GOLD FUNDS (October 28, 1991)
BGR Central Net Value $8.56 $5.01 Price $7.63 $4.450 Discount 10.97% 11.2% Value $50,989,185 $74,868,135…
News
Great Lakes intends to make rights offering
Great Lakes Minerals (TSE) said it intends to make a rights offering for its Ontario shareholders, who would receive one right for each common share owned. Five rights plus a subscription price (yet t…
TSE Short Positions (October 28, 1991)
Semi-monthly reports as of October 15, showed 21,518,619 shares of 580 issues compared with 21,525,116 shares of 590 issues on September 30 Larger individual positions included: Alliance Res. 0, down …
Vancouver Stock Exchange (October 28, 1991)
The market managed to reverse its downtrend during the week ended Oct. 22, with the resource index gaining 13.49 points to finish at 510.81 and the composite index closing up 3.54 points at 556.96. Sp…
Matachewan awaits day in court
Matachewan Consolidated Mines (TSE) is looking forward to its day in court after the Ontario Ministry of the Environment laid criminal charges against the junior company and two of its officers. Crimi…
Proposals threaten uranium mines
New radiation exposure limits proposed by the Atomic Energy Control Board (AECB) threaten to close some of Canada’s existing underground uranium mines and prevent the development of new ones, says Tim…
Metall shuffles mining interests
German mining giant Metallgesellschaft AG recently announced a $195-million transaction designed to streamline its holdings in North America and Australia. Through its 59.3% owned Toronto subsidiary M…
Timmins Nickel mulling option on Redstone mine
Barring an unforeseen nickel rally, Timmins Nickel (TSE) will not exercise an option to purchase BHP-Utah’s 49% interest in the Redstone mine near Timmins, Ont. The owner of a 51% stake in Redstone, T…
Weak prices hurt Inco earnings
Lower third-quarter earnings reflect weaker nickel markets and increased unit production costs at its Canadian operations, Inco (TSE) said. The nickel giant recorded third-quarter earnings of US$4.5 m…
INSIDER TRADING (October 28, 1991)
Warren Armstrong, president of Quebec Sturgeon River Mines (TSE), recently reduced his holding in the 21.6% owned affiliate of Toronto-based Coniagas Mines (TSE). According to the Ontario Securities C…
Gold price hits US$360 on new estimates from Soviets
For the first time since mid-August, evidence that the Soviet Union is harboring much less gold than western analysts had been estimating has pushed the precious metal above US$360 per oz. Analysts ag…
Toronto Stock Exchange (October 28, 1991)
Gold lost none of its new-found glitter during the week ended Oct. 22, as analysts continued to assess the impact of new revelations about Soviet reserves on future supply. A feasibility study release…