Spot prices at a glance (June 12, 1989)
Week’s Price (US) Change Gold* $375.50 $12.00 Silver* $ 5.40 +$ 0.18 Platinum* $507.75 +$ 6.50 Nickel** $ 5.86 +$ 0.01 Lead** $ 0.32 +$ 0…
News
Survey hits strong anomaly in unexplored area of Gaspe
A geochemical study conducted by the Geological Survey of Canada has come up with some interesting base metal anomalies in a relatively unexplored area south of Rimouski, Que. The GSC says it receiv…
Mining Congress calls for deepsea research
The American Mining Congress (AMC) has called for the reauthorization of the Deep Seabed Hard Mineral Resources Act for a further three years at an annual funding level of $1.5 million(US). The AMC to…
China opening Toronto office for trading of non-ferrous metals
China is bringing its direct approach in the buying and selling of non-ferrous metals to Canada. The China National Nonferrous Metals Import & Export Corp. (CNIEC) has been active in the purchase of C…
Noranda increases stake in Falconbridge to 25%
It may be that Noranda Inc. (TSE) was simply trying to consolidate its status as Falconbridge Ltd.’s (TSE) largest shareholder when it bought 3.5 million of the nickel miner’s common shares recently f…
Australian companies in deal Control of Cinola changes hands
The large scale Cinola gold project located in the Queen Charlotte Islands of British Columbia is falling increasingly into the hands of Barrack Mines Limited of Australia. Barrack is a diversified mi…
IOCC GOLD OPTIONS (June 12, 1989)
Options Open Series Volume Last Interest Aug 370 C 168 12.00 514 Aug 380 C 240 8.50 1,060 Aug 400 C 110 3.50 2,555 Aug 420 C 1,380 …
EMR announces grants
The federal Ministry of Energy, Mines and Resources has announced $1.39-million worth of research grants for 1989-90 to 38 universities and provincial institutes. Mining and minerals research will rec…
Metall to buy seven mines from West German parent
Toronto-based Metall Mining (TSE), which recently acquired a large copper mine, smelter and refinery in Michigan for $83 million, is planning to add interests in an additional seven mines this year to…
New CANDU 3 reactor holds key to the nuclear industry’s future
The nuclear energy industry may be down in the dumps but in Canada the industry is looking forward to a resurgent market in the mid-1990s. In particular, Atomic Energy of Canada Ltd. (AECL) has design…
Tri-Valley awards Alaska contract
A Montana- based company has been awarded a contract to mine and process gold ore from one square mile of Tri- Valley Corp.’s Richardson lode project near Fairbanks, Alaska. Tri- Valley trades over th…
St. George farms out U.S. properties
Through its U.S. subsidiary, St. George Minerals (VSE) has signed two letter-of- intent agreements for the exploration and development of its mining claims in the Battle Mountain district of Nevada. T…