Metanor finds the sweet spot
Make a wrong turn while driving along the streets of one of Canada’s great mining towns, and you may feel like you’ve gone through a portal into the past.
Volume 98 Number 49 Jan 21 - 27, 2013
Alamos goes hostile on Aurizon
After pursuing Quebec-focused Aurizon Mines (ARZ-T, AZK-X) for years, Alamos Gold (AGI-T) has finally gone hostile, announcing a $780-million, cash-and-share bid for the junior gold miner.
Harry Winston sells jewellery arm to Swatch for $1 billion
Eight years after getting into the jewellery sector Harry Winston Diamond (HW-T) is locking in its gains and getting out, selling its luxury retail unit to Switzerland’s Swatch Group in a $1-billion deal.
Commentary: Is iron ore rally overdone?
Spot prices for iron ore fines delivered to China touched a three-year low of US$87 per tonne in September 2012, before rebounding to US$119 per tonne in December and to the US$158- to US$160-per-tonne level of recent days. The question is:…
Market news: Toronto Stock Exchange
During the trading week the S&P/TSX Composite Index rose 0.5%, or 61 points, to close at 12,602.18.
Market news: TSX Venture Exchange
The S&P/TSX Venture Composite Index posted its second consecutive gain during the trading period, rising 0.98% to 1,240.25 points for a 12.02-point weekly jump.
Market news: U.S. Markets
U.S. equities remained resilient in the wake of the Jan. 2 settlement of the fiscal cliff debate, but the rally slowed slightly ahead of earnings season. The Dow Jones Industrial Average gained 0.4% to close at 13,488.43, while the S&P 500…
Metals, mining and money markets
Spot prices
ARMZ’s $1.3B offer for Uranium One too low, analysts say
Uranium One (UUU-T) shareholders should “demand higher compensation” from majority owner ARMZ, which is bidding $1.3 billion to take the company private, one analyst says.
Correction
In the article “First Majestic buying Orko Silver for La Preciosa” (TNM, Dec. 26/12), there was an error in the silver grade for the La Preciosa resource estimate. It was quoted as 1.04 grams silver per tonne but should have read…
Alderon on track for iron ore production at Kami
Vancouver-based Alderon Iron Ore (ADV-T, AXX-X) has passed another milestone in a quest to put its Kamistiatusset (Kami) iron ore project in western Labrador into production by the end of 2015. On Jan. 9, the company announced the results of a…
Editorial: Buh-bye Hollywood, visit me in Yellowknife
Canada’s brief but glamorous affair with one of the world’s great ultra-luxury brands came to a swift end in the new year, with Harry Winston Diamond striking a deal to sell its famed retail diamond jewellery and timepiece division…