Gold Funds (November 29, 1993)
Gold Funds as of Nov. 23 BGR Central Net Value $15.02 $6.16 Price $13.88 $6.625 Premium 7.5% Discount 7.64% Value $84,154,000 $119,907,863…
News
EXPLORATION ’93 — Awake exercises William warrants
A Luxembourg holding company, Awake S.A., will exercise 828,008 warrants of William Resources (ME), entitling Awake to buy one common share of William for 26 cents. Awake will increase its stake in Wi…
Correction (November 29, 1993)
The executive body of Wheaton River has not changed as reported in People (T.N.M., Nov. 22/93). The appointments were made to North American Metals, a company in which Wheaton River is a major shareho…
EXPLORATION ’93 — Western Copper-Thermal pilot operation
Joint-venture partners Western Copper Holdings (TSE) and Thermal Exploration (ASE) produced about 800 lb. of copper cathode during the first month of their pilot-plant project, near this northern comm…
Negotiations at Giant begin again
The Canada Labour Relations Board has found that both Royal Oak Mines (TSE) and Local 4 of the Canadian Association of Smelter and Allied Workers (CASAW) bargained in bad faith during labor negotiatio…
Ruby gold mine ups production
Increased production is expected from the Ruby mine, a placer-gold deposit in Grass Valley, Calif. So far, about 47 tons ore averaging just over 0.2 oz. gold per ton have been produced from two new ar…
USMX encouraged by latest Dewey results
Drill results from the Dewey property in Idaho’s Thunder Mountain district continue to impress USMX. The NASDAQ-listed company optioned the property earlier this year and can buy it outright for US$5 …
Inco eyes Chilean copper projects
Following the recent bid by Lac Minerals (TSE) and Cyprus Minerals (NYSE) for a 51% stake in Chile’s El Abra copper deposit, Inco (TSE) has thrown its hat into the ring. At a meeting in Toronto, Inco …
Orvana drilling at Pederson property
The first four holes of a 15-hole reverse circulation program at the Pederson (formerly San Bernardino) project in Bolivia returned assays in line with surface and underground sampling. Orvana Mineral…
Westmin losses cut to $3.7 million
Limited production has resumed at the Myra Falls base metals mine near Campbell River, B.C. Westmin Resources (TSE) suspended production earlier this year because of a labor dispute which is still ong…
LETTTERS TO THE EDITOR — U.S. mining law reform needs
In a recent article in Time magazine on mine reform legislation in the U.S., the industry south of the border (along with the Canadian contingent of companies) was portrayed in a negative light. The r…
Base metal prices show stability
Reflecting an improved outlook in the general economy, some base metals appear to be entering a stable period. Mine producers, especially the high-cost ones, are seriously setting about reducing outpu…