Alcan attempts takeover of Pechiney
Looking to cut costs and entrench itself in the aerospace supply industry, Montreal-based aluminum giant Alcan (AL-T) is taking another run at French rival Pechiney (PY-N) via a cash-and-stock offer t…
2003
Placer Dome gains East African Gold Mines
Placer Dome (PDG-T) has inked share purchase agreements to acquire 98% of privately owned Australian-based East African Gold Mines, thereby securing that company’s cornerstone operation, the North Mar…
Cassidy Gold proves up Guinean deposit
Vancouver — A 6-hole drilling program by Kamloops, B.C.-based Cassidy Gold (CDY-V) has returned promising grades from the Kouroussa property in Guinea, West Africa.The project is 570 km east of the c…
Exchange Rates (July 14, 2003)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateJuly 8July 7July 4July 3July 2US$ in C$1.36911.34841.34091.3365…
Editorial Cartoon (July 14, 2003)
Producer and Dealer Prices (July 14, 2003)
Antimony: Mid-mkt US$2,380/t.Bismuth: Mid-mkt US$2.90/lb.Cadmium: Mid-mkt US$0.70/lb.Cobalt: Recent trades US$10.15-11.00/lb.Copper: Comex Sept. US$0.7685/lb.Indium: Indium Corp., ingot, US$140/kg.Iri…
Good widths at Morro do Vento
The first three holes drilled by Desert Sun Mining (DSM-T) at the Morro do Vento prospect in the Jacobina area of Bahia state, Brazil, have intersected multiple zones of gold mineralization.Desert Sun…
Gold: Q1 supply and demand
Supply of gold rose by just over 4%, year over year, in the first quarter of 2003, mainly as a result of a sharp increase in scrap supply. In contrast, mine production was essentially flat, while offi…
That giant hissing sound
It is generally acknowledged that, among government employees, drill sergeants and central bankers have the greatest gift for speaking clearly and to effect.Thus, when the Federal Open Market Committe…
The Northern Miner Indices (July 14, 2003)
North American Mining: 73.79 (-0.33)Small Producers: 73.12 (+2.20)(Sept. 30/98 = 100)…
Lower profits for Alcoa
Despite continued weak aluminum demand, especially in the aerospace and automotive sectors, Alcoa, the world’s largest aluminum producer, posted a surprisingly strong second-quarter net income of US$2…
Dunsmuir expands Nanuq holdings
Dunsmuir Ventures (DVV-V) has expanded in Canada’s far north by staking 2,533 sq. km immediately contiguous to its Nanuq project, 250 km northeast of Rankin Inlet in Nunavut.This new extensive souther…