Evening news:
1) Cawse: Centaur to no longer pursue merger of 3 exploration companies into Centaur. Stock goes up 8 c to 28.5 and leads volume in Sydney.
Centaur says Cawse produced 329 tonnes of Ni and 77 tonnes of cobalt in sulphide in August.
Average cash operation costs were low at 55 US cents a pound of nickel after coblat credits.
Centaur also reported that the project was cashflow positive for the first time in August with revenue exceeding cash operating costs before capital works, sustaining capital and exploration. [draw your own conclusions boys]
Centaur said that situation reflected the improved availability of the project's autoclave. Centaur said the improved performance from the autoclave was due to an 8.7 mil project enhancement capital program, improved equipment availablity and the achievement of steady state operation conditions.
2. Russia: 4 miners die at Norilsk, 4 others injured in equipment repair shop explosion.
3. Cobalt: WMC has ten tonnes they can't sell. Price has gone from 19.50 to 17.45 in two weeks and no takers.
4. CMR: audited financial statement 3/31/99:
a) as of 3/31 there were 4,039,000 common shares reserved for exercise of stock options. Strike .60 to 2.80, expire up to 6/2003
as of 3/31, 6,405,778 warrants ranging from .50 to 2.10 up to 1/2001
b) subsequent to year end, a private placement of 157,000 special warrants at $5 per special warrant, consisting of one regular common share, nine flow through common shares and ten common share purchase warrants, exercisable into 1 common share at .50 was completed.
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