Exchange Rates (August 18, 2003)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateAug. 12Aug. 11Aug. 8Aug. 7Aug. 6US$ in C$1.38521.38351.39351.3932…
2003
Sur eyes gold in Phillipines
Hoping to outline a bulk-minable gold deposit, Sur American Gold (SUR-V) is sampling a large epithermal system in the Eastern Mindanao mineral belt of the Philippines.Batoto sits at the southern end o…
Rio Narcea gets green light for Aguablanca (August 18, 2003)
The Spanish government has granted a mineral licence to Rio Narcea Gold Mines (RNG-T) to exploit the Aguablanca nickel sulphide deposit, northwest of Seville.The decision follows Rio’s submission of a…
Junior exchange moves up with bullion
Vancouver — Canada’s junior exchange ended the trading week Aug. 6-12 on an up-note as the price of bullion moved higher. The S&P-TSX Venture Exchange composite index gained 12.13 points, or 1% of va…
The Northern Miner Indices (August 18, 2003)
North American Mining: 83.43 (+2.31)Small Producers: 86.36 (+3.91)(Sept. 30/98 = 100)…
Agnico-Eagle buys Bousquet assets (August 18, 2003)
Agnico-Eagle Mines (AGE-T) is buying a 100% interest in Barrick Gold’s (ABX-T) Bousquet gold property, situated immediately west and south of the former’s LaRonde gold mine in northwestern Quebec.Incl…
Rock Creek shaping up for NovaGold (August 18, 2003)
Vancouver — NovaGold Resources (NRI-T) has tabled a positive scoping study of the Rock Creek project, near Nome, Alaska.Early this year, NovaGold accelerated its evaluation of the project after Place…
Dynatec, Phelps Dodge to try Madagascar laterite bet (August 18, 2003)
Mining-contractor-turned-miner Dynatec (DY-T) has taken an option to earn a 53% interest in the Ambatovy nickel laterite project in Madagascar from Phelps Dodge (PD-N).Dynatec, which absorbed the tech…
Financings the fashion on TSX
The Toronto Stock Exchange composite index regained lost ground, and then some, ending the Aug. 6-12 report period 214.96 points higher at 7,354.02.The surge was powered by gold, which jumped US$8.10 …
Silver price hits high in July
In late July, the silver price closed at US$5.19 per oz. on New York’s Commodities Exchange (Comex) — the highest spot price recorded in more than three years.The significant increase reflects a posi…
Goldbrook expands in Ungava region
Vancouver — Junior Goldbrook Ventures (GBK-V) has added ground to its promising portfolio of projects in the Ungava region of Quebec.The Michael Magrum-led company inked two deals, one with Inlet Res…
Gold Fields takes out Arctic Platinum (August 18, 2003)
Vancouver — South Africa’s second-largest gold producer has acquired Outokumpu’s 49% stake in the Arctic platinum project in northern Finland.Gold Fields (GFI-N), which already owns 51% of the projec…