Kimberlites elude Majescor
After drill-testing 11 geophysical targets at its Portage project in Quebec, Majescor Resources (MAJ-V) reports that no kimberlite was intersected.The company used a reverse-circulation rig to sample …
2003
East Meliadine returns poor diamond results
Some of the shine on the Churchill diamond play in eastern Nunavut has tarnished following the release of microdiamond results from the Meliadine East project: they show that nine of the 11 kimberlite…
Central Gold-Trust closes IPO, buys gold (July 28, 2003)
North America’s first gold- bullion trust, Central Gold-Trust (GTU.UN-T), has raised $46 million and closed its initial public offering.Gold-Trust raised C$40 million by placing 2 million units priced…
Band-Ore tests Thorne anomalies
Drilling by Band-Ore Resources (BAN-T) has returned more anomalous values from the Thorne gold project near Timmins, Ont.The Burlington-based junior recently sank 12 holes to follow up on an earlier c…
Grasberg gold boosts Freeport
Vancouver — The second quarter of 2003 was a stellar one for Freeport-McMoRan Copper & Gold (FCX-N), which earned US$57.4 million (or US37 per share) in the three months ended June 30.The figure mar…
Amerigo closes Chilean copper deal
Vancouver-based junior Amerigo Resources (ARG-V) has acquired Chilean copper producer Minera Valle Central (MVC) for US$20 million.Amerigo paid US$16.6 million on closing; the balance is due in 3-5 ye…
Lassonde to head Quebec conference
Pierre Lassonde, president of Newmont Mining and arguably the most successful Quebec native in the gold industry, will be the honourary president of the inaugural Quebec Exploration 2003 conference, t…
Daily Metal Prices (July 28, 2003)
BASE METALS (London Metal Exchange — Midday official cash/3-month prices, US$ per tonne)DateJuly 22July 21July 18July 17July 16Al Alloy1352/136…
Canadian Stock Exchange Indices (July 28, 2003)
DateJuly 22July 21July 18July 17July 16HighLowTSX Composite7185.18…
Rio Tinto, BP unload Kaltim
The biggest deal of the period was the proposed sale by Rio Tinto and BP of their 50-50 Indonesian joint venture, PT Kaltim Prima Coal, to Jakarta-listed Bumi Resources for US$500 million in cash and …
Suppliers Roundup (July 28, 2003)
Aussie miner buys concentratorGiants Reef Mining, based in Western Australia, has purchased a Knelson concentrator built by Australian engineering firm ConSep, under licence by Langley, B.C.-based Kne…
Noranda faces pension suit
A class action suit against Toronto-based Noranda will proceed after a Quebec Superior Court authorized legal action in a disagreement over interpretations of the company’s pension plan.Montreal law f…