Macassa rescue effort continues
A rescue effort to find two miners trapped underground at the Macassa gold mine of Lac Minerals (TSE) west of Kirkland Lake, Ont., continued at presstime. The pair, identified as Robert Sheldon, 34, a…
News
METAL PRICES (December 13, 1993)
London Metal Exchange Spot closing prices in $US per tonne Date Dec. 7 Dec. 6 Dec. 3 Dec. 2 Dec. 1 Copper 1678-1679 1671-1672 1656-1657 1665-1666 1643-1644 Lead 447-448 443-444 433-434 431-432 430-431…
LAST BUT NOT LEAST — Brenda sells oil and gas
By selling its remaining oil and gas assets in Australia, Brenda Mines (TSE) hopes to add $1.9 million to cash reserves. As of June 30, 1993, Brenda had a cash position of more than $107 million. It i…
NEWS IN BRIEF (December 13, 1993)
Kemano Resources (KRL.A:ASE) and Canadian Northcor Energy have amalgamated to form Purcell Energy (PEL:VSE). Kemano shareholders receive 0.9 new for one old share and Canadian Northcor Energy sharehol…
LAST BUT NOT LEAST — Horsham grosses $US550 million
Toronto-listed Horsham has completed a 25-year debt financing with gross proceeds of US$550 million. The debentures will carry an interest rate of 3.25% and be indexed to the common share price of ass…
LAST BUT NOT LEAST — Cyprus to explore Guinea
Under an agreement with Guinean government, Cyprus Amax Minerals (NYSE) can explore for gold in the region known as Mandiana Prefecture. The area has an extensive gold mining history, with some deposi…
LAST BUT NOT LEAST — Private placement by SouthernEra
Diamond explorer SouthernEra (TSE) has completed a private placement of 1.4 million units to a group of European investors. Each unit consists of one common share and one half-share purchase warrant a…
PRODUCER PRICES (December 13, 1993)
ALUMINUM: MW U.S. market US51.0-51.5 cents per lb. (Nov. 25, 1993). ANTIMONY: MW New York dealer US76-80 cents per lb. (June 10, 1993). BISMUTH: MW New York dealer US$2.35-2.65 per lb. (Sept. 23, 1993…
Inter-Rock drills Daisy gold project
To increase reserves, Inter-Rock Gold (ME) is drilling on the Daisy gold project in southern Nevada. The 20-hole reverse circulation program will total 11,000 ft. The cost will be US$300,000. The comp…
Fairfield completes bulk sampling
Based on underground test mining at its Siwash North gold project near Merritt, B.C., Fairfield Minerals (TSE) estimates mining costs will be less than US$150 per oz. A 230-ton bulk sample mined from …
TORONTO STOCK EXCHANGE INDICES (December 13, 1993)
— Week — Dec 7 Dec 6 Dec 3 Dec 2 Dec 1 High Low Composite “300”4265.48 4235.99 4239.36 4226.32 4220.37 4266.01 4218.31 Metals & Mnrls 3434.12 3298.70 3280.84 3291.72 3290.08 3435.21 3270.93 Integrat…
OBITUARY — Robert Stevenson
Geological engineer Robert Stevenson has died suddenly in Vancouver. He was 67. A native of Hamilton, Ont., he graduated in 1952 from the University of Toronto with a BASc. degree in mining geology. H…