Spot prices at a glance (February 08, 1993)
Week’s Price (US) Change Gold* $329.60 – $1.00 Silver* $ 3.67 – $0.01 Platinum* $359.60 – $3.90 Nickel** $ 2.62 – $0.01 Lead** $ 0.19 $0.00 Copper $ 1.01 – $0.01 Zinc $ 0.50 + $0.02 Courtesy of Scotia…
News
METALS MARKETS — High metal inventories a concern
The recession and the subsequent rise in metal inventories continue to generate misery and further announcements of cutbacks in the mining industry. Metal consumption is down almost everywhere to some…
Thermal to test potential of Labrador Trough property
With its Williams Creek copper project entering the feasibility stage, Thermal Exploration (ASE) has turned to the Labrador Trough of northern Quebec for new reserves. This year, the California-based …
Eden Roc aims for higher output
Annual gold production of 100,000 oz. within three years is projected by Eden Roc Mineral (TSE). Chairman Harry Quint made the prediction at an analysts meeting in New York City. He said Eden Roc, wit…
Sutton drilling returns nickel
Drilling on the Kabanga nickel project in northwestern Tanzania returned a number of wide intersections for owner Sutton Resources (VSE). The drilling included a 16.09-metre intersection in one of the…
INSIDER TRADING — Attenborough bails out of Canhorn
Assistant Secretary Bruce Attenborough sold his holdings in Canhorn Mining (TSE) at the end of December, when the stock was trading at 5-year highs on speculation over a diamond concession in Africa. …
Cambior boosts gold output (February 08, 1993)
Gold production in 1992 increased by 13% to 354,240 oz., Cambior (TSE) reports. Higher output at the Mouska and Silidor mines in northwestern Quebec and at the Valdez Creek placer project in Alaska wa…
Davy awarded Cayeli contract
A contract for monitoring and contract compliance services at the Cayeli Bakir Isletmeleri AS copper-zinc project in Turkey has been awarded to the Toronto office of Davy International. An engineering…
Possibilities for foreign investment expanding in CIS
A mining delegation to the Commonwealth of Independent States (CIS) late in 1992 found that investment opportunities are more favorable than in the previous year, although the political risks are stil…
STOCK MARKETS — Precious metal producers respond to gold
A slight increase in the gold price during the week ended Jan. 26 drew a strong response from The Toronto Stock Exchange’s gold issues, which beat out diamond stocks as the most active traders for the…
STOCK MARKETS — Venezuelan Goldfields continues healthy
Western markets continued to gain ground during the week ended Jan. 26, with the primary focus still centred on the Kilometre 88 area of Venezuela. The Vancouver Stock Exchange resource index posted a…
Falconbridge, Dickenson cut staff
Staff cuts have been announced at Falconbridge’s Sudbury Division and Dickenson Mines’ (TSE) Arthur W. White Mine near Red Lake, Ont. To counter the effects of rising world nickel inventories and the …