NEWS IN BRIEF (December 07, 1992)
Buffalo Resources Ltd. (BUF:VSE) has changed its name to Kruger Explorations Ltd. (KRU:VSE) with a consolidation of capital on a 1-new-for-4-old-share basis.
News
Spot prices at a glance (December 07, 1992)
Week’s Price (US) Change Gold* $335.10 + $0.35 Silver* $ 3.76 $0.00 Platinum* $361.50 + $5.25 Nickel** $ 2.53 + $0.06 Lead** $ 0.21 $0.00 Copper $ 0.98 + $0.01 Zinc $ 0.48 $0.00 Courtesy of Scotiabank…
Newmont active at Ivanhoe venture
With leaching continuing at the Ivanhoe joint venture in Nevada, Cornucopia Resources (TSE) reported net earnings for the quarter ended Sept. 30 of US$76,000 on sales of US$643,000. Now a joint ventur…
Reserves rise at Noble Peak zinc project
Ore reserves at Noble Peak Resources’ (ASE) Crypto zinc property near Salt Lake City, Utah, are nearing the 10-million-ton threshold needed for commercial production, shareholders were recently told a…
EXPLORATION ’92 — Summer production planned for La Colorada
Full-scale gold production is being planned for next summer at the La Colorada project near Hermosillo, Mexico, held by private company Eldorado and a unit of Campbell Resources (TSE). Eldorado, which…
METAL MARKETS — Devaluation of dollar helps Canadian
The drop in world metal consumption is adding to miners’ woes as producer and terminal market metal stocks rise to the highest levels in recent years. In reaction, prices are slipping as consumers res…
Kennecott drops Lockwood property
A unit of Kennecott recently terminated an option to earn an interest in the Lockwood volcanogenic massive sulphide property near Everett, Wash. The project is owned 65% by Island-Arc Resources (VSE) …
Barrick extends search for new mines
The game plan of American Barrick (TSE) from the beginning has been to use hard cash to buy partly developed mining properties and then take them into production. Or, the Toronto-based gold producer h…
Echo Bay developing pair of Alaskan projects
Gold producer Echo Bay Mines (TSE) has two major development projects in southeast Alaska, Alaska-Juneau and Kensington. Together, they have the potential to increase annual gold production by about 4…
EXPLORATION ’92 — LATIN AMERICA ROUNDUP — Menora acquires
Toronto-based Menora Resources (ME) says it has acquired an exclusive lease over the Estrella del Norte gold project in the Mexican state of Zacatecas. The company says it will continue to test the pr…
GUEST COLUMN — Journey to China’s nickel heartland
On Oct. 16, along with four colleagues from the mining and brokerage communities, I left for China on a 16-day fact-finding mission. Our visit was divided into four areas: Beijing, where the centre of…
Drift from Joubi reaches Dubuisson East property
Operator Western Quebec Mines (TSE) expects to be hauling ore from the Dubuisson East deposit near Val d’Or, Que., before month-end after completing a 1,000-metre drift from its neighboring Joubi gold…