NEWS ROUNDUP — TVX buys Homestake interests
TVX Gold (TSE) will acquire Homestake Mining’s (NYSE) half interest in the Mineral Hill and Jardine joint ventures. The agreement will bring TVX’s interest in both Montana gold properties to 100%. TVX…
News
Four companies to form CanGold
Four related companies plan to amalgamate under the name CanGold Resources. The four are Hughes Lang (VSE), Orofino Resources (TSE), Nova-Cogesco Resources (TSE) and Equity Reserve (TSE). Under the pl…
LETTERS TO THE EDITOR — Rude awakening imminent
I would like to thank The Northern Miner for bringing to the public’s attention the fact that Canada’s central bank gold reserves will be zero in another 24 months at the present rate of selling by th…
Glimmer, Hemlo get more results
There’s more encouraging news from the Hislop gold property in northeastern Ontario. Hemlo Gold Mines (TSE), the operator with a 60% interest, and Glimmer Resources (VSE), with 40%, said the five step…
COMMENTARY — The price outlook for gold
We see gold trading between US$360 and US$390 per oz. for the remainder of 1993, and we have used an average price for calendar 1994 of US$370. Net central bank sales should continue, prices will like…
ODDS’N’SODS — Clayoquot Sound and mining
The rabid environmentalists seem to be stymied in their campaign to shut down the logging industry of Clayoquot Sound in British Columbia. The government stands firmly committed to its land-use decisi…
SPOT PRICES AT A GLANCE (December 06, 1993)
Week’s Price (US) Change Gold* $370.10 – $6.00 Silver* $ 4.33 – $0.22 Platinum* $366.75 – $5.90 Nickel** $ 2.10 – $0.02 Lead** $ 0.19 + $0.01 Copper $ 0.74 $0.00 Zinc $ 0.42 $0.00 Courtesy of Scotiaba…
TORONTO STOCK EXCHANGE INDICES (December 06, 1993)
— Week — Nov 30 Nov 29 Nov 26 Nov 25 Nov 24 High Low Composite”300″ 4180.21 4170.33 4220.61 4229.18 4223.34 4233.58 4168.06 Metals&Minerals 3275.99 3257.66 3274.72 3269.89 3274.33 3290.40 3257.53 In…
Dyno Nobel meets ISO 9000 standard
The Sudbury, Ont., plant of Dyno Nobel has become the first explosives facility in North America to meet the ISO 9000 standard. The ISO 9000 quality control standards were developed by the Internation…
First-half mine openings, closings in near-balance
Among the trends that can be traced through this mining year is a significant rise in the number of gold operations reopened and base metal mines suspended (see Table 1) as of July 1. With 16 openings…
DIAMOND PAGE — Cross Lake joint venture has hopes pinned on
Drills are turning on the Cross Lake kimberlite target in the Northwest Territories, with at least five holes planned. Ashton Mining of Canada (TSE) is earning a 51% interest from Pure Gold Resources …
Republic finishes equity financing
A private placement of several hundred thousand units of Republic Goldfields (VSE) has been completed. The placement has gross proceeds of US$1.6 million, with each unit priced at US$2.25. A unit cons…