LME WHS LEVELS
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Aug. 31/98 (change from Aug. 25 in brackets):MetalStocks(tonnes)Change…
News
MINING MARKETS & INVESTMENT NEWS — EASTERN MARKETS — Global markets take roller-coaster ride
Markets around the world were rocked during the Aug. 26-Sept. 1 report period as trading sessions saw maximum volatility and volume.Jittery North American markets sunk several percentage points on Aug…
MINING MARKETS & INVESTMENT NEWS — U.S. MARKETS — A bloody week on Wall Street
The Dow Jones Industrial average lost 512 points on Aug. 31, its second-largest point drop in history. A rally the following day salvaged some of the damage as the Dow posted a 775-point loss, or 9%, …
GOLD FUNDS (September 07, 1998)
Gold Funds as of August 27, 1998BGRCentralNet Value$12.16$6.01Price$8.55$…
LATIN AMERICA — NEWS ROUNDUP — Scale of Amayapampa reduced
Low gold prices have prompted Vista Gold (VGZ-T) to scale down mining plans at the Amayapampa gold project in Bolivia.The company completed a feasibility study for a 3,000-tonne-per-day operation in t…
Akrokeri posts quarterly profit
Despite poor gold prices, Akrokeri Ashanti Gold Mines (aagm-c) reported a slight profit for the second quarter of 1998.The company posted earnings of US$87,271 (or 0.2 cents per share) on revenue of U…
Companies (September 07, 1998)
Index AAber ResourcesAkrokeri Ashanti Gold MinesAnatolia Minerals DevelopmentAsarcoAshanti GoldfieldsAZCO MiningBreakwater ResourcesCambiorCamphor VenturesCanarc ResourceClaude ResourcesDayton MiningD…
MINING MARKETS & INVESTMENT NEWS — WESTERN MARKETS — Juniors take beating as western markets plunge
The Vancouver Stock Exchange composite index plunged through the 400 level during the report period Aug. 26-Sept. 1 to close at 388.86, down 41.55 points, or 9.7%. The mining index followed suite, she…
PRODUCER & DEALER PRICES (September 07, 1998)
Aluminium: LME settlements US$1,355, alloy US$1,160 per tonne (Sept. 1/98).Antimony: Representative mid-market US$1,250 per tonne (Aug. 25/98).Bismuth: Representative mid-market US$3.45 per lb. (Sept….
Gran Colombia drops deal
Ongoing turmoil in the Russian economy has prompted Gran Colombia Resources (GRM-T) to defer plans to acquire an 80% interest in the Pokrovskoye gold project in the Amur Oblast region.The junior compa…
Ashanti plans friendly takeover of Samax Gold
Though no formal offer has been made, Ashanti Goldfields (ASL-N) says it intends to acquire London-based Samax Gold (SMX-T) as a means of augmenting its existing holdings in Tanzania.Ashanti plans to …
LATIN AMERICA — Cambior’s Omai mine aims to sustain production levels — Plan hinges on development of soft rock reserves at mine site in northeastern Guyana
With operations now running smoothly at the Omai gold mine in Guyana, owners Cambior (CBJ-T) and Golden Star Resources (GSC-T) are paying extra attention to lowering production costs and searching for…