Placer’s high-cost mines at risk
Placer Dome’s (TSE) “gross strategy” in the months ahead will be to undercut worldwide average production costs of US$265 at all of its mines while maintaining gold production, President Tony Petrina …
News
Shipping lane could prompt boom north of Yellowknife
The MV Arctic set sail this week from Halifax en route to the Nanisivik terminal on Baffin Island to pick up about 25,000 tonnes of lead and zinc concentrates before heading to Europe. In June, the sh…
Mixed results from drilling at Contact Lake
Widely-spaced holes designed to test the Muskeg and Owl showings on the Contact Lake gold property in northern Saskatchewan have all returned uneconomic intersections, says partner Westward Exploratio…
Newmont earns US$40 million on gold purchase
Newmont Mining (NYSE) recently took advantage of low gold prices to buy 375,000 oz. of gold on the forward market. The new reserve will be used to pay off the balance of a one million oz. gold loan sc…
Fluor awarded $180-million HudBay contract
Fluor Daniel has secured a $180-million contract to upgrade Hudson Bay Mining and Smelting’s (TSE) processing operations at Flin Flon, Man. The contractor’s mining and metallurgical wing, Fluor Daniel…
Viceroy sets standard for California mines
The official opening of the Castle Mountain gold mine in this historic mining district was a day of celebration for Viceroy Resource (TSE), a persistent and progressive junior company which overcame a…
Rhonda options Noranda prospect
A letter of intent has been signed between Rhonda Mining (ASE) and Noranda Exploration whereby Rhonda may earn a 50% interest in a copper property in the Coppermine area of the Northwest Territories b…
NEWS IN BRIEF (May 11, 1992)
Premier Gold Resources Inc. (PGL:VSE) has changed its name to Cryptic Ventures Inc. (CYV:VSE) with a consolidation of capital on a 1-new-for-3-old-share basis. The transfer agent is Pacific Corporate …
NDP is simply anti-mining
Despite the rhetoric and sweet talk flowing from the Bob Rae-Bob White administration ostensibly wooing business, I saw absolutely nothing in the recent Ontario throne speech that could possibly encou…
PEOPLE (May 11, 1992)
David Townley appointed president; David Birkenshaw, James Beatty, Greg Bowes, David Hall, David Knight, Frank Lang and David Townley appointed directors.
Spot prices at a glance (May 11, 1992)
Week’s Price (US) Change Gold* $336.75 + $2.00 Silver* $ 4.07 + $0.13 Platinum* $352.65 + $11.90 Nickel** $ 3.35 – $0.03 Lead** $ 0.24 $0.00 Copper $ 0.99 – $0.01 Zinc $ 0.63 + $0.01 Courtesy of Scoti…
Canmine acquires Mexican gold bet
Canmine Resources (CDN) has agreed to acquire a 100% interest in the Moctezuma gold property in Chihuahua, Mexico. The property contains two high-grade gold showings, including a 40-ft.-wide quartz ve…