Diamond find at Festival proves low grade
The largest diamond recovered from a 100-tonne test sample of the Cristal showing on the Festival diamond property held near Wawa, Ont., weighed just 0.18 carat.Property owner Pele Mountain Resources …
2002
Central bank selling pricks ears of producers
The issue of central bank selling resurfaced during the Feb. 13-19 report period, after Germany revealed its intention to unload some of its reserves.On Feb. 19, Bundesbank President Ernst Welteke tol…
KEGS goes hardrock
The Canadian Exploration Geophysical Society (KEGS) will host a short course on hardrock seismics on March 9, during the week of the annual convention of the Prospectors & Developers Association of Ca…
Newmont rises to the top
The volume leader among all the miners during the report period was Newmont Mining, which finally won control of both Normandy Mining and Franco-Nevada Mining, making it the the world’s largest gold m…
CDNX follows major bourses down
Vancouver — Canada’s junior exchange slid into bear country over the week ended Feb. 19. The Standard & Poor’s-CDNX composite index dropped 35.92 points, or 3.1%, to close at 1116.95.With drill resul…
Swastika prints available to public
In 1911, Dr. Michael Steele, president of Swastika Mining Co. and a native of Tavistock, Ont., southeast of Stratford, took a trip to the small gold mining town of Swastika in northern Ontario with a …
GREATEST VALUE TRADED, FEB. 13-19
ExchgVal($000s)HighLowCloseChangeNewmont Mng*N86260125.2923.3123.77-0.20…
Spot Prices Wed. February 20, 2002
Precious MetalsPrice (US$/oz.)ChangeGold$294.20-$3.20Silver$ 4.50+$0.06Platinum$471.00+$…
Exchange Rates (February 25, 2002)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateFeb. 19Feb. 18Feb. 15Feb. 14Feb. 13US$ in C$1.58851.59111.59121.5…
BHP Billiton knocks down Tower
BHP Billiton (BHP-N) is closing the Tower coal mine in New South Wales, Australia, as part of an ongoing effort to cut costsTower is one of four underground mines that constitute the Illawarra operati…
Getchell mine pushes Placer into red
Vancouver — Placer Dome (PDG-T) posted a US$29-million profit during the fourth quarter of 2001, but US$301 million in writedowns pushed the company US$133 million into the red for the year.Quarterly…
Faro agreement nixed
The federal Department of Indian and Northern Affairs, the Yukon government and Teck Cominco have terminated their memorandum of understanding (MOU) on the management of assets at the defunct Faro bas…