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Gold/Mining/Energy : Donner Minerals (DML.V) -- Ignore unavailable to you. Want to Upgrade?

To: David Leadbetter who wrote (6212)	7/22/1998 8:34:00 AM
From: Buckey	Respond to of 11676

Teck Corp - Globe says second quarter profit drops 80% Teck Corp TEK.BShares issued 92,439,7391998-07-21 close $15.9Wednesday Jul 22 1998The Globe and Mail reports in its Wednesday, July 22, 1998 edition that Teck's profit dropped 80 per cent in its second quarter. The Globe's Chad Skelton writes that for the three months ended June 30, Teck posted a profit of $3.1-million, compared with $15-million in the same year ago period. Revenue was $177-million, up from $166.5-million. Teck's president and CEO Norman Keevil said the drop was almost entirely caused by poor metals prices. In fact, increased gold production, to 112,000 ounces for the quarter, compared with 77,000 last year, means profit would have actually improved if gold and copper prices had not dropped at the same time. Increased production was largely the result of Teck's acquisition of the Tarmoola gold mine in Australia, said Mr. Keevil. The average London gold price was $298 (U.S.) an ounce in the second quarter this year, compared with $343 a year earlier. Gold's price decline was made less painful because the U.S. dollar's value increased an average of $1.44 (Canadian) in the first six months of 1998, compared with $1.37 a year earlier.