NEWS ROUNDUP — Black Hawk raises drilling funds
Junior Black Hawk Mining (TSE) has completed a private placement of 1 million flow-through common shares. Proceeds will be $600,000, some of which will finance drilling at the Redstone mine, south of …
Articles by Northern Miner Staff
NEWS ROUNDUP — Patrician hits mineralized horizon
Initial drilling by Patrician Gold Mines (ASE) on its Ikungu Peninsula property in northwestern Tanzania has intersected gold mineralization. Hole 1 intersected the Forest Reef, a thick exhalite horiz…
Cambior takes major writedown at Valdez Creek
Mining operations at the A8 pit of the Valdez Creek placer gold mine in Anchorage, Alaska, indicate the average grade is 30% lower than expected. Consequently, owner Cambior (TSE) has reduced the net …
METALS COMMENTARY — Physical demand buoys metal prices
Supported by steadily improving physical demand, metal prices are bubbling near the highest levels seen in years. Investors continue to believe that shortages and higher prices will inevitably result …
Newmont exercising pre-emptive rights
Denver-based Newmont Gold (NYSE) and a Peruvian-based company intend to take whatever steps may be necessary to pre-empt a proposed transfer of another partner’s interest in the Minera Yanacocha prope…
Metallica defines Cuyuni targets
CDN-listed Metallica Resources is preparing to drill 10 holes on a target outlined at its Cuyuni gold property in Venezuela. The target is one of five that were outlined in a program which recovered 3…
Platinova receives positive results from Greenland
Toronto-based Platinova A/S (TSE) has encountered zinc mineralization at its Peary Land zinc project in northeastern Greenland. Forty-three holes totaling 9,600 metres were drilled at 300-metre centre…
Placer to spend US$35 million at Campbell gold mine
A US$35-million project to deepen the shaft at the Campbell gold mine in Balmertown, Ont., should sustain annual production of 300,000 oz. beyond the year 2000. Beginning in January, owner Placer Dome…
GOLD FUNDS (October 10, 1994)
BGR Central Net Value $18.41 $6.90 Price $16.00 $7.00 Premium 1.4 Discount 13.09% Value $149,568,000 $126,695,100…
METAL PRICES — FREE MARKET (October 10, 1994)
London Metal Exchange Spot closing prices in $US per tonne Date Oct 4 Oct 3 Sept 30 Sept 29 Sept 28 Copper 2507-2508 2471.5-2472.5 2476.5-2477.5 2518-2519 2558.5-2559.5 Lead 628-629 622.5-623.5 620-62…
Asarco plans new mine
New York-listed Asarco plans to develop a high-grade copper mine below its Mission open pit complex in Sahuarita, Ariz. About US$10 million will be spent developing the underground mine, which hosts a…
STOCK MARKETS — Market in retreat as gold price stumbles
A hesitant gold price gave pause to the market during the week ended Oct. 4 and was a definite factor in the Toronto Stock Exchange composite 300 index tumbling more than 98 points, to 4274.26, during…