Noranda, Codelco launch Rio Algom takeover
The copper wars that shook up the U.S. and Mexican mining scene earlier this year moved north during the Aug. 16-22 report period, as heavyweights Noranda and Codelco (Corporacion National Del Cobre d…
2000
Gold loses lustre in slow market
The Dow Jones industrial average rose 72.15 points, or 0.65%, during the report period ended Aug. 22. It closed at 11,139.15, spurred on by news the U.S. Federal Reserve would not increase interest ra…
Hope Bay program expanding
Miramar Mining (MAE-T) and Hope Bay Gold (HGC-T) have authorized $4 million in exploration spending for their jointly owned properties in the Hope Bay greenstone belt in Nunavut.The companies will con…
Cominco hands Bongara zinc project to Australia’s Pasminco
For an undisclosed amount, Cominco (CLT-T) has transferred its right to earn 65% of the Bongara zinc project in northern Peru to Australia’s Pasminco.The latter, through its Peruvian subsidiary, will …
CDNX pulls out of summer slump
Canada’s junior exchange closed the week ended Aug. 22 on an up-note as all indices posted gains. The Canadian Venture Exchange composite index tacked on 37.25 points, or 1.1%, to finish the week at 3…
Geomaque shows recovery in 2000 Metals Commentary
Geomaque Explorations (GEO-T) stayed profitable in the three months ended June 30, making US$561,000 (US1 per share) on revenue of US$6.3 million. The company also saw production increase and costs d…
Gold Funds (August 28, 2000)
Gold Funds as of August 17, 2000Dynamic MutualCentral FundNet Value$12.78$5.42Price$7…
Hecla, Freeport execs jump on cheap shares
Recent insider trading transactions reported by the U.S. Securities and Exchange Commission include the following:- Hecla Mining (HL-N) — Arthur Brown, chairman, bought 25,000 shares at US94 per sha…
South-Malartic finds more gold at Croinor
Definition drilling by South-Malartic Exploration (MSU-M) continues to intersect gold at the Croinor project, 75 km east of Val-d’Or, Que.Earlier this year, the junior proved the existence of flat-lyi…
Geita fortifies Ashanti’s quarter
Contributions from the recently opened Geita mine in Tanzania helped Ashanti Goldfields (ASL-N) post a profit in the second quarter.Gold production at the 50%-owned mine began in June and amounted to …
Sherritt doubles profits, repurchases debentures
Diversified conglomerate Sherritt International (S-T) saw earnings more than double during the second quarter, thanks to a strong operating performance and higher prices for nickel and oil.Sherritt po…
Sigma performance drags down McWatters
Disappointing operating results from the Sigma-Lamaque complex in Val d’Or, Que., have pulled gold miner McWatters Mining (MCW-T) back into the red.For the second quarter ended June 30, McWatters post…