Metal Prices FREE MARKET London Metal Exchange (February 27, 1989)
Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Feb 21 Feb 20 Feb 17 Feb 16 Feb 15 Copper 1728-1730 1693-1695 1650.5-1652.5 1665-…
Articles by Northern Miner Staff
Mountain West Elkhorn reserve
Mountain West Resources (VSE) has calculated a new geological reserve for its Elkhorn property in Montana. The new reserve study indicates some 786,000 tons averaging 0.1 oz gold or 530,000 tons gradi…
Corona/Golden Nevada drilling near Nickel Plate mine
In a push to increase and find new reserves to eventually feed its mill near Hedley B.C., Corona Corp. (TSE) is currently operating five diamond drill rigs on a number of properties near its producing…
Pegasus earnings reflect higher gold production
A 24% increase in gold production boosted the net earnings of Pegasus Gold (TSE) to $17.8 million(US) or 75 cents per share in 1988. These results compare with a $14.5 million profit or 70 cents a s…
Deak Res. set to acquire old MacDonald zinc mine
Deak International Resources, a subsidiary of the New York metals trader Deak International Inc., is close to acquiring Noranda Inc.’s (TSE) 51% stake in the former West MacDonald zinc mine in Quebec….
Jerome sampling is encouraging
Initial chip sample results from the underground drift faces on the South zone at the 500-ft level of the Jerome project in northern Ontario averaged 0.28 oz gold per ton, across an average width of 5…
Metal Prices PRODUCER PRICES (February 27, 1989)
ALUMINUM: MW U.S. Market 97 cents – $1.00(US) per lb. (Feb 16, 1989). ANTIMONY: New York dealer $1.00- $1.03(US) per lb. (Jan 19, 1989). BISMUTH: New York dealer $6.40-$6.60(US) per lb (Feb 16, 1989)….
DRX plans bid for Aussie gold miner
New York-based DRX Inc. says it is planning a takeover bid for Australian gold miner Mount Burgess Gold Mining Co. DRX holds about 1.9 million shares or 7% of Mount Burgess common shares and it intend…
Higher metal prices buoy commodity index
A 6.2% boost in the metals and minerals sub-index helped the Scotiabank record a 3.1% increase in its all-commodity price index in December, for the third straight month.
INSIDER TRADES (February 27, 1989)
Amer Ore — R. Fraleigh bought 50,000 (Dec, Jan) @ 20 cents to hold 68,000 and bought 6,000 (Jan) @ 32-33 cents to hold 28,000 indirectly. Ansell Lake — S. Mourin sold 301,000 (June, July) @ 65 cent…
Ground control in mining
Ground control in mining is a conference series established to improve the exchange of information among researchers, consultants, manufacturers, and operators in the mining industry and profession. P…
earnings Reports
Malartic Hygrade (TSE) reports net earnings for the year ended Dec 31 of $743,430 or 20 cents on revenue of $1.41 million. For the same period a year earlier the company reported net earnings of $2 m…