Inventory levels dog metals markets
Metal markets, though bloated with high production and inventories, continue to draw encouragement from consumption figures. Announcements of cutbacks and increased consumption are welcome but are not…
News
Government approval for Mt. Milligan project
A mine development certificate has been awarded to Placer Dome (TSE) for its Mt. Milligan copper-gold project near Fort St. James, B.C. The certificate was awarded after a provincial and federal techn…
LAST BUT NOT LEAST — Royal Oak completes placement
A private placement agreement between Royal Oak Mines (TSE) and Asia Minerals (VSE) is complete. Royal Oak bought 5.6 million shares of the company for $2 million and can buy an additional 5.6 million…
LAST BUT NOT LEAST — Brenda sells oil and gas
By selling its remaining oil and gas assets in Australia, Brenda Mines (TSE) hopes to add $1.9 million to cash reserves. As of June 30, 1993, Brenda had a cash position of more than $107 million. It i…
LAST BUT NOT LEAST — Horsham grosses $US550 million
Toronto-listed Horsham has completed a 25-year debt financing with gross proceeds of US$550 million. The debentures will carry an interest rate of 3.25% and be indexed to the common share price of ass…
LAST BUT NOT LEAST — Cyprus to explore Guinea
Under an agreement with Guinean government, Cyprus Amax Minerals (NYSE) can explore for gold in the region known as Mandiana Prefecture. The area has an extensive gold mining history, with some deposi…
LAST BUT NOT LEAST — Private placement by SouthernEra
Diamond explorer SouthernEra (TSE) has completed a private placement of 1.4 million units to a group of European investors. Each unit consists of one common share and one half-share purchase warrant a…
Goldbelt provides review extension
Pegasus Gold (TSE) has been given a 3-month extension to complete a due diligence review of its proposed alliance with Goldbelt Resources (VSE). In mid-September, it was announced Pegasus would inject…
Homestake discovery triggers staking rush
A gold discovery by Homestake Mining (NYSE) has triggered a staking rush in the southern portion of the Battle Mountain-Eureka trend in eastern Nevada. A recent hole drilled by the major encountered 0…
MacGregor at CIM luncheon
The impact of Latin American mining on Canada will be the subject of an address by Sir Ian MacGregor at the Dec. 16 luncheon of the Toronto branch of the Canadian Institute of Mining, Metallurgy and P…
METAL PRICES (December 13, 1993)
London Metal Exchange Spot closing prices in $US per tonne Date Dec. 7 Dec. 6 Dec. 3 Dec. 2 Dec. 1 Copper 1678-1679 1671-1672 1656-1657 1665-1666 1643-1644 Lead 447-448 443-444 433-434 431-432 430-431…
Redfern winds down Tulsequah Chief drilling in B.C.
Drilling at the Tulsequah Chief and Big Bull projects in northwestern British Columbia has finished for the year. The result, says Redfern Resources (TSE), is that the potential of Big Bull has been c…