STOCK MARKETS (June 15, 1992)
Shares of SouthernEra Resources and Aber Resources shot up to new highs during the week ended June 9, as more companies moved into the Northwest Territories to stake claims around Lac de Gras and beyo…
News
METALS PRICES (June 15, 1992)
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date June 9 June 8 June 5 June 4 June 3 Copper 1228.5-1229.5 1232-1233 1240-1241 1226-122…
FINANCING (June 15, 1992)
Arlo Res Ltd. – 700,000 shs offered @ 51 cents per sh. Golden Ring Res. – 500,000 units consisting of 1 sh and 2 wts offered @ $1.11 per unit. Intertech Minerals Corp. – 1,250,000 shs offered @ 18 cen…
PRODUCER PRICES (June 15, 1992)
ALUMINUM: MW U.S. market US60-61 cents per lb. (May 28, 1992). ANTIMONY: New York dealer US80-85 cents per lb. (May 21, 1992). BISMUTH: New York dealer US$2.40-2.65 per lb. (May 21, 1992). CADMIUM: Ne…
Asarco to close Idaho silver mine
The Galena silver mine in northern Idaho will be shut down July 26 and placed on a care-and-maintenance basis because of depressed silver prices, Asarco (NYSE) reports. About 215 employees will be aff…
Siddon speaks in support of Yukon mining industry
Placer and hard-rock miners face tougher land-use laws in a draft report which the federal northern development minister unveiled recently in the territory. Still, Tom Siddon, federal minister of Indi…
Drilling planned for Sustut project
An initial drilling program is set to commence at the Sustut gold-copper project in British Columbia, 190 km north of Smithers and 60 km south of the Kemess area, Beauchamps Exploration (VSE) and Skee…
Virginia Gold in option deal
An option agreement to earn a 100% interest in the Sagar III property in Quebec’s Labrador Trough has been finalized, Virginia Gold Mines (ME) reports. The junior says the property, 50 sq. km in size,…
Echo Bay plans sale of convertible preferred shares
Gold producer Echo Bay Mines (TSE) has given notice to the U.S. Securities Exchange Commission of its intention to file a preliminary prospectus for the sale of US$100 million in convertible preferred…
Homestake bets on new zone as 116-year-old mine declines
San Francisco-based Homestake Mining (NYSE) is taking a huge gamble by running a US$23-million exploration drift north from its namesake gold mine in South Dakota, local geologists say. The target of …
PROFILE (June 15, 1992)
Canada’s mining industry is poised to enter its diamond phase, say those who have a stake in the Lac de Gras region, from which a bulk sample yielded gem-quality stones last month. The stock market re…
INSIDER TRADING (June 15, 1992)
Jascan Resources (TSE) director William Felderhof recently sold a large block of company stock as part of an ongoing effort to sever previous connections with the 49% owned Faraday Resources (TSE) aff…