Precious metals in price slump
A slight decline in metal prices in March didn’t prevent Scotiabank’s commodity price index from recording a small gain of 0.8%. Stronger forestry prices and a small gain in energy prices offset decli…
News
TSE Short Positions (May 18, 1992)
Semi-monthly reports as of April 30, showed 25,039,057 shares of 599 issues compared with 26,377,283 shares of 619 issues on April 15. Larger individual positions included: Amax Gold 18,400, down 103,…
Amax exercises Piedmont option
With the payment of US$1.75 million plus one million common shares of Amax Gold (NYSE), Amax recently exercised its option to earn a 62.5% interest in the Haile property from owner Piedmont Mining (NA…
KWG drilling Horne Fault claims
A $600,000 drill program funded by KWG Resources (ME) began recently on Horne Fault Mines’ (TSE) Lavoie Lake copper property in northwestern Ontario. KWG has the option to earn a 60% stake in a 96-uni…
Workplace health and safety a challenge for the 1990s
Work-related injury and illness not only cause an unacceptable level of pain and suffering, but the compensation costs, on average, amount to 4% of payroll. In 1991, the Ontario Workers Compensation B…
Kookaburra reviews Longshot assays
Drilling on the Longshot Ridge copper oxide project owned by Kookaburra Gold (VSE) was recently completed with assays for four of 10 holes released. Rennie Blair, president, said the company drilled o…
Merger proceeds smoothly between Homestake, Corona
The proposed merger between Homestake Mining (NYSE) and International Corona (TSE) is moving steadily toward completion, Corona President Peter Steen told shareholders at the company’s recent (and pos…
Beaufield acquires claims near Benoit
In return for $13,000 and 500,000 shares, Beaufield Resources (TSE) has acquired a 75% interest in three claim groups in Wilson, Verneuil and Ralleau twps., east of Quevillon, Que. Totalling 117 claim…
METAL PRICES (May 11, 1992)
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date May 5 May 4 May 1 Apr 30 Apr 29 Copper 1231-1232 NA 1233-1234 1242-1243 1245-1246 Le…
Royal Oak to reopen Hope Brook with government loans,
The recent acquisition of the Hope Brook gold mine in southwestern Newfoundland means Peggy Witte will probably end 1992 with more frequent flyer miles than any other Canadian mining executive. The ha…
Equity’s unbroken string of profits intact despite dwindling
With reserves at its open pit silver mine near Houston, B.C., expected to be depleted this summer, Equity Silver Mines (TSE) is left reviewing its future. The mine originally opened in the third quart…
Gateway settles $450,000 debt
Gateway Uranium Mines (CDN) has issued 750,000 common shares to its creditors in order to settle a $450,000 debt. Gateway also reports that Vance White and Peter Vamos have resigned from the company’s…