Word: hecla
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...sovereignty of our resources," Venezuela "will not give any more mining concessions to transnationals," and it may even revoke some. The day after that broadside, Crystallex's share price on the Toronto Stock Exchange plummeted 40%, to $1.50. Shares of other firms mining gold in Venezuela, like Idaho-based Hecla, also took hits--especially when Chávez promised to create a competing, state-owned company that would employ the illegal miners. Jonathan Goodman, CEO of Toronto-based mining firm Dundee Precious Metals, told Bloomberg News, "Chávez scares the crap...
...multinationals are counting on it, anyway. Hecla is one firm that seems to have learned how to navigate chavismo. Last year it mined 130,000 oz. of gold in large part by investing $2.2 million in a partnership with about 450 miners, providing them with training, equipment like ventilators and chain saws--and legal status. An additional 140 are being brought in. "If it weren't for [Hecla], we'd still be out there with our picks and shovels getting nowhere," says Mireya Cobarrubia, 42, a mining veteran. Says local Hecla manager José Pino: "It isn't a problem...
...have hardly dented Daschle's popularity back home. In a state with only 530,000 voters, he's used to cultivating his constituents virtually one by one. Last month he passed up commencement addresses at large universities to speak to a graduating class of 12 high school seniors in Hecla, S.D., a tiny town near the North Dakota border--a shrewd political gesture that got him major newspaper play in the state. But Daschle, who has had a beefed-up security detail since Sept. 11, is seething over being targeted by the G.O.P., believing it's partly responsible for threats...
...quiz. Name and locate the following: Hecla, Monrovia, Manitoba and Orinoco. Now for a math problem: If a load of wheat weighs 3,942 lbs., what is the worth at 50? a bushel, deducting 1,050 lbs. for tare? (Hint: a bushel of wheat is 60 lbs. You're on your own for tare...
...companies have also done well. Stocks listed on the red-hot Spokane regional exchange, which deals mainly in mining firms, are up 60% since mid-November. Last Wednesday, an avalanche of buy orders forced the New York Stock Exchange to halt trading for several hours in the shares of Hecla Mining, which since early 1979 has climbed from $5.25 per share...