DIAMONDS — The millionaire prospectors
Charles FipkeCharles (Chuck) Fipke, known worldwide for his tenacious and ultimately successful 10-year diamond hunt in the barrens, is synonymous with Canadian diamonds.The chairman of Dia Met Minera…
News
MINING MARKETS & INVESTMENT NEWS — U.S. MARKETS — Rate cut sends Dow soaring
Another quarter-point drop in interest rates by the Federal Reserve bolstered the Dow Jones industrial average for the report period ended Oct. 20. The average climbed 567.71 points, or 7.2%, to close…
SPOT PRICES (October 26, 1998)
Wednesday October 21, 1998Price (US)Week’s ChangeGold*$296.90+$0.30Silver*$ 4.89…
Royal Oak’s Kemess at commercial stage
The Kemess South gold-copper mine in north-central British Columbia has reached commercial production, Royal Oak Mines (RYO-T) reports.Construction of the mine began in July 1996, and limited producti…
EDITORIAL & OPINION — Quebec dreading outright British ban — Europeans take aim at asbestos
Among the most beleaguered of Canada’s industrial minerals industries continues to be asbestos. Statistics compiled by Natural Resources Canada show Canada’s asbestos output dropped sharply between Ma…
MINING MARKETS & INVESTMENT NEWS — Royalty twins to buy up own stock
Euro-Nevada Mining (EN-T) and Franco-Nevada Mining (FN-T) have announced plans to repurchase shares with cash.The two companies advised the Toronto Stock Exchange that they would be making a normal co…
MINING MARKETS & INVESTMENT NEWS — INSIDER TRADING — Rhonda execs engage in lively trading
According to reports released by the Ontario Securities Commission, two executives at Rhonda Mining (RDM-A) traded in that company during the period July-September.Peter Gummer, director, bought 106,0…
SPOT PRICES (October 19, 1998)
Wednesday October 14, 1998Price (US)Week’s ChangeGold*$296.60-$2.25Silver*$ 4.80…
MINING MARKETS & INVESTMENT NEWS — Cameco floats p-shares on U.S. market
Cameco (CCO-T) has sold a US$125-million block of preferred shares in an offering to U.S. investors.Each preferred share represents a principal amount of US$25 in junior subordinated debentures, which…
Chelyabinsk tries to revive sluggish exploration sector
The government of Chelyabinsk, a territory in the Ural Mountains of Russia, has pledged US$600 million over the next seven years to kick-start the region’s base metal mining industry.Under the plan, w…
Western Quebec considers going underground at Wesdome
Drill results from the Wesdome gold project near Val d’Or warrant underground exploration, reports Toronto-based Western Quebec Mines (WQM-T).Since April, the company (WQM) has drilled 73 surface hole…
TSE Short Positions (October 19, 1998)
Short positions outstanding at September 30, 1998Larger individual positions include:Abitibi-Consolidated 981,044, down 1,098,263; Alcan Aluminium 1,303,666, up 258,567; Anderson Exploration 136,411; …