Half a crusade
The state of New York and the investment firm Merrill Lynch have jointly announced the terms of a settlement in the state’s investigation into conflicts of interest in Merrill’s rating of stocks. The …
2002
News – 27-MAY-02
Geomaque bleeds red in 2001
Struggling junior gold miner Geomaque Explorations (GEO-T) has released its year-end financial results, and they aren’t pretty.The net loss for the year ended Dec. 31, 2001, was US$10.5 million (US17…
Meridian eager to drill Machacala (May 27, 2002)
Meridian Gold (MNG-T) is gearing up for its first round of exploration drilling at the Machacala gold-silver property in Peru, held by Montreal-based junior Gold Hawk Resources (CGK-V).As operator, Me…
Commentary: Some new perspectives on Busang’s red flags
According to the critics of Bre-X’s gold project in Kalimantan, Indonesia, the warning signs, or “red flags,” were numerous and obvious and should have alerted those involved that the gold mineralizat…
Ivanhoe drives Mongolian exploration
Vancouver — After a decade of false starts, mineral exploration is finally gaining some traction in Mongolia.A vast highland country, Mongolia is land-locked between Russia to the north and China to …
Pacific Rim sets sights on La Calera
Vancouver — Having completed their merger, Dayton Mining and Pacific Rim Mining are preparing for a 7,000-metre drill program on the El Dorado gold project in El Salvador.The combined entity, which r…
Canada, S. Africa sign pacts
Natural Resources Minister Herbert Dhaliwal has signed two agreements with his South African counterpart, Phumzile Mlambo-Ngcuka, to increase co-operation in research and activities linked to sustaina…
Auto sector drives platinum demand
Demand and prices for platinum will remain firm, but the outlook for palladium is less positive, according to Platinum 2002, an annual report published by London-based Johnson Matthey.Demand for plati…
Kennecott undeterred at Rockinghorse (May 27, 2002)
Spring drilling by Kennecott Canada Exploration on 12 exploration targets at the Rockinghorse joint venture in Nunavut’s emerging Coronation Gulf district failed to intersect any new kimberlites. Howe…
Harmony resumes mining after day of violence
Two miners and a security guard have been injured in a violent outbreak at Harmony Gold Mining’s Kalgold mine in northeastern South Africa.Striking miners allegedly attacked the mine’s security person…
Inco strike misguided
The Inco strike is a bad strike — bad for the workers, bad for the company, bad for the community and ultimately bad for the country.It’s hard to fathom why 72% of the 10,000 members of Local 6500 of…