Metal Prices FREE MARKET London Metal Exchange (February 27, 1989)
Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Feb 21 Feb 20 Feb 17 Feb 16 Feb 15 Copper 1728-1730 1693-1695 1650.5-1652.5 1665-…
News
Corona/Golden Nevada drilling near Nickel Plate mine
In a push to increase and find new reserves to eventually feed its mill near Hedley B.C., Corona Corp. (TSE) is currently operating five diamond drill rigs on a number of properties near its producing…
Pegasus earnings reflect higher gold production
A 24% increase in gold production boosted the net earnings of Pegasus Gold (TSE) to $17.8 million(US) or 75 cents per share in 1988. These results compare with a $14.5 million profit or 70 cents a s…
Deak Res. set to acquire old MacDonald zinc mine
Deak International Resources, a subsidiary of the New York metals trader Deak International Inc., is close to acquiring Noranda Inc.’s (TSE) 51% stake in the former West MacDonald zinc mine in Quebec….
Jerome sampling is encouraging
Initial chip sample results from the underground drift faces on the South zone at the 500-ft level of the Jerome project in northern Ontario averaged 0.28 oz gold per ton, across an average width of 5…
Metal Prices PRODUCER PRICES (February 27, 1989)
ALUMINUM: MW U.S. Market 97 cents – $1.00(US) per lb. (Feb 16, 1989). ANTIMONY: New York dealer $1.00- $1.03(US) per lb. (Jan 19, 1989). BISMUTH: New York dealer $6.40-$6.60(US) per lb (Feb 16, 1989)….
DRX plans bid for Aussie gold miner
New York-based DRX Inc. says it is planning a takeover bid for Australian gold miner Mount Burgess Gold Mining Co. DRX holds about 1.9 million shares or 7% of Mount Burgess common shares and it intend…
INSIDER TRADES (February 27, 1989)
Amer Ore — R. Fraleigh bought 50,000 (Dec, Jan) @ 20 cents to hold 68,000 and bought 6,000 (Jan) @ 32-33 cents to hold 28,000 indirectly. Ansell Lake — S. Mourin sold 301,000 (June, July) @ 65 cent…
Atlantic Report Nova Scotia operations reduced
Twelve months ago, drill rigs were at a premium in Nova Scotia as companies rushed to qualify flow-through expenditures for the 1987 tax year. This February, you could count the number of drills opera…
Coeur D’Alene has record year
Even with lower metal prices, 1988 was the best year in Coeur D’Alene Mines (Amex) history, according to the company’s president, Dennis Wheeler. Net inco me was $15.4 million(US) or $1.45 per share…
Magnacon’s head-grade potential up
A bulk sampling program completed at the Magnacon mine project has yielded mill head grades up to 81% higher than the uncut chip sample averages, partners Muscocho Explorations (TSE), Flanagan McAdam …
Orofino seeks cash source to replace Scadding gold
With 20 months of reserves remaining at its Scadding gold project near Sudbury Ont., Orofino Resources (TSE) is under pressure to find a new source of cash flow among its portfolio of exploration prop…