazil
Seahawk Minerals (SKM-V) reports that preliminary drilling at the Piteiras property in Brazil’s Minas Gerais state has encountered emeralds.Two of four holes drilled into high-grade metamorphic rocks …
Juina produces diamonds
Juina Mining (GEMM-O) has started producing alluvial diamonds at its namesake operation in southwestern Brazil, with buyers already lined up for initial shipments.The company holds mining rights to 2,…