COMMENTARY — The diamond-cobalt bond
Diamonds are still the hardest substance available for cutting, but only in a few cases (for example, wheel dressing) are large stones used on their own. Most diamond tooling is made in a manner simil…
News
PRODUCER PRICES (August 09, 1993)
ALUMINUM: MW U.S. market US56-57 per lb. (July 29, 1993). ANTIMONY: MW New York dealer US76-80 per lb. (June 10, 1993). BISMUTH: MW New York dealer US$2.35-2.70 per lb. (June 11, 1992). CADMIUM: MW Ne…
Gold Vessel reports Venezuela results
Trench results have been received from the Choco-6 gold property in El Callao district in Venezuelas Guyana Shield, reports Gold Vessel Resources (ASE). Three trenches, one of which represents a deepe…
Placer Dome loosens reins — Independent-minded Gibraltar
Since production started in 1972, Gibraltar Mines (TSE) has adapted to adversity several times and survived. It hopes to continue that strategy partly by expanding mill capacity at its Gibraltar open-…
Cambior output rises by 29%
Gold production increased by 29%, to 233,321 oz., during the first half of 1993 compared with the same period last year, Cambior (TSE) reports. The increase is attributed to start-up of production in …
Amax writes down Hayden Hill
High operating costs resulting from lower-than-expected head grades at the Hayden Hill mine prompted Amax Gold (NYSE) to take a second-quarter writedown of US$69 million. Since June, 1992, when the mi…
Jordex reviews Hushamu project
A team of independent specialists has completed a review of the Hushamu copper-gold project on northern Vancouver Island, B.C. The study was commissioned by Jordex Resources (TSE), which is earning a …
NEWS ROUNDUP — Freewest raises $7 million
To help finance its share of the Holloway gold project in northeastern Ontario, Freewest Resources (TSE) has negotiated a $7-million private placement of 2.5 million special warrants with Pollitt, Ber…
High River drilling deep at Snow Lake gold bet
Having completed a $1.6-million private placement, High River Gold Mines (TSE) has begun 18,000 ft. of deep drilling on its Snow Lake gold property in northern Manitoba. The new program, estimated to …
Cominco loss affects Teck earnings
Low zinc and lead prices led to lower earnings for Teck (TSE) in the 1993 second quarter ended June 30. Net earnings of $3 million for the period were down considerably from $12 million a year earlier…
In the trough — Inco hammered by nickel price
Low nickel prices continue to take their toll on Inco (TSE), which reported losses of US$2.2 million (3 cents per share) for the second quarter and US$24.8 million (25 cents per share) for the six mon…
Noranda earnings take a tumble
The earnings of Noranda (TSE) tumbled during the second quarter to a net profit of $1 million for the three months but a per-share loss of 7 cents after preferred share dividends. For the same quarter…