Santa Fe boosts reserves
The proven and probable gold reserves of Santa Fe Pacific (NYSE) jumped 26% during the second half of 1993. The biggest boost was experienced at the Twin Creeks mine near Winnemucca, Nev., mainly in t…
News
Euro-Nevada spinoff to focus on Latin American properties
The principals behind two hugely successful royalty companies are aiming to roll out another such entity. The targeted royalty investments this time are gold properties in Latin America. Currently, th…
Metals in decline — Canada’s mineral value rises in 1993
In 1993, the value of Canada’s mineral production increased by 1.9%, or about $700,000, from the previous year. Preliminary estimates by the federal Department of Natural Resources indicate that the v…
African potential focus of forum
Mining investment opportunities in Africa will be the focus of a conference June 6-8 in Denver, Colo. Mines ministers from about 15 countries in sub-Saharan Africa are expected to attend. Organized by…
Barrick’s proposal rejected by Bre-X
A proposal in which American Barrick Resources (TSE) offered to acquire property joint-venture options and an equity stake in Bre-X Minerals (ASE) has been rejected. “We declined Barrick’s offer becau…
EDITORIAL PAGE — The great Canadian way
The town of Cobalt, a quiet hamlet today, is said to be the cradle of Canadian mining. True, the discovery of nickel in Sudbury preceded development of the Cobalt silverfields (and to this day, Sudbur…
COMMENTARY — CANMET assists Selbaie, Dickenson
To ensure the stability of their copper-zinc mining project, operators of Les Mines Selbaie in northwestern Quebec are monitoring excavations with time domain reflectometry (TDR). The cable-testing te…
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…