Spot prices at a glance (February 07, 1994)
Week’s Price (US) Change Gold* $384.95 + $3.95 Silver* $ 5.28 + $0.20 Platinum* $392.00 + $11.40 Nickel** $ 2.68 + $0.09 Lead** $ 0.23 $0.00 Copper $ 0.86 + $0.03 Zinc $ 0.46 + $0.01 Courtesy of Scoti…
News
STOCK MARKETS — Yellow metal holds firm as resource index
The tug-of-war between gold sellers and buyers ended the week with the yellow metal holding firm above the US$380-per-oz. level, and even edging up a few dollars to US$384. That helped push the Vancou…
Toronto Stock Exchange Indices (February 07, 1994)
— 1994 — Feb 1 Jan 31 Jan 28 Jan 27 Jan 26 High Low Composite”300″ 4591.28 4554.85 4492.21 4467.35 4460.26 4591.64 4286.54 Metals&Minerals 3824.93 3807.82 3699.26 3676.73 3658.31 3855.09 3495.59 Int…
Kinross Gold to issue warrants
Three investment dealer firms have agreed to acquire six million Kinross Gold (TSE) warrants at $4.25 each for aggregate proceeds of $25.5 million. The warrants are convertible into an equal number of…
LAST BUT NOT LEAST — Gold reserves rise in South Africa
South Africa’s gold and foreign currency reserves rose by 28.9% from November to December, 1993. Figures released in Pretoria by the Reserve (central) Bank show December’s total was 9.1 billion rand (…
Global Stone completes offering
Following regulatory approval of its special warrant prospectus, Global Stone (TSE) has received, from escrow, $28.8 million from the sale of 6.3 million special warrants. About $10 million from the o…
Aurora secures mine financing
Australian mining firm Aurora Gold has secured US$45 million in funding for its gold and silver project in Kalimantan, on the Indonesian island of Borneo. Rothschild Australia, NM Rothschild & Sons an…
IGR options Ghana concession
CDN-listed International Gold Resources (IGR) has entered an option agreement with Adjumadium Mining to acquire a 51% participating interest in a 50-sq.-mile concession in Ghana, West Africa. The agre…
True potential of Cominco’s Red Dog nears realization
It was enough to make even the most skeptical base metal investor salivate: an open-pit deposit containing 85 million tons grading 17.1% zinc, 5% lead and 2.4 oz. silver per ton at a strip ratio of le…
NEWS IN BRIEF — Abacus looks for stratabound gold
Abacus Minerals (VSE) has obtained more trench assay results from its gold property in Brookfield, N.S. Trench 4 uncovered a sample which ran 0.76 grams gold per tonne over 19 metres, including a sect…
METALS COMMENTARY — Stainless steel growth good for nickel
Stainless steel represents at least 60% — and maybe as high as 70% — of nickel consumption, and fairly steady growth seems certain in the near future. Production was up again in 1993, to about 11.4 …
Drill results rejuvenate gold project
A 16,000-ft. drill program by Teck (TSE) is returning attention-grabbing gold values from the Thunder Lake West gold prospect near Dryden, Ont. The first infill hole intersected 0.89 oz. gold per ton …