METAL PRICES — FREE MARKET (January 11, 1993)
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Jan. 5 Jan. 4 Jan. 1 Dec. 31 Dec. 30 Copper N/A 1560-1561 N/A 1505-1506 1500-1502 Le…
News
BHP ratifies Sutton option
Mining giant BHP Minerals International recently agreed to take up an option on the Kabanga and Kagera concessions in Tanzania from Sutton Resources (VSE). Under the terms of the previously announced …
Galleon, BMR in Madison deal
In an effort to attract a third party to further develop the Madison gold-copper property near Butte, Mont., owners BMR Gold (VSE) and Galleon Mining (VSE) plan to consolidate the holding. Galleon rec…
Echo Bay writes down investment in Kettle River mine
Denver-based Echo Bay Mines (TSE) says it will reduce the book value of its investment in the Kettle River gold property in Washington state and two exploration properties by a total of US$18.1 millio…
Aurex arranges financing for Chilean tailings project
A recently arranged private placement should give Aurex Resources (VSE) sufficient funds to complete a prefeasibility study on the Cauquenes tailings project in Chile. The placement, arranged through …
1992 — A LOOK BACK — Big tab for Martel inquiry
Government documents have shown that the 2-month inquiry this year into statements by Ontario’s Northern Development and Mines Minister Shelley Martel over a Sudbury doctor’s billing practices cost On…
Diamond hunt craze spreads to Africa
Riding a wave of investor enthusiasm for diamonds, Canadian juniors are snapping up alluvial concessions in Africa at a rapid-fire pace. Applauding the move, investors have pushed the shares of many o…
Barrick drops Yellow Pine option
After completing a preliminary drilling program, American Barrick Resources (TSE) has decided not to invest in Hecla Mining’s (NYSE) Yellow Pine gold deposit in Idaho. Last summer, Barrick signed a le…
La Teko confirms Ryan Lode tonnage
A recently completed independent calculation of reserves at the Ryan Lode property near Fairbanks, Alaska, confirms and expands previous estimates made by owner La Teko Resources (VSE). Mine Developme…
Richmont shares (January 04, 1993)
Richmont Mines (TSE), owner of the Francoeur gold mine near Rouyn-Noranda, Que., says large pension fund Caisse de Depot et Placement du Quebec recently purchased 1.1 million shares (a 9.2% interest) …
FACTS & FIGURES — USGS deciphers mineralized locations
Laboratory analyses provide vital geochemical information that is not available in the field. U.S. Geological Survey (USGS) geochemists work with branches within the organization and with other federa…
Placer exercises USMX option
Mining giant Placer Dome (TSE) recently announced plans to exercise its option to purchase a block of ground adjacent to its Bald Mountain property in Nevada from USMX (NASDAQ). The option covers USMX…