Giveaways hurting zinc industry
The American Zinc Association has charged the U.S. defence department with selling stockpiled zinc at prices below the market. The zinc sold from that nation’s strategic stockpile has cost taxpayers m…
News
STOCK MARKETS — Wild trading galvanizes western markets
So much for the so-called Christmas doldrums. Investors and traders don’t appear to be taking any time off prior to the Christmas break, judging from the wild action on western markets. The Vancouver …
LATIN AMERICA — Mexico acts to encourage private mining
The Mexican mining industry has been forced to undergo a restructuring the likes of which it has never experienced, according to the Mexican Investment Board. The reorganization has been triggered by …
GOLD FUNDS (December 27, 1993)
Gold Funds as of Dec. 21 BGR Central Net Value $15.73 $6.53 Price $14.75 $7.125 Premium 9.1% Discount 6.22% Value $88,098,000 $128,957,513…
Spot prices at a glance (December 27, 1993)
Week’s Price (US) Change Gold* $386.40 + $0.50 Silver* $ 5.00 $0.10 Platinum* $385.50 + $0.25 Nickel** $ 2.40 + $0.05 Lead** $ 0.21 + $0.00 Copper $ 0.81 + $0.03 Zinc $ 0.45 + $0.01 Courtesy of Scotia…
Central Fund trades in U.S.
Shares of Central Fund of Canada have begun trading on the American Stock Exchange. A registration statement, filed with the U.S. Securities and Exchange Commission, covers 1.3 million A shares which …
NEWS ROUNDUP — Cominco Resources ups Cerattepe
A drill program in 1993 has resulted in a higher reserve estimate for the Cerattepe property in Turkey. Cominco Resources International (TSE) says 52 holes were drilled on the Gossan zone, bringing th…
NEWS ROUNDUP — Audrey has good values over width
Drill results from the 1100 lens project in northwestern Quebec continue to provide encouragement. Audrey Resources (TSE) and Metall Mining (TSE) report a 240-ft. intersection containing 4% zinc, 0.8%…
NEWS ROUNDUP — Canmine does EM work on Fer
Pulse electromagnetic (EM) surveys are being performed by Canmine Resources (CDN) on the Fer base metal property near Flin Flon, Man. The surveys are intended to define targets for a 20,000-ft. winter…
NEWS ROUNDUP — Maude uncovers new gold zones
Two gold-bearing structures have been defined on the property of Maude Lake Gold Mines (CDN) near Matheson in northeastern Ontario. The Ramp vein and 1A zone were found during a 7,940-ft. drill progra…
Indonesian gold output on the rise
Gold is becoming an important export commodity for Indonesia. In 1992, the country’s exports of gold-ingot bar amounted to US$151.5 million, up from US$118.3 million in 1990. Add to this the value of …
New strategy for Sharpe Energy
Managers of Sharpe Energy and Resources (VSE) outlined corporate strategy at a recent meeting in Toronto. The company wants to increase production either by exploration, acquisition or equity investme…