Metal Prices (May 08, 1989)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date May 2 May 1 Apr 28 Apr 27 Apr 26 Copper 1744-174…
News
Golden Chest merger
Golden Chest (OTC) shareholders’ approved the company’s merger with TAP Resources (Spokane) of California. The merger gives Golden Chest a 39% interest in a joint venture project with Newmont Mining a…
Lenora sells interest to American Barrick
Greater Lenora Resources (TSE) of Toronto has announced plans to sell its 35% interest in properties in northeastern Ontario to joint partner American Barrick (TSE). American Barrick will pay $1.6 mil…
Redstone Resources completes offering
Toronto-based Redstone Resources (TSE) says it has successfully raised $800,000 through a rights offering. Net proceeds will be invested in mining ventures and related fields, according to President D…
Battle Mountain earnings lower
Battle Mountain Gold (NYSE) reported net income of $10.8 million(US) or 16 cents per share in the first quarter of 1989 compared to $15.8 million or 24 cents last year. The decrease was largely attr…
Junior base metal explorers reviving
As gold and silver prices continue relentlessly downward, the number of juniors active in base metals exploration is on the rise. Concern over dwindling base metal reserves in Canada has shifted a cer…
Low costs key to FMC performance
By stepping up production and reducing costs at its Nevada gold mining operations, FMC Gold Company (NYSE) was able to increase its first-quarter earnings by 3% over the comparable period in 1988. The…
PDAC welcomes 7 new directors
The Prospectors and Developers Association of Canada recently welcomed seven members to its board of directors: Ian Atkinson, Ontario Mineral Exploration Federation, Timmins, Ont.; Stanley Hawkins, Ta…
Queries Loss of Inspiration
I have an old stock certificate for 100 shares of Inspiration Ltd., dated Jan 6, 1969. What is the current status of this company and does the stock certificate have any value? L.B. Bathurst, N.B. U…
New mill boosts FirstMiss earnings
Now that it has a new mill up and running at its Getchell gold mine project in northern Nevada, FirstMiss Gold Inc. (NASDAQ) is reporting a significant increase in its net earnings and operating profi…
Montreal Exchange Eastmain go-ahead
Mixed trading marked the week in Montreal, where the general market portfolio index jumped more than 30 pts and the mining and minerals index dropped almost 20 pts. Daily volumes ranged between 4.3 mi…
Varna, Gingrich Exp. complete Tilt deal
Calgary-based Varna Gold (ASE) and Gingrich Exploration have signed an agreement allowing Varna to earn a 100% stake in the Tilt Cove gold property in return for expenditures of $250,000. The property…