Metal Prices (May 15, 2000)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateMay 9May 8May 5May 4Ma…
2000
LME WHSE LEVELS (May 15, 2000)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, May 9/00 (change from May 2 in brackets):MetalStock (tonnes)Change…
Virtual mining
The Kemi chromium mine in Finland is the first Intelligent Mine insofar as it is charting the course toward a system in which routine operations are automated and unmanned, machines are remote-operat…
Wayside results set downbeat tone for CDNX
The report period ended May 9 marked a 148.34-point decline as the Canadian Venture Exchange index fell through the 3,500 level to close down 4.1% at 3,449.78. The mining index shed 100.85 points, or …
Tres-Or on PGE bandwagon
An option agreement will enable Tres-Or Resources (TRS-V) to explore for platinum group elements (PGE) near Timmins, Ont.Provided regulators approve the deal, the junior can earn a 100% interest in 19…
EXCHANGE RATES (May 15, 2000)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateMay 9May 8…
Blast from the past
Back around 1955, I met up with three Irish prospectors from Noranda in northwestern Quebec. Joe, the vice-president (“in charge of vice,” he’d often say), ran an exploration outfit with the assistanc…
Timmins vows to save headframes
Gold mining and Shania Twain have put Timmins, Ont., on the map in mining and music circles. And yet while the beat goes on for the Timmins songstress, the city’s mining heritage is being eroded by pl…
Dow drops as gold edges higher
The Dow Jones industrial average dropped 194.37 points, or 1.8%, during the report period ended May 9 to close at 10536.75.Spot gold on the Comex division of the New York Mercantile Exchange picked up…
Northern Miner Indices (May 15, 2000)
NORTH AMERICAN MINING INDEXCompanyTickerWeight (%)Barrick Gold…
Gold Fields improves earnings
South African-based Gold Fields (GOLD-Q) increased its earnings in the first quarter despite a 3% drop in the price of gold over the past three months.The company turned a profit of US$36.9 million (o…
Ken Snyder mine boosts Franco-Nevada to record year
The Ken Snyder gold mine in Nevada’s Midas district gave a major boost to the bottom line of Franco-Nevada Mining (FN-T) in its fiscal year ended March 31, 2000.The Toronto-based company posted net ea…