Agnico to futher explore Quebec gold mine
Article Abstract:
Agnico-Eagles Mines Ltd. has made public that it will further explore its LaRonde gold mine in western Quebec in Canada. Agnico-Eagles, which had C$209 million in cash and gold deposit on Mar. 31, 1998, estimates that gold resources at LaRonde will go beyond 4.2 million ounces. The firm, equipped with a four-year capital spending program, is anticipating to boost its gold production capacity from 154,500 ounces to 225,000 ounces annually by the year 2001, as well as to decrease its cash cost production from C$214 to C$125 per ounce.
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Will further explore its LaRonde gold mine in western Quebec in Canada
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1998
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Gold miners surviving but struggles loom
Article Abstract:
The price of gold which hovers around $275.5 per oz is near to its 20-year low. However, major mining companies were able to soften the impact by adopting diligent cost cutting programs. The worldwide average cash cost of gold production has dropped by $62 or 23% to $206 an ounce. Only 2% of gold producers lost money in 1998 on cash basis. However, cash cost does not include depreciation of assets which if included in the calculation would boost the average total cost of production to around $261 per oz.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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Court gives Royal Oak one more week
Article Abstract:
Royal Oak Mines Inc. will receive a cash infusion from its principal creditor that would allow it to operate for one week and draw up a financial restructuring plan. Trilon Financial Corp., which will provide the copper and gold mining company with C$2.1 million-$3.5 million, has earlier infused C$8.4 million into Royal Oak in Feb 1999. Royal Oak is burdened with a debt of C$600 million and has only $400,000 left from Trilon's initial cash infusion.
Publication Name: Globe & Mail (Toronto, Canada)
Subject: News, opinion and commentary
ISSN: 0319-0714
Year: 1999
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