Toronto Stock Exchange Indices (May 19, 1997)
1997May 13May 12May 9May 8May 7HighLowComposite”3…
News
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…
Aurizon shelves Vior’s Douay-Ouest — Reports $344,000 loss for first quarter
Citing low gold prices, Vancouver-based Aurizon Mines (ARZ-T) is delaying the development of Vior Mining Exploration’s (VIO-M) wholly owned Douay-Ouest property.The property is 50 km north of Aurizon’…
Barrick works to upgrade Diablillos project in Argentina — Company shares indirect interest in gold-silver project with Pacific Rim Mining
In an attempt to increase the resource of the Oculto gold-silver zone, Barrick Gold (ABX-T) has completed an 8,000-Metre drill program on the Diablillos property in the northwestern Argentine province…
Kenrich explores near Stewart, B.C.
Kenrich Mining (KRC-V) is carrying out a $1.6-Million exploration program on the Corey polymetallic property in northern British Columbia.Plans call for an airborne geophysical survey to be flown over…
Copper, lead prices affect Cominco’s earnings
While zinc prices were robust during the first quarter, copper and lead prices were not, resulting in a moderate decrease in earnings for Cominco (CLT-T).The company reported a profit of $21 million (…