U.S. Report BMR focusing on California project
The focus for the coming year for BMR Gold (ASE) will be to bring the America Mine gold project to the point of a production decision. BMR has the right to acquire a 75% interest in the America Mine p…
News
Sale of Indonesian interests will net Inco $125 million
Through a public offering on the Indonesian stock exchange, Inco (TSE) will sell 20% of its interest in PT International Nickel Indonesia (PT Inco). The sale will net proceeds of US$250 million, resul…
Spot prices at a glance (April 16, 1990)
Week’s Price (US) Change Gold* $374.10 — $0.15 Silver* $5.09 + $0.08 Platinum* $476.00 + $0.30 Nickel** $3.99 — $0.10 Lead** $0.37 — $0.04 Copper- $1.19 — $0.07 Zinc $0.74 — $0.04 Courtesy of Sco…
Commodity index in further decline
A small drop of 0.5% in Scotiabank’s all-commodity price index was recorded for February; on an annualized basis, the index fell by 5.3% for the month. A decline in base metal prices contributed to th…
Dayton building gold reserves on Chile bet
Vancouver-based Dayton Developments (VSE) and its private subsidiary Kimex Resources have acquired an option to buy Chevron’s (NYSE) 4% net returns royalty in the Andacollo gold project in Chile. Dayt…
Stepout drilling expands limit to extent of Crown Jewel deposit
Drilling results from a recently started summer program on the Crown Jewel property in northeastern Washington State indicate that the ultimate size of the gold deposit has yet to be determined. Battl…
Development under way on Santa Gertrudis placer gold property
Exploration and development is under way on the Santa Gertrudis placer gold property in Colombia, says owner Western International Explorations (COATS). Santa Gertrudis, Western International’s 90% ow…
Miners support hydro rates as long as supply reliable
Ontario mining companies are bracing themselves for hydro rate increases that could increase the cost of supplying power to their operations next year by as much as 8.6%. But after suffering an unusua…
Goldcorp loss
Goldcorp Investments, the Toronto-based gold fund which last year bought control of gold producer Dickenson Mines (TSE), recorded a net loss in 1989 of $3.5 million (20 cents per share) on revenue and…
Glimmer has gold reserve estimate for Beatty claims
A preliminary estimate of gold reserves has been released by Glimmer Resources (VSE) for the company’s 40% owned joint venture project with Noranda (TSE) in Beatty and Hislop twps., near Matheson, Ont…
Piedmont tallies loss for 1989
A loss of US$236,652 for the year ended Dec. 31, was reported by Piedmont Mining (NASDAQ). This compares with a loss of US$456,082 in the previous year. The relative improvement in results, despite a …
Waddy Lake property purchase agreement rejected by TSE
An offer made by Golden Rule Resources(TSE) and Goldsil Resources (TSE) to sell their 45% interest in the Oven Lake joint venture in the La Ronge area of Saskatchewan has been rejected by the TSE. The…