GOLD FUNDS (July 19, 1993)
BGR Central Net Value $14.09 $6.42 Price $13.50 $7.125 Discount 4.2% 11.0% Value $70,934,000 $128,957,513…
News
Metals sub-index off slightly in May
The metal and mineral sub-index of The Bank of Nova Scotia’s commodity price index declined in May for the fourth consecutive month. The index is almost at the depressed level of the mid-1980s. Econom…
Spot prices at a glance (July 19, 1993)
Week’s Price (US) Change Gold* $395.70 – $1.55 Silver* $ 5.10 – $0.07 Platinum* $407.35 – $1.40 Nickel** $ 2.31 – $0.03 Lead** $ 0.17 $0.00 Copper $ 0.86 – $0.02 Zinc $ 0.43 + $0.01 Courtesy of Scotia…
Russian gold mine — Cyprus to develop Russian bet
A joint venture formed by a unit of Cyprus Minerals (NYSE) and five Russian partners has won a bid to develop a gold mine in the Madagan region of far-eastern Russia. The advanced Kubaka mine project …
COMMENTARY — Gold price moves higher
There seems to be a cyclical element in the Western world’s gold production. It took 15 years, from 1951 to 1966, for annual production to rise by 75% to 1,285 tonnes (reflecting the development of th…
STOCK MARKETS — Gold bug party ends abruptly as TSE gold
The biggest one-day plunge on the Toronto Stock Exchange since 1990 was felt throughout the market sectors, but the overheated gold stocks were hit the hardest. Following a 20% run-up in the market du…
Latest Verneuil drilling returns lower gold values
Drilling at the Verneuil Twp. gold property of Golden Tag Resources (VSE) and Consolidated Gold Hawk Resources (ASE) in northwestern Quebec intersected the shear zone in almost every hole targeted in …
Goldsmith cuts Newmont interest
A couple of shareholders of Newmont Mining (NYSE) are reducing to minority status their combined holding in the Denver-based company. General Oriental Investments and RIT Capital Partners Group (both …
STOCK MARKETS — Gold price surge adds fuel to Western
A surge in the price of gold, to the US$390-per-oz. level helped propel the Vancouver Stock Exchange resource index to a high of 1,449.07 before settling for a 93.88 gain at the 1,430 level. The compo…
METAL PRICES — FREE MARKET (July 12, 1993)
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date July 6 July 5 July 2 July 1 June 30 Copper 1939-1940 1946-1947 1923-1924 1914-1916 1…
Argentine deposit set for development
With virtually no significant mining history yet a geological setting similar to that which hosts most of the major copper and precious metal deposits in Northern Chile, Argentina is being touted as S…
FACTS & FIGURES — Significant drilling exploits
Long recognized as the Canadian West Coast’s worst underwater shipping menace, the twin peaks of Ripple Rock in Seymour Narrows lie just nine feet below the water’s surface at low tide. The “Rock,” ab…