Metal Prices FREE MARKET (December 17, 1990)
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date December 11 December 10 December 7 December 6 December 5 Copper 1274-1276 1279-1280 …
News
U.S. REPORT Galactic, Cornucopia seek cash for overruns
Cost overruns and a shortfall in planned gold production from the Ivanhoe joint venture in Nevada have forced partners Galactic Resources (TSE) and Cornucopia Resources (TSE) to obtain an additional U…
IOCC GOLD OPTIONS (December 17, 1990)
Options Open Series Volume Last Interest Feb. 380 C 162 10.10 884 Feb. 390 C 344 8.50 1,310 Feb. 400 C 380 4.50 1,734 Feb. 410 C 116 3.60 1,382 Feb. 430 C 350 2.70 2,269 Feb. 450 C 300 1.50 843 May 43…
Adrian drilling successful on Eskay `gap’
Drilling on the TOK claim gap within the Ski project owned by Adrian Resources (VSE) continues to return excellent assays and the company is confident reserves will increase as a result. The claim gap…
Partners planning program at Skookum
Equal partners Noront Resources (VSE) and Blue Emerald Resources (VSE) are planning a second-phase program for their Skookum property, 3.4 miles from the Eskay Creek deposit in northwestern British Co…
People DICKENSON MINES AND WHARF RESOURCES (December 17, 1990)
Robert McEwen appointed president of these companies succeeding David Libby who resigned; John Cook appointed both companies’ vice- president of operations.
Newfoundland helps lobbyists with grants for prospecting
Newfoundland will introduce a program next spring designed to encourage people to prospect for gold. A 2-week prospecting course will be offered in May at a community college in Stephenville on the pr…
Parlake options (December 17, 1990)
The shareholders of Parlake Resources (TSE) have approved a proposal to grant options to the president and one director of Parlake. Under the incentive program, the Parlake officers will hold options …
FINANCING (December 17, 1990)
Dundee Resources Corp. — 1,800,000 shs offered @ 17 cents per sh. Sundance Resources Ltd. — 2,000,000 shs offered @ 27 cents per sh. Mountain Beaver Resources Ltd. — 2,700,000 units consisting of 1…
Debt costs squeeze Noranda – Hemlo may go on the block
Toronto-based Noranda (TSE) may begin selling off core assets including Hemlo Gold Mines (TSE) if cost-cutting measures fail to contain the company’s $3.9-billion long-term debt. Senior executives at …
Editorial Setting aside funds for mine closure
When an orebody is depleted, mining companies have to ensure safe and complete mine closure, but that responsibility cannot be at such a cost that the mining operation itself becomes uneconomic. Miner…
Onitap and Orex settle dispute
Juniors Onitap Resources (TSE) and Exploration Orex (ME) announced at presstime they have settled their legal dispute concerning the Goldboro gold property in Nova Scotia. Orex, which initiated the la…