Lending Rates (August 11, 2003)
as of 4 pm ET, Aug. 5, 2003(%)Bank of Canada3.25Canadian Prime4.75U.S. Discount Primary2.00U.S. Prime4.00LIBOR US$ 3-month1.14LIBOR US$ 6-month1.21LIBOR US$ 1-year1.41Gold lease 3-month0.14Go…
2003
Rising rand hits African gold miners
Vancouver — Africa’s biggest gold producers felt the impact of a falling U.S. dollar during the second quarter.AngloGold (AU-N) earned US$66 million in the three months ended June 30, or 11% less tha…
Pele lures De Beers to Wawa (August 11, 2003)
The Canadian exploration arm of De Beers has entered into an option agreement with Toronto-based Pele Mountain Resources (GEM-V) at the latter’s 100-sq.-km Festival diamond property, 25 km north of Wa…
Letting in some light
“Sunshine is the best disinfectant.”– James Gallagher, first president of the Canadian Trading and Quotation System, in late 2001.This newspaper was one of those voices that bayed loudest for tight r…
Norilsk seeks larger Stillwater holding
Russian nickel giant Norilsk Nickel (NILSY-O) has announced an offer for another 4.3 million shares of palladium-platinum producer Stillwater Mining (SWC-N).The bid, which expires Aug. 19, allows mino…
Gold Fields doubles Radius stake (August 11, 2003)
Vancouver — South African-based Gold Fields (GFI-N) now holds a 12.9% stake in junior Radius Explorations (RDU-V).The major, which currently lays claim to 3.6 million shares of the Simon Ridgway-led …
Odyssey renews Altintepe drilling (August 11, 2003)
Odyssey Resources (ODX-V) has resumed drilling at the Altintepe gold project in north-central Turkey.The current work is focused on the Seyliktepe and Karakis areas, where 500-700 metres are planned. …
Gov’t proposes deep-freeze at Giant
After 10 years of engineering studies, the federal government has proposed freezing 237,000 tonnes of arsenic sitting in numerous underground chambers at the former Giant gold mine, near Yellowknife, …
Aquiline sums up Calcatreu
With the final drill results now in hand, Aquiline Resources (AQI-V) has begun an independent resource estimate of the Calcatreu gold project in Argentina.The study, which will incorporate historic an…
Producer and Dealer Prices (August 11, 2003)
Antimony: Mid-mkt US$2,300/t.Bismuth: Mid-mkt US$3.00/lb.Cadmium: Mid-mkt US$0.70/lb.Cobalt: Recent trades US$9.95-10.30/lb.Copper: Comex Sept. US$0.8085/lb.Indium: Indium Corp., ingot, US$180/kg.Irid…
Richmont buys into Patricia
Small gold producer Richmont Mines (RIC-T) is investing $1 million in Toronto-based junior Patricia Mining (PAT-V) in order to help the latter advance its wholly owned Island Gold project, near Wawa, …
Daily Metal Prices (August 11, 2003)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateAug. 5Aug. 4Aug. 1July 31July 30Al Alloy1365/1370…