Gold Funds (May 22, 1995)
Gold Funds as of May 16BGRCentral .TNet Value$17.25$6.66Price$14.38$6.625 Discount16.65%0.5% Value$134,841,000$119,907,863…
News
FirstMiss gets nod from IRS
The Internal Revenue Service will allow FirstMiss Gold (NASDAQ) to be spun off, tax-free, from parent First Mississippi (NYSE).The ruling allows the parent to distribute to its stockholders its 14.7 m…
Gold price will be determined by U.S. fund activity
Despite little variation in the gold price of late, several components in the supply-demand equation have changeddramatically.Such was the gist of a luncheon presentation, held in Toronto, by London-b…
Bre-X adds to Busang resource
With the third phase of drilling at their Busang gold project in Indonesia almost complete, Bre-X Minerals (ASE) and parent company Bresea Resources (ME) are confident reserves will exceed expectation…
Arauco begins trenching at Guindo
A large-scale trenching program is about to begin at Arauco Resources’ (VSE) Guindo gold property in southern Chile.To date, geochemical sampling and hand-trenching haveidentified at least five minera…
STOCK MARKETS — Labrador play sends waves throughout western markets
Western markets cooled over the reporting period ended May 16, 1995, with the Vancouver Stock Exchange resource index edging up 4.08 points to 1,302.61 while the composite index tacked on 1.84 points …
Toronto Stock Exchange Indices (May 22, 1995)
— 1995 — .TMay 16May 15May 12May 11May 10HighLowComposite”300″4345.614310.784268.414264.094281.244346.633983.34 Metals&Minerals4123.454058.883983.873953.443956.394337.89 327…
METALS COMMENTARY — World markets affected by consolidation
Oscillating prices, currency upheavals and speculative gains and losses continue to characterize global metal markets.The bull market in metals, which began late in 1993, entered a period of consolida…
Copper smelter profits dragging
Copper prices have risen dramatically this year, but smelters (which turn concentrate into metal) are experiencing depressed profits, says CRU International of London.The consulting firm recently rele…
Band-Ore explores Timmins property
Burlington-based junior Band-Ore Resources (CDN) has acquired the Schist Lake gold property near Timmins, Ont.The property encompasses the Cryderman gold occurrence, where gold is hosted within a high…
METAL PRICES — FREE MARKET (May 22, 1995)
London Metal Exchange .TSpot closing prices in $US per tonne DateMay 16 May 15May 12May 11May 10Copper2758-2759 2742-27432764-27652729-27302733-2734 Lead594.5-595.5 586-587 580.5-581.5 57…
Echo Bay selling Kensington stake
Toronto-listed Echo Bay Mines will sell its half interest in the Kensington gold project in Alaska to joint-venture partner Coeur d’Alene (NYSE), thereby ending a dispute between the two companies.The…