METAL PRICES (June 22, 1992)
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date June 16 June 15 June 12 June 11 June 10 Copper 1222-1223 1223-1224 1224-1225 1220-12…
News
The future of research in exploration
The Mineral Deposit Research Unit (MDRU) at the University of British Columbia (UBC) organized a research meeting recently on the theme “The future of research in economic geology.” The purpose was to…
Kangaroo coin top seller in ’91
The Kangaroo Nugget gold bullion coin of Australia was the top-selling gold coin in the world in 1991. The World Gold Council, an international association of major gold producers, reported that the A…
Goldbelt set to close Comptoir acquisition
Robert Swenarchuk, a spokesman for Goldbelt Resources (VSE), said the company expects to complete the acquisition of Comptoir International du Commerce by July 1. Comptoir, a Luxembourg company, has a…
Keylock venture in Czechoslovakia
Calgary-based Keylock Resources (ASE) says it has agreed to form a joint venture with Czechoslovakia’s state mining company, Rudne Bane. Under a 50-50 partnership, the two companies will evaluate all …
EDITORIAL PAGE (June 15, 1992)
The average rate of inflation in the developing countries fell to 49.3% in 1991, from 104.7% in 1990, according to data in the April, 1992, issue of the International Monetary Fund’s International Fin…
Gibraltar testing North zone
A 25,000-ft. drilling program recently started on the Jan/Summit claims owned by Newcoast Silver Mines (VSE) and Gibraltar Mines (TSE). Newcoast holds a 30% net profits interest in the claims with Gib…
PEOPLE (June 15, 1992)
Frederick Lee appointed president.
Echo Bay plans sale of convertible preferred shares
Gold producer Echo Bay Mines (TSE) has given notice to the U.S. Securities Exchange Commission of its intention to file a preliminary prospectus for the sale of US$100 million in convertible preferred…
NEWS ROUNDUP (June 15, 1992)
A study by The Gold Institute of Washington, D.C., says the U.S. Treasury is not an active participant in the gold market and that the country’s gold reserve is unlikely to be sold, or used in gold lo…
Sutton negotiating joint venture
After signing an exploration agreement with the Tanzania government, Sutton Resources (VSE) announced it is negotiating with a multinational major mining company to work jointly on part or all of its …
RTZ sells stake in Rio Algom to simplify holdings
British mining giant RTZ has elected to sell its 51.5% stake in Rio Algom (TSE) for $362.3 million as part of a plan to streamline its North American holdings. In a press release, RTZ said it was sell…