FUTURES PRICES (April 29, 1991)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in UScl per lb.) Apr 110.10 108.40 108.60 +0.45 May 110.50 108.50 108.70 +0.15 Jun 109.50 108.50 108.50 +0.45 SILVER (in UScl per oz.)…
News
U.S. REPORT Arimetco planning to increase Yerington mine’s copper
Ron Shipes, president of Arizona-based Arimetco International (TSE), recently revealed the latest stage in his plan to build Arimetco into a significant player in the North American copper industry. W…
Penna faces OSC charges
Paul Penna, president of Agnico-Eagle Mines (TSE) and Goldex Mines (TSE), has been charged with two counts of illegal insider trading under the Ontario Securities Act. The charges relate to two incide…
Miners like Alaska’s ‘pro-development’ strategy
After more than 16 years of state government ambivalence on resource development, the Alaska Miners Association is welcoming initiatives by a new “pro-development” administration looking to improve th…
U.S. REPORT High costs at Copper Range cut into Metall’s earnings
Lower than anticipated production, high costs at the Copper Range mine in northern Michigan and a drop in base metal prices all combined to slash Metall Mining’s (TSE) annual income by over 90%. The C…
Positive feasibility for Verde prompts Bema to seek financing
With a final feasibility study on the Verde deposit now complete, Bema Gold (TSE) is concentrating on obtaining financing for the Chilean gold project. The estimated capital cost for the open pit, hea…
Redfern moves on Tulsequah
An exclusive option has been granted to Redfern Resources (TSE) to acquire the 60% interest of Cominco (TSE) in the Tulsequah Chief massive sulphide project in northwestern British Columbia. Redfern, …
Adrian boosts reserves to 240,000 oz. `gold equivalent’
Revised reserve estimates for the Ski project north of Stewart, B.C., represent an approximate 70% increase in preliminary reserves and contained gold-equivalent ounces over those announced in Septemb…
Noramco juniors plan amalgamation
Three Vancouver-based juniors, Durham Resources (VSE), Edge Resources (VSE) and Golden Day Mining Exploration plan to amalgamate, subject to shareholder and regulatory approval. If acceptable to regul…
PEOPLE PROFCO RESOURCES — Anna Nyarady appointed president
American Barrick Resources President Robert Smith was named chairman of the Gold Institute for 1991 at the association’s recent annual meeting in Amelia Island Plantation in Florida. Smith succeeds Fr…
NEWS IN BRIEF EL-Equip Inc.
El-Equip Inc. of Elliot Lake, Ont., recently obtained a technology supply contract with Codelco, Chile’s state-owned mining conglomerate. The contract, worth $400,000, is for the supply and installati…
Seabright merges with Corner Bay, will change name
A wholly owned subsidiary of Seabright Explorations (TSE) has merged with Corner Bay Resources, a private Toronto-based company with properties in the Chibougamau area of northern Quebec. At the end o…