SPOT PRICES (August 31, 1998)
Wednesday Aug. 26, 1998Price (US)Week’S ChangeGold*$282.50-$3.25Silver*$ 4.97…
Articles by Northern Miner Staff
Omai lawsuit dismissed
A class action suit brought against Cambior (CBJ-T) over the failure of the tailings dam at its Omai gold mine has been dismissed by the Superior Court of Quebec.The suit, brought by the advocacy grou…
SUPPLIERS NEWS ROUNDUP — SGI, Mitsubishi form partnership
SGI International and Mitsubishi have signed an agreement to develop a joint-venture company specializing in the conversion of low-grade coal to oil and gas.The deal hinges on the further development …
Battle Mountain battles low gold prices
Despite considerable progress in cutting production costs, Battle Mountain Gold (BMG-N) posted a net loss of US$11.1 million (or 5 cents per share) for the quarter ended June 30.The loss, which includ…
Revenue, profits down for royalty sisters
The money kept rolling in for both Franco-Nevada Mining (FN-T) and Euro-Nevada Mining (EN-T) during the last fiscal quarter, though the low gold price did take a bite out of both companies’ bottom lin…
Russian diamond output stalls as new projects proposed
The Yakutia region of northeastern Russia produced cut and polished diamonds worth US$20 million in the first half of 1998.As a result of a shortage of rough diamonds, Tuimaada Diamond, the region’s l…
Luscar extends Manalta buyout offer — Manalta takes loan in hopes of keeping unit-holders on side
Luscar Coal Income Fund has revised its original offer to unit-holders of Manalta Coal Income Trust in its bid to take over Canada’s largest coal producer.Luscar has extended its offer to Aug. 28 and …
MINING MARKET & INVESTMENT NEWS — INSIDER TRADING — Fund expands holding in DiamondWorks
Roberston Stephens Investment Management, a large fund with numerous mining and mineral exploration interests, has increased its holdings in DiamondWorks (DMW-V). The fund, which is required to report…
MINING MARKET & INVESTMENT NEWS — NEW LISTINGS — Newly listed Pickle Crow sets sights on past producer
Vancouver-based Pickle Crow Resources (PKL-A) is now listed on the Alberta Stock Exchange, having picked up $700,000 by way of an initial public offering of 2 million shares at 35 cents each.The compa…
GREATEST VALUE TRADED (August 24, 1998)
ExchgVal($000s)HighLowCloseChangeNoranda IncT1239…
MOST ACTIVE ISSUES (August 24, 1998)
ExchgVolume(000s)HighLowCloseChangeNoranda IncT60…
MINING MARKET & INVESTMENT NEWS — EASTERN MARKETS — Eastern markets rebound from previous week’s slump
The markets enjoyed a rebound during the Aug. 12-18 report period, with the Toronto Stock Exchange 300 composite index regaining more than half of the previous week’s losses, climbing 3.2% to 6,517.68…