Ottawa gold selling continues
All that government gold — 12.3 million oz. at the end of March — no longer glitters as it once did. However, despite depressed prices, there’s still a silver lining in those gold bricks gathering d…
News
LETTERS TO THE EDITOR (May 11, 1992)
In its 1990 annual report, Glimmer Resources stated it has reserves in Hislop Twp. in northeastern Ontario of 1.07 million tons (968,190 tonnes) grading 0.34 oz. gold per ton. When one compares this d…
Melinga drills Honduran property
A track-mounted reverse circulation drill was recently mobilized by Melinga Resources (VSE) to test recently identified geochemical and geophysical targets on the Macuelizo gold-oxide copper prospect …
Placer Dome cuts workforce at mines
Several Canadian mines owned and operated by Placer Dome (TSE) will be restructured in order to reduce operating costs and meet existing production targets with fewer employees. The initiative was not…
Latin American notes
United Nations officer Wolfgang Gluschke, in a Miami conference paper on mineral investment promotion: Most countries in Latin America have undergone considerable changes in the economic, social and p…
Vior expands new Douay zone
A new zone on the Douay gold property in Quebec’s Casa Berardi region has been outlined over a strike length of 1,000 ft., a width of 500 ft. and a thickness of 15-45 ft., reports Societe d’Exploratio…
Noranda may venture into magnesium
Faced with having to control capital expenses in tough economic times, Noranda (TSE) will cut its exploration spending to $112 million this year from $147 million in 1991, said President David Kerr at…
MINER DETAILS; Making royalties look easy
Mining can be a pretty terrible business. When commodity prices are up, companies make huge capital investments to develop a mineral deposit. The metal price inevitably falls and the company must suff…
Placer announces layoffs amidst gold-market slump
The slump in the gold industry finally extended its reach to Placer Dome’s Campbell mine in northwestern Ontario during the week ended April 28 when 99 employees learned that they were losing their jo…
Westmin closing Stewart mine
Full-scale operations at the Premier Gold project near Stewart, B.C., will be closed by June 30 of this year. Operator Westmin Resources (TSE) plans to continue exploring the area, and will continue m…
TSE STOCK EXCHANGE INDICES (May 04, 1992)
Composite “300” 3337.92 3326.45 3349.69 3371.47 3367.75 4009.47 3009.91 Metals&Minerals 2977.67 2976.85 2990.12 2991.22 2989.13 3453.06 2502.63 Integrated Mines 3160.78 3163.38 3176.46 3178.68 3176.07…
GOLD FUNDS (May 04, 1992)
Gold Funds as of Apr. 28 BGR Central Net Value $7.54 $4.99 Price $6.00 $4.400 Discount 20.41% 11.8% Value $44,887,000 $74,026,920…