LME WHSE LEVELS (April 07, 1997)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Mar.31/97 (change from previous week in brackets):Aluminium853,000(-2,525)Copper177,250(-6,225)Lead106,925(-500)Nickel47,862…
News
Bre-X’s credibility undermined as suspicions mount — Assay lab’s results are only as good as the samples it receives
A month ago, it was reputed to be sitting on the largest gold find of the century, but the ground is now shaking beneath Bre-X Minerals (BXM-T), operator of the Busang gold project in eastern Kalimant…
LETTER TO THE EDITOR — Protecting investors should be the top priority
For most investors, the world of junior mining companies is akin to the Twilight Zone, where it becomes virtually impossible to differentiate between reality and fiction. In the past year alone, we’ve…
LATIN AMERICA — Bahuerachi drilling intersects copper in Mexico
Diamond drilling on the Bahuerachi copper oxide property in Mexico has yielded favorable results for equal partners Golden Rule Resources (GNU-T) and Tyler Resources (TYS-T).Situated in southwestern C…
Nelson Gold plans expansion at Jilau mine — Project to carry a capital cost of $11.8 million
With a positive feasibility study in hand, Nelson Gold (NLG-T) is proceeding with another phase of its expansion program at the Jilau gold mine in Tajikistan.Nelson holds a 44% interest in Zeravshan G…
LATIN AMERICA — Canarc starts core drilling
Canarc Resource (CCM-T) has started a 10-hole diamond drill program to test the depth potential of gold mineralization in laterite at its Sara Kreek property in Suriname.Trenching and auger drilling h…
LATIN AMERICA — Consolidated Nevada irons out wrinkles in Mexico — Mines acquired in 1996 merger experience various setbacks
Four mines recently acquired in Mexico by Consolidated Nevada Goldfields (KNVCF-Q) are yielding mixed results.The Denver-based company took on the mines following a merger, in October 1996, with Mexic…
GREATEST VALUE TRADED (April 07, 1997)
ExchgValue(000s)HighLowCloseChangeBarrick GoldT12…
STOCK MARKETS — Great Bre-X belly-flop sinks entire gold market
Widespread carnage among TSE golds; base metals also take a bashing The report period ended April 1 was no joke at the Toronto Stock Exchange, where the Bre-X Minerals bomb of the previous week turned…
LATIN AMERICA — Trans Hex explores for alluvial diamonds in Brazil — Company owns non-South African alluvial diamond projects
Toronto-based Trans Hex International (THI-T) is nearing the advanced stage of exploration at its Acordo alluvial diamond project in central Brazil.THI is a 65%-owned subsidiary of Trans Hex Group, So…
DIAMOND PAGE — Messina collecting bulk samples from prospect in Lesotho
Junior Messina Diamond (MSC.U-T) has received encouraging results from the first phase of exploration at its Liqhobong project in the south African country of Lesotho.The project consists of two kimbe…
LATIN AMERICA — Piedras Verdes gets confidence boost
Favorable results from exploration in 1996 have prompted partners Azco Mining (AZC-T) and Phelps Dodge (PD-N) to initiate a US$4.8-million program at the Piedras Verdes copper project in Sonora state,…