NEWS ROUNDUP — Hughes Lang merger completed
An amalgamation involving Hughes Lang has been carried out. The Vancouver-listed company has merged with three Toronto-listed juniors: Orofino Resources, Nova-Cogesco Resources and Equity Reserve. The…
News
ODDS’N’SODS — The great diamond fraud of 1872 (1)
(The following 3-part story is compiled from contemporary accounts in the “Engineering and Mining Journal” and the “San Francisco Daily Evening Bulletin.”) It was 1870. The U.S. Civil War had been ove…
TSE INDICES (February 21, 1994)
— 1994 — Feb 15 Feb 14 Feb 11 Feb 10 Feb 9 High Low Composite”300″ 4414.44 4395.20 4405.60 4441.97 4463.17 4601.09 4286.54 Metals&Minerals 3632.31 3589.38 3609.36 3720.86 3802.10 3855.09 3495.59 In…
Review of Cinola planned by city
New management at City Resources (TSE) has decided that a previous feasibility study of the Cinola gold project is worth a second look. To that end, Chairman Ray Soper and President Robin Slaughter ha…
NEWS ROUNDUP — Giant Bay drops Montanore
Unable to meet certain conditions of a merger agreement with Montana Reserves, Giant Bay Resources (TSE) has opted to pull out. Montana Reserves holds a 5% net proceeds royalty on the Montanore copper…
Richmont buys stake in Louvem
Richmont Mines (ME) is expanding its presence in la belle province by acquiring an interest in Louvem Mines’ (TSE) properties near Val d’Or. The company bought 8 million common shares in Louvem from S…
Darnley Bay explores anomaly
Privately owned Darnley Bay Resources plans to raise $7 million to explore a coincident magnetitic and gravity anomaly on Darnley Bay, N.W.T. The anomaly is 70 km in diameter and was likely caused by …
PRODUCER PRICES (February 21, 1994)
ALUMINUM: MW U.S. market US59.50-62.00 cents per lb. (Feb. 3, 1994). ANTIMONY: MW New York dealer US76-80 cents per lb. (June 10, 1993). BISMUTH: MW New York dealer US$2.35-2.65 per lb. (Sept. 23, 199…
Record monthly trading by ME
The Montreal Exchange set a monthly record in January when $3.8 billion worth of shares changed hands. The general market portfolio index set a new daily record Jan. 19, which was eclipsed Feb. 1 when…
STOCK MARKETS — Golds stay afloat as bullion prices rise
Gold bullion prices rose US$3.35 to close at US$383.60 per oz. at the end of our report week. The Toronto Stock Exchange gold and silver index fell slightly to 10,372.40 from 10,497.00. Most of the ma…
STOCK MARKETS — Despite pre-budget jitters, western markets
Trading activity remained relatively steady on western markets over the week, despite nagging uncertainty about interest rates and the fate of the looney. Adding to the unease was speculation about a …
Weak prices hurt Noranda
Weak metals prices and production cutbacks took their toll on Noranda (TSE), which lost $37 million in 1993, compared with net earnings of $79 million in the previous year. Earnings from mining and me…