1994

Ontario orders Denison to post $100 million bond

Already teetering on the verge of bankruptcy, Denison Mines (TSE) has been pushed even closer to the edge after being served two orders by the Ontario government to clean up its former uranium mining …


Saudia Arabia an oasis of exploration

Saudi Arabia is known primarily for three things oil, sand and petro-dollars. The Saudis want to add metal mining to that list. Few people regard the desert kingdom as holding out much hope for base o…


Table Mountain development going smoothly for Cusac

Murphys Law appears to have been repealed at the Table Mountain project near Cassiar, B.C. Cusac Industries (TSE) has found that the Michelle Highgrade zone is not under water as previously thought. I…


Rio Algom terminates Key Anacon option

Citing the unlikelihood of finding a base metals deposit to meet its economic requirements, Rio Algom (TSE) has dropped its option on the Key Anacon Mines (TSE) property in the Bathurst camp of New Br…


Flag resumes drilling Wanapitei anomaly

Drilling has resumed at Flag Resources (ASE) Wanapitei property near Sudbury, Ont. At presstime, a 1,700-ft. hole at Wolf Lake had been extended to 2,000 ft. on its way to a targeted depth of 3,000 ft…


Record price paid for Nymex seat

A seat on the New York Mercantile Exchange (Nymex) recently sold for a record US$400,000. The previous high of US$395,000 was set a few days earlier, which surpassed an earlier record value of US$350,…


GOLD FUNDS (January 03, 1994)

Gold Funds as of Dec. 28 BGR Central Net Value $15.78 $6.49 Price $14.25 $6.750 Premium 4% Discount 9.67% Value $88,367,000 $122,170,275…



Green light for Freeport expansion

By the end of 1995, Freeport-McMoRan Copper & Gold (NYSE) expects to have expanded its mine and mill in Indonesia. An expansion to 115,000 from 66,000 tonnes per day is planned. The completion is to b…


METALS MARKETS — Spot prices at a glance

Weeks Price (US) Change Gold* $385.65 – $0.75 Silver* $ 5.09 + $0.09 Platinum* $388.50 + $3.00 Nickel** $ 2.42 + $0.02 Lead** $ 0.22 + $0.01 Copper $ 0.82 + $0.01 Zinc $ 0.44 – $0.01 Courtesy of Scoti…


Cathedral Gold trenches gold

Further trenching on the Kaburi-Eldorado project in Guyana has returned more high-grade gold values. Cathedral Gold (TSE) is earning up to a 90% interest in the property which is 20 miles northwest of…


WCB rates to decrease for most miners in Ontario

At a time when its reputation is being seriously damaged by claims of financial mismanagement, the Ontario Workers Compensation Board (WCB) is sending a mixed message to the provinces mining sector. A…


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