SPOT PRICES (September 21, 1998)
Wednesday September 16, 1998Price (US)Week’s ChangeGold*$289.15+$5.00Silver*$ 4.95…
News
MINING MARKET & INVESTMENT NEWS — WESTERN MARKETS — VSE edges down; combined value ASE gains
The Vancouver Stock Exchange composite index edged down 1.34 points, or 0.3%, to finish the Sept. 9-15 period at 407.05. The mining index lost 4.67 points, or 1.6%, to close at 281.85.The combined val…
MINING MARKET & INVESTMENT NEWS — EASTERN MARKETS — TSE falls while resource markets mixed
The Toronto Stock Exchange experienced a broad trading range over the Sept. 9-15 report period, with the 300 index shedding 120.01 points to end at 5,857.04.Resource stocks were mixed, with the gold a…
Homestake sweetens deal for Prime Resources
Homestake Mining (HM-N) has upped the ante for the remaining 49.6% of Prime Resources (PRU-T).According to an agreement reached by the board of directors of each company, Homestake will grant Prime’s …
Lac des les struggling for profits
Despite robust prices for platinum group metals, profits have remained elusive at the Lac des les mine near Thunder Bay, Ont., Canada’s only primary platinum group metals producer.In the first six mo…
EDITORIAL & OPINION — ODDS ‘N’ SODS — Water, water everywhere
Sometime in 1922, I got word that the Consolidated Coal Company in Fairmouth, W.Va., had a big shaft job up for tender.This company was said to be an interest of oil baron John D. Rockefeller and was …
EDITORIAL & OPINION — Court ruling respects small businesses — NWMA vs. Babbit
Small business and big government don’t always see eye to eye, and the greater the disparity, the greater the chances that might will overpower right. But that was not the case earlier this year, when…
Barrick options Rossi property in Carlin trend
In an effort to expand its holdings in Nevada’s Carlin trend, Barrick Gold (ABX-T) has entered a joint-venture agreement to explore the Rossi gold property, held by Meridian Resources (MNG-T).Barrick …
CORRECTION (September 21, 1998)
In our Aug. 24 report on the merger of Glamis Gold (GLG-T) and Mar-West Resources (MSR-V), we incorrectly stated that the latter’s president, Simon Ridgway, and vice-president of exploration, Robert W…
Oliver and Trillion plan merger
The directors of Oliver Gold (OGO-V) and Trillion Resources (TLQ-T) have agreed to merge their companies.Few details have been released, other than that a merger proposal will be mailed to shareholder…
Loubel acquires Lemoine gold property
Loubel Exploration (LBX-M) has boosted to 100% its interest in the Lemoine gold property, on the southern flank of the Chibougamau pluton in northern Quebec.For its additional 50% interest, Loubel wil…
Francisco boosts Sauzal resource
Junior Francisco Gold (FGX-V) has increased the indicated resource estimate at its wholly owned El Sauzal project in northern Mexico. The gold resource has grown by 370,000 ounces, or 12.5%, and now s…