Homestake set to acquire Plutonic
T’is the season for bargains, thanks to low gold prices, and Homestake Mining (HM-N) has been out doing some last-minute Christmas shopping in Australia. The company has announced that it intends to a…
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GOLD FUNDS (December 29, 1997)
Gold Funds as of December 18, 1997BGRCentralNet Value$14.70$6.12Price$10.05…
Jordex shifts from nickel
Weak nickel markets have prompted Jordex Resources (JDX-T) to cease funding its minority stake in the Loma de Niquel nickel project in Venezeula.The company says increases in capital costs and financi…
Kit, Inmet extend agreement
Kit Resources (KIT-T) and Inmet Mining (IMN-T) have extended the deadline for a letter-of-intent agreement that will see the former purchase the latter’s Izok Lake polymetallic property in the Bathurs…
Platexco hits PGM at Winnaarshoek
A drill program by Platexco (PGMI-C) at its Winnaarshoek property in South Africa’s Bushveld complex has returned numerous intercepts bearing platinum group metals (PGM).The 9-hole program was underta…
Arian boosts Julietta stake
The slump in gold prices is not curtailing the efforts of Arian Resources (ARA.U-T) to arrange production financing for the Julietta gold-silver project in the Madagan region of the Russian Far East.H…
Cross Lake pulls more copper, zinc values
New drill results from the Sheraton-Timmins project of Cross Lake Minerals (CRN-V) in northeastern Ontario’s Sheraton Twp., indicate a wide package of mineralized zones along a strike length of about …
Teck and Western Copper hit more sulphides in Mexico
Drilling on the San Nicolas volcanogenic massive sulphide discovery in central Mexico has wound down for the Christmas holidays.The project is part of the El Salvador joint venture situated in Zacatec…
Glimmer achieves commercial production
Company officials and visitors examine core from the Glimmer mine.New Year’s Day 1998 will mark the start of official production for the Glimmer mine project in northeastern Ontario.Operator Exall Res…
Barrick adopts poison pill
The board of directors of Barrick Gold (ABX-T) has adopted a shareholder-rights plan designed to make the company more difficult to take over.Barrick will propose the plan — which would remain in eff…
Small investors go for the gold
Demand for gold bars and bullion coins among private investors has increased sharply in light of low gold prices, according to a report by CPM Group of New York, N.Y.Investors in gold were most active…
SPOT PRICES (December 29, 1997)
Monday, December 22, 1997Price (US)Week’s ChangeGold*$290.45+ $4.35Silver*$ 6.06…