PRODUCER PRICES (January 11, 1993)
ALUMINUM: MW U.S. market US57-58 cents per lb. (Dec. 25, 1992). ANTIMONY: MW New York dealer US78-88 cents per lb. (July 30, 1992). BISMUTH: MW New York dealer US$2.35-2.70 per lb. (Jun. 11, 1992). CA…
News
BHP ratifies Sutton option
Mining giant BHP Minerals International recently agreed to take up an option on the Kabanga and Kagera concessions in Tanzania from Sutton Resources (VSE). Under the terms of the previously announced …
Galleon, BMR in Madison deal
In an effort to attract a third party to further develop the Madison gold-copper property near Butte, Mont., owners BMR Gold (VSE) and Galleon Mining (VSE) plan to consolidate the holding. Galleon rec…
LATIN AMERICA — Jordex evaluates Anglo project offer
Management of Jordex Resources (TSE) is evaluating an offer from Anglo American of South America (AMSA) to acquire a majority interest in the Loma de Hierro laterite nickel deposit in Venezuela. The d…
Ontex raises exploration funds; court scheduled to hear
To raise funds for exploration on its Brookbank gold property near Beardmore, Ont., Ontex Resources (ASE) has reached an agreement-in-principle for a private placement of 500,000 units to a private co…
Echo Bay writes down investment in Kettle River mine
Denver-based Echo Bay Mines (TSE) says it will reduce the book value of its investment in the Kettle River gold property in Washington state and two exploration properties by a total of US$18.1 millio…
East West explores Quebec prospect
A program of grid cutting and electromagnetic (EM) surveys is under way on the Casa Berardi property of East West Resource (VSE) in northwestern Quebec. The company says that the EM surveys are being …
Cazador deadline is extended
A deadline to complete $400,000 of feasibility-related expenditures at the Keystone joint venture at Lynn Lake, Man., was recently extended to March 31, 1993, from the end of 1992. The deadline is par…
Aurex arranges financing for Chilean tailings project
A recently arranged private placement should give Aurex Resources (VSE) sufficient funds to complete a prefeasibility study on the Cauquenes tailings project in Chile. The placement, arranged through …
LATIN AMERICA — Canyon prepares for writedowns
Asset writedowns totalling about US$14 million are expected to be released by Canyon Resources (NASDAQ) for its 1992 fourth quarter ended Dec. 31. The Colorado-based company said the writedowns reflec…
EDITORIAL PAGE — The gold market
In terms of economic cycles, 12 years is a long time to wait for a turnaround. Patience may be a virtue, but for gold bugs, the return of the yellow metal’s price to some form of respectability is lon…
NEWS ROUNDUP — CanTung amalgamation approved
Shareholders of Canada Tungsten Mining, Canamax Resources and Minerex Resources approved an amalgamation plan at special meetings held recently in Toronto. With court approval also in hand, the compan…