Metal Prices — Daily Metal Prices (June 23, 1997)
BASE METALS (London Metal Exchange – Midday bid/ask prices in US$ per tonne)DateJune 17June 16June 13June 12J…
News
Taurus uncovers Panamanian porphyry
Seven of nine holes drilled at the Ipeti concession in Panama have intersected low grades of gold and copper mineralization.International Taurus Resources (ITS-V) says the results indicate the presenc…
Newmex plans merger with Santa Cruz
Subject to shareholder and other approvals, Santa Cruz Gold (SCG-T) and Newmex Mining (MEX-T) will amalgamate to form a new company to carry on business as Santa Cruz Gold.The proposed transaction cal…
Toronto Stock Exchange Indices (June 23, 1997)
1997June 17June 16June 13June 12June 11HighLowCom…
SPOT PRICES (June 23, 1997)
Wednesday, June 18, 1997Price (US)Week’s ChangeGold*$342.05+ $1.65Silver*$ 4.80…
Nu-Lite reworks private placement
Slow markets have caused Nu-Lite Industries (NLE-V) to re-price a private placement.Unable to complete a 2.2-Million unit private placement at $3 each, the junior has arranged with investors to repric…
BASE METALS — Exploration heats up in Northwest Territories
Results from a third phase of drilling on the Bowl Zone prospect near Mazenod Lake, about 160 km northwest of Yellowknife, N.W.T., indicate that mineralization continues to the east.Owner Fortune Mine…
STOCK MARKETS — Broad market rises as golds and base metals tumble — Platinum falls back to earth as Noril’sk threat is abated
The bulls were riding high, as the Toronto Stock Exchange 300 composite index rose 59.30 points to close the report period ended June 17 at 6,532.34.On June 13 the index hit 6,550.61 points, yet anoth…
PNG mines hurt by prolonged drought
Drought in the highlands of Papua New Guinea (PNG) is hampering mine operations there.At the Porgera gold mine, 50% owned by Placer Dome (PDG-N), mill operations were suspended June 1 owing to low wat…
Amax buys Russian gold mine
Amax Gold (AU-N) has bought a half interest in the Kubaka gold mine in far eastern Russia from Cyprus Amax Minerals (CYM-N).To complete the transaction, Amax issued 11.8 million shares of common stock…
BASE METALS — Cambior anticipates green light for Carlota project — Company spends five years and US$52 million preparing for production
After considerable delays, Montreal-based Cambior (CBJ-T) expects to receive environmental permits for its Carlota copper project in east-Central Arizona.The company has spent five years and US$52 mil…
Activity heats up in Burkina Faso — Juniors busy exploring, Poura mine gets new lease on life
Exploration results from several work programs are confirming the gold potential of Burkina Faso and, at the same time, adding impetus to efforts to revive the dormant Poura gold mine in the West Afri…