SPOT PRICES (June 01, 1998)
Wednesday, May 27, 1998Price (US)Week’s ChangeGold*$292.60- $5.50Silver*$ 5.09…
News
NovaGold extends Murray Brook zone
Junior NovaGold Resources (NRI-T) has drilled another five new holes at its Murray Brook polymetallic property in northern New Brunswick.Each hole was collared to test the down-plunge extension of a l…
AMF completes Idas purchase
Texas-based America Mineral Fields (AMZ-T) has completed its previously announced purchase of Idas Resources, a private company with a 50% interest in two large diamond concessions in Angola.The revis…
METAL PRICES — Daily Metal Prices (June 01, 1998)
BASE METALS (London Metal Exchange-Midday bid/ask prices in US$ per tonne)DateMay 26May 25May 22May 21May 20…
LME WAREHOUSE LEVELS (June 01, 1998)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at May 22/98 (change from May 18 in brackets):MetalStocks(tonnes)Change…
NEWS IN BRIEF (June 01, 1998)
Big I Developments (BID-V) has changed its name to Nustar Resources (NTR-V) on a 1-new-for-5-old-share basis.
MINING MARKETS & INVESTMENT NEWS — U.S. MARKETS –Dow and gold slide in tandem
The Dow Jones Industrial average continued its slow slide, finishing the May 20-26 report period down 90.92 points (1%) at 8,963.73. Trading was light because of the Memorial Day holiday May 25.All ma…
METAL FUTURES (June 01, 1998)
Settlement prices for London Metal Exchange spot metal and three-month contracts, May 26/98 (US$ per tonne):MetalsCash PriceThree Month Price…
MINING MARKETS & INVESTMENT NEWS – INVESTMENT COMMENTARY — Yorkton initiates coverage of Millstream
The deep drilling program at Millstream Mines’ (MLSM-C) Potter mine represents “one of the most promising current base metal exploration projects in Canada,” writes John Kallaway, mining analyst for Y…
MINING MARKETS & INVESTMENT NEWS – WESTERN MARKETS — St. Jude drilling excites Vancouver market
The Vancouver Stock Exchange composite index continued its downward trend, losing 11.36 points, or 1.8%, to end the May 20-26 report period at 603.21.The mining index also lost ground, slipping 7.44 p…
Canabrava drills for diamonds
Canabrava Diamond (CNB-V) is set to begin a first-phase drill program to test newly discovered kimberlites on the company’s Whitefish Lake property, 25 km northeast of Wawa, Ont.The property consists …
TSE SHORT POSITIONS (June 01, 1998)
Short positions outstanding at May 15, 1998Larger individual positions included:Agnico-Eagle Mines 71,450, down 299,505; Barrick Gold 14,349,342, up 726,130; Campbell Resources 2,488,739, up 382,109; …