BHP boosts profit
Vancouver – Despite a drop in sales, Australia-based BHP Billiton (BHP-N) saw profits rise to US$1.9 billion, or US…
2003
Pechiney snubs Alcan sweetener (September 02, 2003)
Alcan (AL-T) has taken a sweetened takeover bid for Pechiney off the table after the French rival roundly rejected…
LME Warehouse Levels (September 01, 2003)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at opening, Aug. 26 (change from Aug. 19 in brackets):MetalStock(tonnes)ChangeAluminium1336700(+1…
Glencairn targets flow-through financing
Vancouver — Glencairn Gold (GLJ-V) intends to raise $1.6 million via a placement of 3.6 million flow-through warrants priced at 45 each.Each special warrant is exercisable, at no cost, into one flow…
Alcan submits formal bid for Pechiney
Alcan (al-t) has submitted its 3.4-billion-euro bid for French rival Pechiney to the European Commission. The Montreal-based aluminum giant had launched its hostile bid in early July but held off form…
Site visit: How do they do it? Volume, volume, volume
Chibougamau, Que. — When Franois Fleury, the general manager of the Troilus gold mine, praised the “ingenuity and tenacity” of the Troilus workforce, he had good reason to mean it. The mine, two hou…
The value of Canadian mining
Despite significant growth in the Canadian economy over the past 20 years, the Canadian mining industry’s contribution to the gross domestic product has remained relatively stable within a range of 3….
Gammon to expand Northeast Ocampo
Dartmouth, N.S.-based Gammon Lake Resources (GAM-T) has launched a 65,000-metre drill campaign on its Northeast Ocampo gold-silver property in Mexico.The drilling is designed to expand and upgrade the…
Spot Prices Wednesday August 27, 2003 Courtesy of Scotiabank
Precious MetalsPrice (US$/oz.)ChangeGold$364.30+2.10Silver$5.000.00Platinum$696.00-8.00Pa…
Exchange Rates (September 01, 2003)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateAug. 26Aug. 25Aug. 22Aug. 21Aug. 20US$ in C$1.39021.39791.40991.4…
NAP sizes up Lac des les underground (September 01, 2003)
North American Palladium (PDL-T) will launch a full feasibility study of a proposed underground mining operation targeting the Main High Grade zone at its Lac des Iles palladium-platinum mine, 85 km n…
Freeport reduces debt
Freeport-McMoRan Copper & Gold was the biggest newsmaker south of the border during the report period ended Aug. 26, as it announced it had converted US$311 million worth of notes into 21.8 million sh…