TORONTO STOCK EXCHANGE INDICES (April 21, 1997)
1997Apr.15Apr.14Apr.11Apr.10Apr.9HighLowComposite…
News
STOCK MARKETS — Juniors take a beating as VSE composite drops for second straight week — Winspear recovers ground following kimberlite intersection in Northwest Territories
Junior mining stocks were battered over the report period ended April 15.The Vancouver Stock Exchange composite index closed down 55.59 points, or 5.06%, to 1,043.44, whereas the resource index fell 1…
Phelps Dodge stays on course during quarter
Despite a slight downturn in copper prices, Phelps Dodge (PD-N) earned a profit in the first quarter.Income amounted to US$137.5 million (or $2.12 per share) on revenue of just over US$1 billion, comp…
Stock mill begins custom milling
The Stock mill near Matheson, Ont., has begun operating again after a suspension of nearly three years.The mill, which is owned and operated by St Andrew Goldfields (SAS-T), recently began milling ore…
Vengold increases interest in Lihir
Vengold (VEN-T) has increased its interest in the Lihir gold project in Papua New Guinea to 7.1% from 5.7%.Under an arrangement with National Provident Fund, one of Papua New Guinea’s leading financia…
Kinross hits gold at Vogel
Kinross Gold (K-T) continues to uncover deep gold intersections at Black Hawk Mining’s (BHK-T) Vogel property near Timmins, Ont.Each of the 13 new holes intersected gold-bearing structures. Results in…
COMMENTARY — A work in progress
The author is the federal minister of natural resources. She has written the following article at the request of Keep Mining In Canada, a grassroots campaign designed to increase awareness of the impo…
TSE SHORT POSITIONS (April 21, 1997)
Short positions outstanding at March 31, 1997Larger individual positions included: Barrick Gold 11,735,236, up 691,564; AJ Perron Gold 376,400; Antares Mining & Expl 101,000, down 114,000; Anvil Range…
Series of rockbursts closes Kinross gold mine in Kirkland Lake
Underground production at the Macassa gold mine in Kirkland Lake, Ont., has been halted following a series of rockbursts.Owner Kinross Gold reports that no employees were injured in the bursts, which …
Long-Term copper consumption to rise
Copper consumption is on the rise worldwide and could top 18 million tonnes by 2010, according to a study released by CRU International, a London-based firm of metals analysts.Use of the metal in cons…
EDITORIAL & OPINION — New task force long overdue — The need for guidelines
The Toronto Stock Exchange and the Ontario Securities Commission are forming a task force to examine the need to set standards for mining and exploration companies. Consideration will be given to how …
Production of most base metals down in January
Canadian production rates of primary nickel, silver, primary zinc, iron ore and salt increased in January 1997 over levels recorded in the same period of the previous year.However, output of gold, cop…