Newmont Gold
Gold producer Newmont Gold (NYSE) sold 1.7 million oz. in 1993, up from 1.6 million oz. the previous year. The Denver, Colo.-based company received an average price of U$361 per oz. last year, compare…
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PRODUCER PRICES (February 14, 1994)
ALUMINUM: MW U.S. market US57.50-59.50 cents per lb. (Jan. 27, 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, 19…
HudBay options B.C. properties
The exploration division of Hudson Bay Mining & Smelting (TSE) is set to begin work on two newly optioned properties in southeastern British Columbia. The main target is stratabound, copper-silver min…
Rio Algom raises $180 million
After announcing it would sell 7 million units at $22.50 each, Rio Algom (TSE) added another million shares at the same price. Gross proceeds are expected to be $180 million. Each unit will consist of…
Spot prices at a glance (February 14, 1994)
Week’s Price (US) Change Gold* $380.25 – $4.70 Silver* $ 5.25 – $0.03 Platinum* $389.50 – $2.50 Nickel** $ 2.60 – $0.08 Lead** $ 0.22 – $0.01 Copper $ 0.84 – $0.02 Zinc $ 0.44 – $0.02 Courtesy of Scot…
Toronto Stock Exchange Indices (February 14, 1994)
— 1994 — Feb 8 Feb 7 Feb 4 Feb 3 Feb 2 High Low Composite”300″ 4452.18 4448.71 4447.19 4560.28 4573.43 4601.09 4286.54 Metals&Minerals 3805.59 3760.44 3703.35 3795.05 3820.54 3855.09 3495.59 Integra…
STOCK MARKETS — Interest-rate hike hits market; gold in
The Toronto Stock Exchange surpassed another record during our report week when 106 million shares worth $1.27 billion changed hands on Feb. 2. Such enormous volumes, however, were overshadowed by a m…
Dome, Detour expansions approved
Expansion plans have been approved for the Dome and Detour Lake gold mines in northern Ontario. The Canadian unit of Placer Dome (TSE) plans to spend $150 million to increase production and lower cost…
U.S. MINING REPORT — La Teko acquires True North ground
By acquiring the True North gold property, La Teko Resources (VSE) is expanding its holdings near Fairbanks, Alaska. The junior is gaining 2,800 acres from Amax Gold Exploration by paying $1.6 million…
U.S. MINING REPORT — Carolina Slate Belt draws attention of
The discovery of a 17-lb. gold nugget in Cabarrus Cty., N.C., in 1799 heralded the first U.S. gold rush. It quickly led to the first thriving gold-mining camp of the Slate Belt and the first in the co…
U.S. MINING REPORT — Potential of Latin America attracts
A growing number of U.S. miners are supplementing their domestic production from operations in at least eight Latin American countries. Chief among these are Chile, Mexico, Bolivia, Peru, Brazil, Guya…
Canadian miners face `Hard Choices’ down south
The convention known as the “Cordilleran Roundup,” held here every January, typically features the latest developments in British Columbia’s mining industry. In recent years, however, the scope has gr…