NEWS ROUNDUP — Orvana explores Madhat project
The Madhat property on Vancouver Island will be further explored this year by Orvana Minerals (VSE). Exploration is being funded by partner Reynolds Metals, which can earn a 50% interest by spending $…
News
LAST BUT NOT LEAST — Eldor closes sale of Cameco shares
Canada Eldor, a wholly owned unit of federally owned Canada Development Investment Corp., has sold five million shares of Cameco (TSE) to the public at $20.50 per share. The sale reduces federal owner…
Spot prices at a glance (June 28, 1993)
Price (US) Week’s Change Gold* $367.00 – $3.00 Silver* $ 4.27 – $0.05 Platinum* $372.65 – $8.10 Nickel** $ 2.49 – $0.02 Lead** $ 0.18 $0.00 Copper $ 0.85 + $0.01 Zinc $ 0.42 $0.00 Courtesy of Scotiaba…
Demag wins bid for Coleraine plant
A consortium headed by German firm Mannesmann Demag has won the bid to build and operate a ferrochrome plant in Tracy, Que., for Ressources Minieres Coleraine (ME). Demag is the world’s leading manufa…
Orleans seeks funds to develop Quebec wollastonite play
Having advanced its St. Onge Twp. wollastonite deposit beyond the exploration stage, Orleans Resources (ME) is seeking additional funds for bulk-sampling and development. The project is “no longer an …
Zinc mine capacity too high
Zinc mine capacity has risen so high that a “structural” surplus now exists, according to Metals and Minerals Research Services (MMRS). The English firm goes on to say that the market will regain its …
Drilling under way at Jones Hill
Partners Aur Resources (TSE), Thunderwood Resources (TSE) and Champion Resources (VSE) have begun drilling the Jones Hill volcanogenic massive sulphide deposit near Albuquerque, N.M. Nearly 7,000 ft. …
Quebrada Blanca project on schedule and budget
Earlier this year, the sights and sounds of mine building in Chile were presented vicariously to shareholders attending the annual meetings of associated Toronto-listed companies Teck, Cominco and Com…
STOCK MARKETS — Windy Craggy gets chop, diamond news sparks
Mining in British Columbia (and by extension the rest of Canada) took it on the chin during the week ended June 22 when the NDP government of Michael Harcourt announced it would not approve the develo…
Location favorable to Minera’s Ivan copper project
Analyst Electa Aust, of S.G. Warburg Securities’ Bunting Warburg in Toronto, recently visited the Ivan project of Minera Rayrock in Chile and reviewed the exploration program planned by the company fo…
Option holders cash in on gold rally
The recent gold rally has enabled directors and officers of precious metal producers to profit handsomely on their options. According to the Ontario Securities Commission’s OSC Bulletin, recent inside…
Escondida built on risk-sharing
The Escondida copper mine in Chile started producing copper concentrates in December, 1990, after a two-and-half-year construction period. It was seven months early and US$320 million under budget. Th…