Meridian eyes half-stake in Gold Hawk
Mid-tier producer Meridian Gold (MNG-T) has reached an agreement that could give it a controlling interest in Montreal-based junior Gold Hawk Resources (CGK-V).Under the proposed deal, Meridian would …
2002
Drills turn at McCuaig (February 11, 2002)
Vancouver — Rubicon Minerals (RMX-V) has kicked off a 3,050-metre drill program on the McCuaig gold project in Red Lake, Ont.The company is targeting a gold-bearing structural zone discovered last ye…
Gold Fields’ earnings nearly triple (February 11, 2002)
Reflecting a weakened South African rand and a month’s production from the recently acquired St Ives and Agnew mines in Western Australia, Gold Fields (GOLD-Q) has reported record earnings of US$67 mi…
Brett licence approved
The government of El Salvador has issued an exploration licence covering the El Potosi gold mine to Vancouver-based Brett Resources (BRN-V). The new licence was issued in conformance with a new Mining…
Lending Rates (February 11, 2002)
as of 4 pm ET, Feb. 5, 2002 (%)Bank of Canada2.25Canadian Prime3.75U.S. Discount1.25U.S. Prime4.75…
Phelps Dodge ends dismal year (February 11, 2002)
Vancouver — Poor demand and weak prices plagued the balance sheet of the world’s second-largest copper producer in 2001.Phelps Dodge (PD-N) posted a fourth-quarter loss of US$78.3 million (or US$1 pe…
Expatriate exits Fox River (February 11, 2002)
Vancouver –The Hunter-Dickinson group ends up with a 15.7% stake in cash-strapped Expatriate Resources (EXR-V) following the junior’s withdrawal from a $2.5-million deal to pick up a 12% stake in the…
John McCombe
Veteran geological engineer John McCombe, well known for his involvement in the aggregate industry and in open-pit mining, has died.McCombe, who graduated with a bachelor of science degree in geologic…
CIM looks for comments on practice guidelines
The Estimation Guidelines Committee of the Canadian Institute of Mining, Metallurgy and Petroleum has completed its draft guidelines covering proposed “best practices” for estimating mineral resources…
Ekati diamond raffle will benefit children’s hospital
Vancouver — A diamond from the Ekati mine in the Northwest Territories will be raffled to raise money for Vancouver’s British Columbia Children’s Hospital.The raffle is part of the Mining for Miracle…
Canabrava to raise $1.2m
In the midst of diamond exploration in northern Ontario and the Mistassini area of north-central Quebec, Canabrava Diamond (CNB-V) intends to raise up to $1.2 million by selling up to 3 million units …
Exchange Rates (February 11, 2002)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateFeb. 5Feb. 4Feb. 1Jan. 31Jan. 30US$ in C$1.59781.59151.5907…