Spot prices at a glance (May 21, 1990)
Week’s Price (US) Change Gold* $369.60 — $0.10 Silver* $5.02 + $0.02 Platinum* $486.60 + $10.35 Nickel** $3.86 — $0.18 Lead** $0.38 + $0.01 Copper- $1.21 — $0.10 Zinc– $0.79 — $0.05 Courtesy of S…
News
Curragh offered government help for Westray mine
Curragh Resources has received loan guarantees and interest buydowns from the federal government needed before getting the necessary debt financing to bring the Westray coal mine near Stellarton, N.S….
Alberta Stock Exchange Storimin gains 12 cents
A handful of junior gold mining stocks managed to shake their lethargy and post modest gains for the week ended May 15. Among the advancing issues was Storimin Explorations which holds a 50% stake in …
Vancouver Stock Exchange Prime to spend $24 m. in Arch
With gold prices still hunkered down well below the US$400 threshold, trading activity in Vancouver remained at modest levels with most of action generated by Murray Pezim’s Prime group of companies. …
Cambior acquiring 100% of Chimo mine
Gold producer Cambior (TSE) has reached an agreement to purchase the 50% interest in the Chimo mine it does not own from Societe Miniere Louvem (TSE). Cambior will pay about $6.4 million for Louvem’s …
Environmental cleanup could cost $7 billion
Repairing the damage caused by mining companies to the environment and developing the technology to ensure compliance with new environmental legislation will have a serious financial impact on the ind…
Bethlehem, Goldnev plan to merge; An agreement in principle has
Both companies recently appointed independent consultants to prepare a fairness opinion for the proposed merger, specifically to determine a share exchange ratio. The principal assets of the two compa…
IOCC GOLD OPTIONS (May 21, 1990)
Options Open Series Volume Last Interest May 370 C 65 1.50 218 Aug. 380 C 319 9.00 403 Aug. 390 C 144 5.50 689 Aug. 400 C 142 3.60 1,537 Aug. 410 C 433 1.80 687 Aug. 440 C 49 0.50 1,487 Nov. 390 C 61 …
Crown drops Goldfields option
After completing a due diligence review, Crown Resources (VSE) has dropped its option to acquire a package of properties and equipment from Nevada Goldfields (TSE). The transaction was valued at about…
Ocean Drilling to take place off B.C.’s coast
The Ocean Drilling Committee (ODC), an international research body, plans to drill a base metal deposit off the coast of British Columbia next summer. The drilling plan was announced by Jake Epp, fede…
Gammon seeks a balance for Ontario
hile Ontario’s new Mining Act will come into force next year, regulations for the act are still being generated. Leader of the team responsible for the task is John Gammon, 49, director of the Mineral…
EDITORIAL Labor costs in S.A.
Gold miners in the world’s largest gold producing country, the Republic of South Africa, have always received a much lower wage than their counterparts in Canada. As bargaining gets under way this yea…