Spot prices at a glance (January 31, 1994)
Week’s Price (US) Change Gold* $381.00 – $11.70 Silver* $ 5.08 – $0.24 Platinum* $380.60 – $12.90 Nickel** $ 2.59 – $0.04 Lead** $ 0.23 $0.00 Copper $ 0.83 – $0.02 Zinc $ 0.45 – $0.01 Courtesy of Scot…
News
Correction (January 31, 1994)
The substantial liabilities attributed to Milner Consolidated Silver Mines (ASE) (T.N.M., Jan. 17/94) were incorrect. Milner has a working capital of $1.7 million and Minerales de Copan S.A. de C.V. h…
Pacific Rim program testing previously drilled Oculto zone
The first of a 5-hole program on the Diablillos project in Argentina has returned an encouraging intersection. Pacific Rim Mining (VSE) reports a 326-ft. interval grading 0.12 oz. gold and 25.6 oz. si…
Sherritt plans share issue
Nickel refiner Sherritt (TSE) will raise $194 million by issuing 18.5 million shares, on a bought-deal basis, at $11 each. The agreement, scheduled to be completed Feb. 10, is subject to regulatory ap…
LATIN AMERICA ROUNDUP — Atna to buy Cumbre gold
Junior Atna Resources (VSE) can acquire a 75% stake in the Cumbre gold property in Chile. To do so, it has paid US$3,500 to owner Princeton Mining (TSE). It must pay a further 50,000 shares on signing…
LATIN AMERICA ROUNDUP — Musto considering offers
Vancouver-based International Musto Explorations (TSE) has received offers both to joint-venture and, alternatively, sell its interest in the Bajo de la Alumbrera gold-copper deposit in Argentina. A f…
Asia Minerals to evaluate polymetallic project in China
An agreement with Chinese officials allows Asia Minerals (ASE) to evaluate yet another polymetallic mineral project in the Asian country. During the past few years, the junior has evaluated several mi…
M.I.M. selling Granges stake
Australian-based M.I.M. Holdings has notified Granges (TSE) that it intends to sell all of its 12.7 million common shares of the company. The shares will be sold for not less than $4 per share, or on …
Nebex expands its exploration base
With an expanded gold and base metal property in New Brunswick and three gold concessions in the Northwest Territories, Nebex Resources (ASE) is preparing for a busy spring and summer. The company rec…
Barrick interested in Bre-X
A junior searching for gold and base metal projects in Indonesia has caught the eye of one of North America’s largest gold mining companies. In a written proposal, American Barrick Resources (TSE) has…
Stratmin to fund pilot mill project
Graphite producer Stratmin (ME) has completed a private placement of 1.7 million shares and an equal number of warrants. The warrants are exercisable for one year at 52 cents each. The placement raise…
Vengold acquiring Mt. Kare stake
An agreement with an Australian mining company, Ramsgate Resources, sets the stage for Venezuelan Goldfields (TSE) to acquire up to 64% of the hardrock rights of the Mt. Kare gold property in Papua Ne…