Gold price continues to tumble
Gold prices dropped to 3-year lows in early January, hitting a London spot price of US$356.60 per oz. on Jan. 8, down $12.80 from Dec. 27, 1996.The tumble comes after spot prices peaked above US$400 p…
News
LETTER TO THE EDITOR — Interference by Indonesian gov’t reminiscent of NEP
A paragraph in your editorial on Bre-X Resources, Barrick Gold and the Indonesian government, entitled “Hardball or spitball?’ (T.N.M., Dec. 9/96), represents an unbelievable zenith of naivete on your…
La Chicharra returning gold for Geomaque
The latest round of drilling on the Chicharra gold target in Mexico’s Sonora state has returned encouraging results for Geomaque Exploration (GEO-T).The Chicharra lies 2.5 km northwest of the company’…
THE DIAMOND PAGE — Rex confirms impressive grades
Rex Diamond (RXD-T) has confirmed that its kimberlites at Tongo Fields in Sierra Leone rank highly among world diamond deposits.The company states the diamonds have an average value of US$175 per cara…
LME Warehouse Levels (January 13, 1997)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Jan.6/97 (change from previous week in brackets):Aluminium957,375(+6,100)Copper134,700(+9,350)Lead118,400(-200)Nickel49,116…
Formation buoyed by Black Pine results
Limited follow-up drilling at the Black Pine cobalt-copper-gold project in Idaho has returned encouraging results for Formation Capital (FCO-T).To test previously discovered exhalative, stratabound mi…
Sonoma drill-tests Argentine copper-gold project
A 10-hole program of diamond drilling is enabling Sonoma Resource (SNA-V) to test the Cerro Toro project in Argentina.Believing a copper-gold porphyry system exists at depth, the junior is focusing it…
THE DIAMOND PAGE — Caldera targets Edward Creek
An aeromagnetic and radiometric survey by Caldera Resources (CDR-M) has outlined 22 possible kimberlite structures at the Edward Creek property in the Lake Eyre region of South Australia.Caldera, whic…
Toronto Stock Exchange Indices (January 13, 1997)
1996Jan 7Jan 6Jan 3Jan 2Dec 31Dec 30HighLow…
Chase Resource and Delta Gold propose consolidation
Sister companies Chase Resource (CQS-T) and Delta Gold Mining (DTG-V) have agreed to amalgamate into a new entity, which will retain the former’s name.The move will consolidate the partners’ interests…
LETTER TO THE EDITOR — Researcher seeks answers regarding gold-supported buck
The research for my proposal “A Gold-Backed North American Dollar’ has now reached the point where outside help is required.With this proposal, I am working to improve the idea that the government can…
INVESTMENT COMMENTARY — Star performer Aurizon expected to reach new production levels in ’97
A reserve of working capital, combined with a solid past performance, suggests that Aurizon Mines (ARZ-T) can look forward to a good year, according to analyst Donald Poirier of McDermid St. Lawrence …