Healthy third quarter masks industry concerns
A combination of productivity gains and federal government initiatives to stimulate the Canadian economy has paid off for base metal miners, but analysts say the party will be short-lived. A survey of…
News
Processing of diamond samples can be costly
At the height of the field season in the Lac de Gras area, it was rumored that Monopros, the Canadian subsidiary of De Beers Consolidated Mines, was flying out a Twin Otter load of overburden samples …
Court hears closing arguments in Seabright Resources lawsuit
Closing arguments were heard at the end of October in the $60-million Westminer Canada lawsuit against Seabright Resources’ former directors. Information disclosure and director liability are the cent…
NEWS ROUNDUP — Private firm to drill Noront property
A private company has agreed to finance development of Noront Resources’ (VSE) Beaverbrook antimony property near Gander, Nfld. To earn a 50% interest in the property, the private company must spend $…
NEWS ROUNDUP — Board approval for Conigas merger
The directors and independent board committees of Anglo Dominion Gold Exploration (TSE), The Conigas Mines (TSE), Garrison Creek Consolidated Mines (CDN) and Quebec Sturgeon River Mines (TSE) have app…
NEWS ROUNDUP — Equinox, Eastmaque merger approved
The Supreme Court of British Columbia recently approved the amalgamation of Equinox Resources (TSE) and Eastmaque Gold Mines (TSE) in an uncontested hearing. Previous efforts by Equinox to merge the t…
LETTERS TO THE EDITOR — Speaking out for grubstakers
In Canada’s mining industry, panning the prospectors is surely a disgraceful exercise. Natural resources are the basis of Canada’s wealth. But without the vision of explorers, prospectors and speculat…
Kennecott drilling Galena Giant
Drilling recently got under way at the Galena Giant property owned by Wealth Resources (VSE) and Arbor Resources (VSE). Kennecott, which can earn a 51% interest in the property by spending US$5 millio…
STOCK MARKETS — Barkhor, Chapleau issues gain on drill-hole
Western markets tracked sideways during the report period with little help from depressed gold markets. Gold lost about US$7 per oz., marking a new 6-year low at the US$330-per-oz. level. The Vancouve…
Spot prices at a glance (November 16, 1992)
Week’s Price (US) Change Gold* $330.20 – $6.70 Silver* $ 3.71 – $0.09 Platinum* $354.60 – $0.65 Nickel** $ 2.53 – $0.13 Lead** $ 0.20 – $0.01 Copper $ 0.96 – $0.06 Zinc $ 0.47 – $0.02 Courtesy of Scot…
GOLD FUNDS (November 16, 1992)
Gold Funds as of Nov. 10 BGR Central Net Value $8.25 $5.14 Price $6.75 $4.80 Discount 18.14% 6.6% Value $47,980,000 $80,756,640…
Metal prices move lower
The metal and mineral sub-index of Scotiabank’s commodity price index dropped substantially in September, which is contrary to the normal seasonal pattern. The decline in base metal prices continued i…