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Gold/Mining/Energy : Gold Price Monitor

GDXJ 106.75

-0.5%

Dec 3 4:00 PM EST

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To: goldsheet who wrote (63708)	2/14/2001 2:31:48 PM
From: long-gone	Read Replies (1) of 116791

Wednesday February 14, 11:19 am Eastern Time McWatters Mining halts production at Sigma-Lamaque MONTREAL, Feb 14 (Reuters) - McWatters Mining Inc. (Toronto:MCW.TO - news), feeling the pinch of a slumping gold price, said on Wednesday that it will cease operations at its Sigma-Lamaque complex in Quebec for an indeterminate period. The Canadian gold miner said in a release that the closure will result in the temporary layoff of about 120 employees at the complex. It also said it will continue its operations at its Kiena complex in Quebec for a period of approximately three months, at which time such operations will be reviewed. The company said that to continue operations it requires additional capital to complete expansion of Sigma-Lamaque. It said it is ``pursuing various avenues to raise the required capital.'' ($1 equals $1.52 Canadian) biz.yahoo.com

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