Rio Algom terminates Key Anacon option
Citing the unlikelihood of finding a base metals deposit to meet its economic requirements, Rio Algom (TSE) has dropped its option on the Key Anacon Mines (TSE) property in the Bathurst camp of New Br…
News
Two Newmonts combine assets, reserves
Denver-based Newmont Mining and 90.1%-owned subsidiary Newmont Gold will combine their assets, gold reserves and operations. The plan calls for Newmont Mining to move all its operating assets, liabili…
Diamond play gains credibility in 93
If 1992 was the year diamond fever swept Canada, 1993 will be remembered for the solid exploration results that made even diehard skeptics concede that this country may soon have its first diamond min…
STOCK MARKETS — Resource stocks boost TSE indexes at
The resource stocks took one last kick at the can before the new year dawned. They boosted the Toronto Stock Exchange 300 Composite Index to a big gain on the last day of our report week. The TSE 300 …
MacArthur permits in hand
Permits for development of the MacArthur copper deposit are finally in hand for owner Arimetco International (TSE). The project is about five miles north of the companys Yerington copper mine near the…
1993 A LOOK BACK — Giant mine workers return
Union members at the Giant mine in Yellowknife, N.W.T., returned to their jobs in early December, ending a labor dispute dating back to May, 1992. Some 25 members of the Canadian Association of Smelte…
1993 A LOOK BACK — New U.S. mining royalty
Hard-rock miners in the U.S. operating on public land, including some Canadian gold producers, are facing a government-imposed royalty, but the amount was not settled in 1993. A proposal by the Clinto…
Flag resumes drilling Wanapitei anomaly
Drilling has resumed at Flag Resources (ASE) Wanapitei property near Sudbury, Ont. At presstime, a 1,700-ft. hole at Wolf Lake had been extended to 2,000 ft. on its way to a targeted depth of 3,000 ft…
Record price paid for Nymex seat
A seat on the New York Mercantile Exchange (Nymex) recently sold for a record US$400,000. The previous high of US$395,000 was set a few days earlier, which surpassed an earlier record value of US$350,…
GOLD FUNDS (January 03, 1994)
Gold Funds as of Dec. 28 BGR Central Net Value $15.78 $6.49 Price $14.25 $6.750 Premium 4% Discount 9.67% Value $88,367,000 $122,170,275…
Eden Roc sells warrants, explores Ivory Coast
Eden Roc Minerals (TSE) will soon have nearly $18 million to spend on its vast exploration territory in Ivory Coast. The company issued 3 million warrants through brokerage house Scotia McLeod. Each w…
COMMENTARY — Niobium: an important specialty metal
During the past 30 years, niobium has steadily emerged as an important specialty metal. In particular, steel-consuming industries have greatly benefited from the materials savings which result from us…