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…
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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…
Mystery gold find by Equinox
The location and property name are shrouded in mystery, yet drilling on a joint-venture somewhere in Nevada is pointing to a potentially significant gold discovery. Equinox Resources (TSE) reports tha…
U.S. MINING REPORT — Newmont seeks international mining
Already big names in gold mining, Newmont Mining (NYSE) and Newmont Gold (NYSE) can only continue to grow with their recently announced merger plans. Newmont Gold is currently North America’s largest …
Northwest Territories a vast store of mineral wealth
A wealth of minerals can be found in the Northwest Territories. Zinc, gold and lead are the major mineral commodities currently being exploited. Minor or byproduct commodities include silver, cadmium,…