De Beers’ buying buoyed ’92 market
The world’s premier miner and marketer of diamonds is confident it can manage the type of threats to price stability that occurred in 1992, should they recur this year. “Our first three diamond sales …
News
PEOPLE — HIGHGRADE VENTURES (May 31, 1993)
Randolph Graves elected president and director; George Heras and J. Heras appointed directors.
PEOPLE — AU RESOURCES (May 31, 1993)
Jack Day appointed director.
Southern Peru Copper
Southern Peru Copper has signed an agreement with Corporacion Andina de Fomento of Venezuela for a $60-million financing to build two solvent extraction-electrowinning plants in Peru.
Firstmiss Gold posts $4 million loss
Several factors have contributed to a loss of $4 million in the third quarter for Firstmiss Gold (NASDAQ). These include a $1-million writedown of low-grade ore stockpiles, high operating costs due to…
STOCK MARKETS — Dia Met hits new high of $62 on bulk-sample
Speculation over upcoming bulk-sample results from the Lac de Gras area of the Northwest Territories sent Dia Met Minerals to a high of $62 for a gain of $9.13 during the week ended May 25. Waiting an…
STOCK MARKETS — Resource index on VSE surges to record
With gold holding on to gains, and diamond stocks generally steady, the Vancouver Stock Exchange resource index continued its upward sprint, finishing the week ended May 25 up more than 70 points at a…
Temisca drilling Quebec gold play
Drilling has begun on the East-Bay gold property of Ressources Temisca (ME), northeast of Rouyn-Noranda, Que. The program is funded and operated by Soquem which is earning a 50% interest.
Placer sells bonds (May 31, 1993)
Toronto-listed Placer Dome has agreed to sell US$200 million in bonds to underwriters, for distribution in the U.S. The 718% notes, due May 15, 2003, have been priced at 99.813%. The bonds are being o…
East meets West on the diamond trail — Russians study
He has yet to visit the Lac de Gras diamond exploration camp of the Northwest Territories, but Nikolai Sobolev is not surprised that the primary exploration method used involves tracing indicator mine…
NEWS IN BRIEF (May 31, 1993)
Akiko-Lori Gold Resources (AKI:VSE) and Omega Gold Corp. (OGC:VSE) have amalgamated to form Akiko Gold Resources Ltd. (AKI:VSE) with a consolidation of capital as follows. Shareholders of Akiko-Lori r…
Selbaie mine may be sold to Gencor
The Selbaie copper-zinc mine near Matagami, Que., may be sold to Gencor. The South African company has bid on selected metals and minerals operations owned by Billiton Metals Canada. Negotiations are …