Nymex withdraws from project
The New York Mercantile Exchange (Nymex) says it has withdrawn from a project to consolidate the operations of four commodity exchanges in New York City. Nymex’s board of directors cited economic cond…
News
GOLD FUNDS (January 20, 1992)
BGR Central Net Value $8.41 $4.95 Price $7.50 $4.350 Discount 10.81% 12.1 Value $50,067,000 $73,185,705…
NEWS IN BRIEF (January 20, 1992)
The International Monetary Fund, in its latest financial statements, reports gold holdings of 3.2 million kg (more than 10 million oz.) at designated depositories, as of Oct. 31, 1991.
Amax completes Fort Knox buy
In exchange for 12.9 million shares and four million warrants, Amax Gold (NYSE) recently completed the purchase of a 100% interest in the Fort Knox property from former owners, Fairbanks Gold and Gilm…
GUEST COLUMN (January 20, 1992)
A proposal to access the vast mineral resources of the Coronation Gulf area in the Northwest Territories holds the promise to provide from hundreds to thousands of jobs to northern residents, and can …
LETTERS TO THE EDITOR (January 20, 1992)
We refer to the article “one dead, one injured at Macassa, blast injures 11 at Sa Dena Hes” (T.N.M., Dec. 30/91). One of the two mine sites, Sa Dena Hes, is a joint venture operation of our company.Th…
NEWS ROUNDUP (January 20, 1992)
New Zealand company Restech International says its Restech Canada Holdings Ltd. unit is set to acquire a 34% stake in Vancouver-based High River Gold Mines (TSE) from TVX Gold (TSE). In exchange for t…
EDITORIAL PAGE (January 20, 1992)
Many countries in South America have opened their doors to foreign investment in recent years. The experiments with socialism and totally state-owned enterprises have been modified, if not discarded, …
TORONTO STOCK EXCHANGE INDICES (January 20, 1992)
Jan 14 Jan 13 Jan 10 Jan 9 Jan 8 High Low Composite 300 3634.98 3594.39 3593.39 3580.60 3515.64 4009.47 3009.91 Metals & Minerals3039.41 2972.56 2975.04 2998.40 2939.33 3453.06 2502.63 Integrated Mine…
Toronto Stock Exchange (January 20, 1992)
Vancouver resource giants Cominco and Teck teamed up with Aur Resources during the week ended Jan. 14 to provide financing for the $326-million copper-zinc project at Louvicourt Twp., Que. The agreeme…
Environment, consolidation top mining industry issues
Mining companies will be setting aside a much larger portion of their budgets to cover reclamation costs and environment-related matters, according to a survey by Toronto accounting firm Peat Marwick …
FUTURES PRICES (January 20, 1992)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Jan 94.35 93.70 94.10 – 0.35 Feb 94.45 94.45 94.30 – 0.55 Mar 95.30 94.40 94.70 – 0.45 SILVER (in US cents per oz…