Exchange Rates (July 30, 2001)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateJuly 24July 23July 20July 19July 18US$ in C$1.53811.54461.54481.5…
2001
Grades holding up at Sultan’s Gold Mountain
Vancouver — Results from the first hole in a second round of drilling on the Kena gold property, near Nelson, B.C., have enhanced the bulk-tonnage potential of the Silver King porphyry.Sultan Mineral…
Gold Funds (July 30, 2001)
Gold Funds as of July 19, 2001Dundee Precious MetalsCentral FundNet Value$13.64$5.21Price$9.75$4.70…
South African strike delayed
At presstime, a national strike at South Africa’s gold mines had been postponed until late July. However, the National Union of Mineworkers (NUM) said the labour action would go ahead at certain coal …
Inco earnings down in second quarter (July 30, 2001)
Nickel producer Inco (N-T) posted second-quarter earnings of US$45 million as revenue from nickel sales continued to shrink. At the same time, the company unveiled a deal with the government of New Ca…
Goldcorp soars at Red Lake mine
With results continuing to exceed predictions, Goldcorp (G-T) has once again revised its production forecast for the Red Lake mine in northwestern Ontario.Production is now expected to top an impressi…
Rio narrows gap with Anglo
Rio Tinto continues to gain ground on Anglo American in its quest for first place among global mining companies, as ranked by the Raw Materials Group in Who Owns Who in Mining 2001.The U.K.-based tita…
PEOPLE (July 30, 2001)
Elkhorn — Robert Trenaman appointed director.National Gold — Chester Millar, Albert Matter and James McDonald appointed directors.Plexmar — Louis Lessard appointed director.
Kirkland Lake to host conference
Sample preparation and laboratory safety will be among the topics discussed at CMA 2001, a conference of the Canadian Mineral Analysts, slated for Sept. 17-20 in Kirkland Lake, Ont.A trade show and se…
Rio Tinto ups SouthernEra stake (July 30, 2001)
London-based mining giant Rio Tinto (RTP-N) has agreed to up its stake in Toronto-based SouthernEra Resources (SUF-T) via a private placement of 2.5 million SouthernEra shares at $3.75 apiece.The move…
Inmet profitable in Q2
Better operating results but poorer metal prices combined to keep second-quarter earnings at Inmet Mining (IMN-T) roughly the same as in 2000. For the three months ended June 30, the copper and gold p…
Staff Investment Policy (July 30, 2001)
The Northern Miner does not permit any editorial employee to file stories about companies in which the writer owns shares. Editorial employees are also not permitted to take part in initial public off…