Eldorado restates earnings (April 29, 2002)
Vancouver — The discovery that a 1994 US$10-million convertible debenture should have been treated as a debt instrument has forced Eldorado Gold (ELD-T) to restate its financial statements for 2000 a…
2002
Golds advance in slumping TSE
The Toronto Stock Exchange started the trading period April 17-23 strongly but lost ground steadily after the weekend. The TSE 300 composite index fell 123.73 points to 7,717.84, finishing 1.6% behind…
NovaGold drills Donlin Creek
As part of a prefeasibility study, NovaGold Resources (NRI-T) has begun drilling at its Donlin Creek project in southwestern Alaska.The work is being financed with proceeds from an $18.5-million equit…
CDNX gains on moderate volume
Canada’s junior exchange moved higher on moderate volume over the week ended April 23. The Standard & Poor’s-CDNX composite index tacked on 8.91 points, or 0.7%, to close at 1,164.08.Goldminco topped …
Athabasca exceeds Saudi reserves
As conventional supplies of oil and gas in Canada are depleted, the oil sands of northern Alberta offer the world an increasingly important energy source with low political risk.Oil sands in Alberta a…
PT Inco squeaks out quarterly profit
Higher nickel-matte output by Inco’s (N-T) 59%-owned Indonesian subsidiary PT Inco helped offset a sharp drop in realized nickel prices during the first quarter.Situated on the island of Sorowako, PT …
Breakwater improves
With zinc prices coming off record lows, Breakwater Resources (BWR-T) is starting to produce more.During the first three months of 2002, the company produced 60,470 tonnes zinc in concentrate, up 15% …
Teck Cominco faces fine
Vancouver — The Workers’ Compensation Board (WCB) has fined Teck Cominco (TEK-T) $270,000 for an accident last year at its Trail lead smelter, in British Columbia, in which workers were exposed to to…
Exchange Rates (April 29, 2002)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateApril 23April 22April 19April 18April 17US$ in C$1.57521.57281.5719…
Eldorado expands zone at Kisladag
Vancouver — The first 20 holes of a recently completed 29 hole drill program on Eldorado Gold’s (ELD-T) Kisladag project in west-central Turkey has expanded the area of known mineralization.Designed …
Bright Star targets platinum prospect
Vancouver — Bright Star Ventures (BSV-V) has outlined exploration targets on its 49-sq.-km Tulameen platinum project in the Cascade mountains of southwest British Columbia, about 26 km northwest of P…
Exploration continues at Kidd Creek
Texasgulf will undertake a major exploration program this year in the vicinity of its Kidd Creek mine in northern Ontario. This follows in the wake of its recent discovery of zinc-lead-silver minerali…