Maracote dumps Halley
Following lacklustre drill results, Maracote International Resources (MCE-V) has dropped its option to acquire an interest in the Halley gold-silver property in south-central Peru.Assay results from t…
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EDITORIAL & OPINION — A one-of-a-kind alluvial deposit? — Mining for miracles
A century ago, the poet Robert Service observed that there are “strange things done in the midnight sun by the men who moil for gold.” Had he met the boys from Busang, he could have added a few new st…
METAL PRICES (August 16, 1999)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateAug. 10Aug. 9Aug. 6Aug. 5…
Ashanti lays off at Obuasi
Falling gold prices have forced Ashanti Goldfields (ASL-N) to lay off more than 2,000 workers at the Obuasi mine in southwestern Ghana.The move is designed to save the company US$7 million annually, l…
LME WHSE LEVELS (August 16, 1999)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Aug. 10/99 (change from Aug. 3 in brackets):MetalStocks(tonnes)Change…
TSE INDICES (August 16, 1999)
1999Aug. 10Aug. 9Aug. 6Aug. 5Aug. 4HighLowComposi…
PRODUCER & DEALER PRICES (August 16, 1999)
Antimony: Mid-mkt US$1,195/t.Bismuth: Mid-mkt US$3.60/lb.Cadmium: Mid-mkt US$0.20/lb.Chromium: Recent trades US$60.00-90.00/t.Cobalt: Recent trades US$18.90-20.20/lb.Copper: Comex Sept. US$0.7675/lb.I…
Osisko, Virginia test showings at Payne Bay
Osisko Exploration (OSK-M) and Virginia Gold Mines (VIA-M) have completed a prospecting program aimed at identifying nickel targets at the Payne Bay property, near Ungava Bay in Quebec.The partners fo…
TSE SHORTS (August 16, 1999)
Short positions outstanding at July 31, 1999Larger individual positions include:Abitibi Consolidated 1,424,086, down 387,888; Alcan Aluminium 924,250, down 203,256; Armada Gold 150,000; Barrick Gold 6…
Tighter market squeezes PCS
Declining fertilizer demand and increased domestic competition took a bite out of Potash Corp. of Saskatchewan’s (POT-T) bottom line during the second quarter.For the quarter ended June 30, Potash Cor…
MINING MARKETS & INVESTMENT NEWS — U.S. MARKETS — Improving metals help producers
The Dow Jones industrial average slipped 22.16 points, or 0.2%, to finish the report period Aug. 4-11 at 10,655.15.Mining issues inched upward on improving commodity prices. Gold was up to US$258.70 p…
MINING MARKETS & INVESTMENT NEWS — EASTERN MARKETS — Rising prices keep nickel miners buoyant
Nickel continued to lead the revived base metal market during the Aug. 4-10 report period, with prices climbing 12 cents to US$2.91 per lb. thanks to a combination of growing demand, shrinking stocks …