Quebec diamond plant opens
First Canadian Diamond Cutting Works, billed as Canada’s first fully integrated diamond cutting and polishing factory, has opened in Montreal.First Canadian has recruited experienced diamond cutters f…
News
MINING MARKETS & INVESTMENT NEWS — Placer offers to buy out Lassie Red Lake
Placer Dome (PDG-T) intends to take over junior Lassie Red Lake Gold Mines (LRLG-C) by increasing its ownership to 100% from the current 47.3%.Lassie owns five gold exploration claims adjacent to Plac…
MINING MARKETS & INVESTMENT NEWS — INSIDER TRADING — Kettle River insiders increase holdings
According to reports by the Ontario Securities Commission (OSC), four insiders of Kettle River Resources (KRR-T) bought shares and were granted options of that company in June and May.Ellen Clements, …
Claimstaker teams with Jipangu at Blackdome mine
Privately owned Jipangu will pay $2 million for a 35% interest in the Blackdome gold mine, near Clinton, B.C. The Tokyo-based firm can increase this to 50% by spending an additional $1 million before …
MINING MARKETS & INVESTMENT NEWS — INVESTMENT COMMETARY — Analyst looks for production boost at Nelson Gold’s operations
Gold projects in the former Soviet Union rarely deliver their riches to western companies without some associated heartache, but mining analyst Michael Jones of T. Hoare & Co. believes that Nelson Gol…
ASIA — Batu Hijau Newmont’s Indonesian crown jewel
A long-term approach to doing business in Indonesia is paying off for gold major Newmont Mining (NEM-N), which has one mine in the Southeast Asian country up and running and a second scheduled to come…
Avalon continues to reel in Big Whopper
With the benefits of newly exposed outcrop and a clearer geological understanding, Avalon Ventures (AVL-V) is preparing to carry out a bulk-sampling program and a third phase of drilling at its Separa…
Bright future for mining in India
Known more for mineral consumption than production, particularly in the case of gold, India is nonetheless becoming increasingly attractive to explorers, according to Kumara Rachamalla, president of M…
MINING MARKETS & INVESTMENT NEWS — U.S. MARKETS — Dow tops 9,000; mining stagnates
The Dow Jones Industrial average climbed above the 9,000 mark during the holiday-shortened report period of July 2-7. The Dow gained 87.68 points (or 1%) to close at 9,085.04.There were no fireworks a…
PRODUCER & DEALER PRICES (July 13, 1998)
Aluminium: LME settlements US$1,265.50, alloy US$1,195 per tonne (July 7/98).Antimony: Representative mid-market US$1,375 per tonne (July 7/98).Bismuth: Representative mid-market US$3.60 per lb. (July…
ASIA — Weda Bay develops nickel-cobalt prospect in Indonesia
Based on a recently completed evaluation study, Weda Bay Minerals (WDA-A) has resolved to proceed with development of its nickel-cobalt property on the Indonesian island of Halmahera.The project, in w…
GOLD FUNDS (July 13, 1998)
Gold Funds as of June 25, 1998BGRCentralNet Value$13.85$6.02Price$10.10$5…