Phelps takes writedown as prices plummet
A US$61-million writedown related to restructuring has wiped out Phelps Dodge’s (PD-N) slender second-quarter earnings of US$1.2 million (or 2 cents per share), leading the company to post a loss of U…
1999
Ashanti posts strong second quarter
Low operating costs triumphed over weak gold prices for Ashanti Goldfields (ASL-N), propelling the company to a profitable second quarter.The Ghana-based producer earned US$16.4 million (or 15 cents p…
Meetings (September 06, 1999)
Sept 7 Gossan Sept 8 Blackpool Sept 8 Cons. Interstat Sept 8 Stratabound Sept 8 Tikal Sept 9 Gold Summit Sept 9 Trans Hex Sept 10 Ascot Sept 10 Golden Band Sept 13 Grace , specialSept 13 Int’l Taurus …
Production steady for High River
Revenue for High River Gold Mines (HRG-T) dropped about 50% between the second quarters of 1998 and 1999, as lower cash costs at its mines failed to offset the effect of expired hedging contracts.Howe…
PRODUCER & DEALER PRICES (September 06, 1999)
Antimony: Mid-mkt US$1,215/t.Bismuth: Mid-mkt US$3.90/lb.Cadmium: Mid-mkt US$0.20/lb.Chromium: Mid-mkt ores US$65/t.Cobalt: Recent trades US$18.60-20.00/lb.Copper: Comex Sept. US$0.777/lb.Indium: Indi…
Fancamp makes discovery
An early-stage gold discovery has Fancamp Resources (FNM-V) hopeful of the potential of its newly acquired Kourouba concession in the Kalana region of southwestern Mali, 90 km south of the capital cit…
OBITUARIES (September 06, 1999)
Mervyn Arthur UphamMervyn Upham, who earned a place in the Canadian Mining Hall of Fame for his part in developing 22 mines in this country, has died following a lengthy illness. He was 82.Born in Bay…
EuroZinc discovers new zone at Feitais
EuroZinc Mining (EZM-V) has intersected a shallow, high-grade zinc zone in the Feitais massive sulphide deposit at the formerly producing Aljustrel property in southern Portugal.The first two holes of…
MINING MARKETS & INVESTMENT NEWS — INSIDER TRADING — Normandy executives boost holdings
Recent insider trading transactions reported by the Ontario Securities Commission in its OSC Bulletin include the following:Aurado Exploration (AEO-T) — Paul Conroy, director, sold 88,500 shares indi…
Bissett mine expansion to go ahead
With this year’s production figures indicating signifcant cost improvements, South African miner Harmony Gold (HGMCY-Q) has approved a $6-million expansion program for its Bissett operation in eastern…
Avalon finds tantalum at Raleigh Lake
Avalon Ventures (AVL-V) has discovered tantalum mineralization in pegmatite dykes at the Raleigh Lake property, near Ignace in northwestern Ontario.One grab sample yielded a value of 0.22% Ta2O5 plus …
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