Cambior’s loss widens in quarter
Lower realized gold prices in the second quarter frustrated Cambior’s (CBJ-T) ongoing efforts to recover from a hedge book gone wrong in 1999.During the three months ended June 30, the company suffere…
2001
River turns to shareholders
Hard-pressed for cash, River Gold Mines (RIV-T) is attempting to raise $5.4 million by issuing just over 31 million rights to its shareholders.Proceeds are earmarked for debt reduction, working capita…
Exchange Rates (August 13, 2001)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateAug.7Aug. 6Aug. 3Aug. 2Aug. 1US$ in C$1.5340Holiday1.53481.5412…
Anglogold posts solid results
Vancouver — Despite lower production, the world’s largest gold producer saw its earnings jump 19% in the second quarter.Anglogold (AU-N) posted a profit of US$63 million (or 62 per share) in the thr…
Metal Prices (August 13, 2001)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateAug.7Aug. 6Aug. 3Aug. 2Aug. 1Aluminium1356/1386…
LME WHSE LEVELS (August 13, 2001)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Aug. 7/01 (change from July 31 in brackets):MetalStock (tonnes)ChangeAluminium665175(…
Kinross improves bottom line
Although still mired in the red, Kinross Gold (K-T) has lessened the load by increasing production and lowering cash costs at all of its primary operations.Losses in the three months ended June 30 tot…
Rockinghorse returns micros
A kimberlite discovery by Kennecott Canada Exploration on Tahera’s (TAH-T) Rockinghorse property in Nunavut has yielded a significant number of stones.An aggregate 276-kg sample of core from the disco…
Two new kimberlites found at Ekati
BHP Diamonds has uncovered two additional kimberlite pipes at the Ekati mine property in the Northwest Territories, bringing the total to 138.The latest pipes were discovered during a spring drilling …
GREATEST VALUE TRADED, AUGUST 1-7
ExchgVal($000s)HighLowCloseChangeAlcoa*N49050939.3036.5137.00-2.23…
Iamgold profitable in second quarter
Still buoyed by the performance of the Sadiola Hill mine in western Mali, Iamgold (IMG-T) has posted second-quarter earnings of US$2.6 million (or 4 per share) on revenue of US$15.2 million.Sadiola, …
Analysts weigh prospects of base metal producers
The first half of 2001 was no picnic for base metal producers, and most mining analysts expect prices to remain weak and vulnerable to downward pressure from funds and speculators for the rest of the …