Billiton buys BP’s stake in Selbaie
As part of a continuing effort to concentrate on its oil and gas business, BP Canada (TSE) recently agreed to sell its 61.11% stake in Les Mines Selbaie to partner Billiton Metals Canada. Having signe…
News
Rio not funding Kemess work, partners consider alternatives
Partners St. Philips Resources (VSE) and El Condor Resources (VSE) are reviewing financing alternatives after Rio Algom announced it will not fund St. Philips’ portion of this year’s exploration costs…
Inco boosts size of debenture issue
The size of a U.S. dollar debenture offering has been increased by Inco (TSE) to US$200 million from US$150 million (T.N.M., June 15/92) because of strong investor demand, the company says. The debent…
GUEST COLUMN (June 29, 1992)
Meaning “Our Land” in Inuktitut, Nunavut is the new Inuit territory to be formed from the Northwest Territories’ eastern Arctic portion. The creation of Nunavut no later than April 1, 1999, is expecte…
STOCK MARKETS (June 29, 1992)
Tyler Resources stood out as a winner among softening diamond stocks during the week ended June 23 as the issue moved to a new high of 34 cents on The Toronto Stock Exchange before slipping slightly t…
Kookaburra buys
Following the purchase of a 15% net profits interest in the Longshot Ridge property from CoCa Mines, Kookaburra Gold (VSE) now owns a 100% undivided interest in the property. Kookaburra purchased CoCa…
TORONTO STOCK EXCHANGE INDICES (June 29, 1992)
June 23 June 22 June 19 June 18 June 17 High Low Composite”300″3343.02 3340.66 3350.89 3357.17 3368.19 4009.47 3009.91 Metals&Minerals 3095.19 3095.46 3101.27 3068.12 3125.80 3453.06 2502.63 Integrate…
Polaris gold zone extended
Recent drilling on the Polaris-Taku property in northwestern British Columbia has extended the strike length of the C vein about 350 ft. to the east at the 400-ft. level. Suntac Minerals (VSE) is earn…
U.S. REPORT (June 29, 1992)
Production at the Crofoot/Lewis heap leach mine in Nevada reached a new record for the month of May with 10,109 oz. gold and 58,708 oz. silver produced. Hycroft Resources (VSE), owner of the mine, rep…
LETTERS TO THE EDITOR (June 29, 1992)
Our magazine applauds your addressing the topic of gold dumping. (T.N.M., May 11/92). The dumping of government gold stock by the Canadian central bank, however, is not being executed to reduce federa…
Spot prices at a glance (June 29, 1992)
Week’s Price (US) Change Gold* $344.00 + $1.90 Silver* $ 4.04 – $0.07 Platinum* $366.60 – $2.65 Nickel** $ 3.23 – $0.01 Lead** $ 0.25 $0.00 Copper $ 1.06 + $0.02 Zinc $ 0.59 $0.00 Courtesy of Scotiaba…
Homestake sides with Placer: Eskay Creek is overvalued
Even though a feasibility study hasn’t been completed for the Eskay Creek project north of Stewart, B.C., two of North America’s largest gold mining companies announced or plan substantial writedowns …