NEWS ROUNDUP (February 17, 1992)
P.T. Inco, Inco’s (TSE) Indonesian division, produced a record amount of nickel in matte during 1991 75.9 million lb. compared with 59.6 million lb. in 1990. But despite the production increase, P.T. …
News
Queenston takes control of Thermal
Queenston Mining (TSE) has signed a letter of intent to purchase 30.5%, or 3.5 million shares, of Thermal Exploration (ASE) at 35 cents per share. Thermal has a 50% interest in the Williams Creek copp…
Newmont, Uzbekistan to join in gold venture
Newmont Mining (NYSE), North America’s biggest gold miner, is planning to team up with the second largest gold producer of the former Soviet republics to extract ore from low-grade deposits. Newmont C…
Unlisted Trading (February 17, 1992)
Continuing to trade actively, Pelangio-Larder Mines gained another 3 cents to close at 60 cents during the week ended Feb. 11. The company has acquired an option on 12 claims in Hurdman Twp., Ont., ab…
NEWS IN BRIEF (February 10, 1992)
Spectrum Gold Corp. (SGI.A:VSE) has changed its name to Scarlett Minerals Inc. (SMI:VSE) with a consolidation of capital on a 1-new-for-2-old-share basis.
The Meikle `miracle mine’ — Barrick’s latest: deep but rich
American Barrick Resources (TSE) pulled another billion-dollar gold mine from its Carlin-area holdings recently, announcing development of its deep but rich Meikle gold deposit in Nevada. Formerly kno…
Rio confirms Kemess reserves (February 10, 1992)
A preliminary reserve calculation by Rio Algom (TSE) for the South Kemess property, 60% owned by El Condor Resources (VSE) and 40% owned by St. Philips Resources (VSE), has confirmed recent reserve es…
Dome Mountain nearing capacity
Development work and mining at the Dome Mountain underground gold mine near Smithers, B.C., is continuing as Timmins Nickel (TSE) brings the property up to operating capacity. Timmins is earning a 60%…
Missouri division may not survive
A move to save money may mean the end of Missouri’s Division of Geology and Land Survey. The budget chairman of the House of Representatives, Chris Kelly, wants to make the move because to him the div…
De Beers opening Moscow office
A Moscow office will be opened by De Beers Centenary, the diamond company said. In 1990, De Beers signed an agreement with Rossalmazzoloto, the deal including a 5-year sales contract and a US$1-billio…
Sleeping Giant bolsters Aurizon
Underground exploration at the Sleeping Giant gold project 40 miles north of Amos, Que., recently turned up encouraging chip samples for Aurizon Mines (TSE) and program operator Cambior (TSE). On leve…
Spot prices at a glance (February 10, 1992)
Price (US) Week’s Change Gold* $354.95 – $0.45 Silver* $ 4.17 + $0.01 Platinum* $358.25 + $11.75 Nickel** $ 3.47 – $0.01 Lead** $ 0.23 $0.00 Copper $ 0.98 – $0.01 Zinc $ 0.52 – $0.01 Courtesy of Scoti…