SPOT PRICES (May 19, 1997)
Wednesday, May 14, 1997Price (US)Week’s ChangeGold*$349.00+ $8.35Silver*$ 4.87…
News
Abacus aims to expand Lookout zone
Exploration drilling is set to resume at the Niblack volcanogenic massive sulphide project in southeastern Alaska.Abacus Minerals (AMC-V) will focus on the gold-enriched Lookout zone, where last year’…
Cerro Colorado enters feasibility stage in Panama
Toronto-based Tiomin Resources (TIO-T) has awarded a contract to an independent engineering firm to study the feasibility of developing its Cerro Colorado porphyry copper deposit in Panama.Kvaerner Me…
STOCK MARKETS — Golds give further push to TSE 300 composite index — Junior issues add spark to Toronto market; precious metals strengthen
Fuelled by strong performances in the gold and base metal markets, the Toronto Stock Exchange 300 composite index gained a hefty 119.28 points, or 1.9%, to finish the report period ended May 13 at 6,2…
Toronto Stock Exchange Indices (May 19, 1997)
1997May 13May 12May 9May 8May 7HighLowComposite”3…
Bre-X files for protection from creditors — Directors resign as three exchanges delist stock
First, the gold project collapsed, then the share price. Now, Bre-X Minerals itself appears to be self-destructing.Following the damaging revelations of a technical audit on its Busang property in Kal…
Golden Hemlock plans more drilling in Sinaloa
Having carried out a first phase of exploration on its San Jose de Gracia gold project in western Mexico, Golden Hemlock Resources (GHE-V) is preparing to conduct follow-up drilling.The first phase co…
TSE Short Positions (May 19, 1997)
Short positions outstanding at April 30, 1997.Larger individual positions included: Barrick Gold 11,910,540, down 106,478; Antares Mining 207,000, up 71,800; Anvil Range 719,800; Bema Gold 4,373,886, …
Cons. Texas to explore MAC claims
Consolidated Texas Northern Minerals (CXH-V) will use the proceeds of an $826,000 financing to explore for diamonds on the MAC claims in the Lac de Gras region of the Northwest Territories.The company…
Wayside to buy rest of Cariboo
International Wayside Gold Mines (IWA-V) will buy, from partner Mosquito Consolidated Gold Mines (MSQ-V), the remaining half of the Cariboo Gold Quartz property that it does not already own.As part of…
METAL PRICES — Daily Metal Prices (May 19, 1997)
BASE METALS (London Metal Exchange – Midday bid/ask prices in US$ per tonne)DateMay 13May 12May 9May 8May 7…
Ajo copper mine to undergo improvements
Phelps Dodge (PD-N) will reopen the Ajo copper mine in southwestern Arizona.The company plans to spend US$238 million to refurbish the former open-pit operation. Construction is scheduled to begin ear…