PROFILE (September 09, 1991)
By and large 1991 has been a dismal year for the mining industry. Metal prices are low while risk capital is rare. Agnico-Eagle Mines, however, reported a net profit of $846,000 for the second quarter…
News
South Africa, Soviet Union dominate gold, platinum markets
South Africa and the USSR play a vital role in the world gold and platinum industries: in 1989 their combined output accounted for 45% of world gold production and 91% of total platinum group metal (p…
Aurora yields new zone for Denison, S.A. Goldfields
A new gold zone and the possible extension of a zone at the Aurora joint venture property in Guyana, South America, have been reported by South American Goldfields (TSE) and Denison Mines (TSE). The l…
Golden Rule adopts poison pill
Calgary-based Golden Rule Resources (TSE) has adopted a shareholders’ rights plan to protect the company from hostile takeovers. Under the plan, if any person or group acquires more than 10% of Golden…
FUTURES PRICES (September 09, 1991)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Sep 104.70 104.00 104.45 + 1.55 Oct 104.20 103.65 103.95 + 1.45 Nov 103.40 103.40 103.60 + 1.40 SILVER (in US cen…
NEWS ROUNDUP (September 09, 1991)
Craibbe-Fletcher Gold Mines (CDN) says it has almost completed rehabilitation work at the 2,000-ft. level of the company’s property, and should be drilling there by the end of September. The undergrou…
NEWS IN BRIEF (September 09, 1991)
Dasher Resources Ltd. (DSR:VSE) has changed its name to Consolidated Dasher Resources Inc. (CDH:VSE) with a consolidation of capital on a 1-new-for-4-old-share basis. The transfer agent is National Tr…
Munk to gain millions from options
Peter Munk, the flamboyant chairman of Toronto-based gold miner American Barrick Resources (TSE), is set to earn a pretax profit of $36.6 million by exercising options on two million shares. Munk acqu…
InterStar plans to build African manganese mine
Toronto-based Starrex Mining (TSE) and Phoenix Canada Oil, through their jointly owned affiliate InterStar Mining Group (CDN), have signed a deal with the Burkina Faso government to develop the high-g…
Partners sign Omai agreement
A mineral agreement covering the business conditions for the development and operation of the Omai gold project in Guyana in South America has been signed, Cambior (TSE) reported. Partners in the mini…
LAC swallows rest of Bond Gold
Bond International Gold became a wholly owned subsidiary of LAC Minerals (TSE) on the last day of August, after a scheme of arrangement for the takeover was sanctioned by the Grand Court of the Cayman…
LAC finds 850 missing shareholders
After a summer of sleuthing on behalf of LAC Minerals (TSE), Ewan Mason and Vangie Mamoukarys are satisfied they have done everything possible to find the company’s “missing shareholders.” O.Tut of a …