Return of the commodity cycle
A study recently presented to the Department of Industry concludes that the energy industry is finding it difficult to raise investment capital, and that there is some danger the industry will cut bac…
2002
Eldorado stays in black
Vancouver — With production back to normal at the Sao Bento mine in Brazil, Eldorado Gold (ELD-T) managed to turn a solid profit in the third quarter.Earnings for the period totalled US$2 million (or…
Horne strike hits CCR refinery (November 04, 2002)
Noranda (NRD-T) intends to cut staff at its CCR refinery in Montreal by about 15%, citing revenue losses caused by striking workers at its Horne copper smelter in Rouyn-Noranda, Que.The smelter normal…
Spot Prices Wed. October 30, 2002 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$317.15+$3.75Silver$ 4.48+$0.07Platinum$590.00+$…
Canadian Stock Exchange Indices (November 04, 2002)
DateOct. 29Oct. 28Oct. 25Oct. 24Oct. 23HighLowTSX Composite6294.816419.376405.876336.86…
High Arctic zinc mine closures signal end of era
Nanisivik, Nunavut — The final zinc and lead concentrate shipments from the High Arctic departed for Europe’s smelters in September, signaling the end of an era for Canadian mining.For more than two …
Wolfden outlines depth potential at High Lake
Vancouver — Wolfden Resources (YWO-V) continues to intersect high-grade copper mineralization at depth and down-plunge in the B zone of its High Lake property, in the Kitikmeot region of Nunavut, abo…
OM in freefall
After dropping from US$40 to US$30 in the previous week, the shares of cobalt refiner OM Group collapsed further during the report period, falling 71% on Oct. 29 to US$8.95 and closing at US$7.49 on t…
Ariane confirms French Guiana grades
Vancouver — Initial results from ongoing drilling by Ariane Gold (AGD-T) have confirmed that high-grade zones occur in a broad gold resource at the Camp Caiman project in French Guiana.The infill pro…
St. Jude drills for gold in Ghana
Vancouver — St. Jude Resources (SJD-V) has launched a drilling campaign designed to trace the strike and downdip extension of high-grade zones at the Subriso and Hwini-Butre prospects in Ghana, West …
NAME CHANGES (November 04, 2002)
Redstar Resources (RST-V) has changed its name to Redstar Gold (RGC-V) on a 1-new-for-6-old-share basis.Seine River (SRO-V) has changed its name to Trinity Plumas Capital…
Ashanti ends profitable quarter (November 04, 2002)
Ghanaian gold producer Ashanti Goldfields (ASL-N) maintained its profitability in the third quarter, while the pressure of near-term debt continued to subside. Ashanti made US$22.5 million (or US18 p…