NEWS ROUNDUP — HudBay options Sask. copper bet
The exploration unit of Hudson Bay Mining & Smelting (TSE) has optioned a copper property in northern Saskatchewan from Copperquest (CDN). Previous work at the Knife Lake property outlined a zone of m…
News
Westmin losses cut to $3.7 million
Limited production has resumed at the Myra Falls base metals mine near Campbell River, B.C. Westmin Resources (TSE) suspended production earlier this year because of a labor dispute which is still ong…
NEWS ROUNDUP — Orex completes financing plan
Montreal-listed Orex Exploration (ME) has completed a financing agreement which will garner it $400,000. The company, based in Rouyn-Noranda, Que., will issue a million common shares and a million flo…
NEWS ROUNDUP — Cross Lake drills massive sulphides
Four holes have been drilled by Cross Lake Minerals (VSE) on its Sheraton-Timmins polymetallic project near Timmins, Ont. The first two were drilled to test a 1,200-metre-long electromagnetic (EM) con…
COMMENTARY — Cuba chases foreign investment
The demise of the Soviet Union has ironically left Cuba — romantically known as “the isle of eternal summer” — out in the cold. As a result, the country’s mining and metals sector is now desperately…
EXPLORATION ’93 — Holloway awaits feasibility study
A feasibility study expected early in the new year may determine the fate of the Holloway gold project in northeastern Ontario. Hemlo Gold Mines (TSE), with a 58% direct and indirect ownership interes…
Royal Oak overcomes technical problems
Third-quarter earnings of Royal Oak Mines (TSE) reflect problems at the company’s three Canadian gold mines, particularly the Hope Brook operation in Newfoundland. The company said both tonnage and gr…
NEWS ROUNDUP — Cathedral assays Kaburi project
Assays of channel samples from Cathedral Gold’s (VSE) Kaburi-Eldorado project in Guyana have proved interesting. Ten trenches were used to test a 650-metre section of the 1,500-metre-long Hicks shear …
METAL PRICES — FREE MARKET (November 29, 1993)
London Metal Exchange Spot closing prices in $US per tonne Date Nov. 23 Nov. 22 Nov. 19 Nov. 18 Nov. 17 Copper 1645-1646 1643-1644 1627-1628 1619-1620 1613-1614 Lead 402-403 400-401 400-401 397-398 39…
Spot prices at a glance (November 29, 1993)
Week’s Price (US) Change Gold* $376.10 + $2.40 Silver* $ 4.65 + $0.10 Platinum* $372.65 – $3.10 Nickel** $ 2.12 + $0.04 Lead** $ 0.18 $0.00 Copper $ 0.74 + $0.01 Zinc $ 0.42 $0.00 Courtesy of Scotiaba…
Gold Funds (November 29, 1993)
Gold Funds as of Nov. 23 BGR Central Net Value $15.02 $6.16 Price $13.88 $6.625 Premium 7.5% Discount 7.64% Value $84,154,000 $119,907,863…
Financing (November 29, 1993)
Callisto Res. — 1,600,000 shs @ 10 cents. Dalton Res. — 2,000,000 shs @ 10 cents. Early Res. — 1,500,000 shs @ 10 cents. Euro-Nevada Mining — 1,100,000 units consisting of sh and purchase wt @ $38…