FUTURES PRICES (September 10, 1990)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Sept 129.00 127.85 128.10 — 0.70 Oct 128.10 127.40 126.90 — 0.30 Nov — — 125.40 + 0.40 SILVER (in US cents pe…
News
Porgera ships first gold, raises production target
International mining company Placer Dome (TSE) recently made the first shipment of gold bullion to refiners from the newly commissioned 1,650- ton-per-day first-stage plant at the Porgera mine in Papu…
U.S. REPORT Galactic revises Cornucopia deal
The proposed business combination between Galactic Resources (TSE) and Cornucopia Resources (TSE) has been revised. The new proposal would have Cornucopia shareholders exchange their shares for 0.55 s…
Brookbank lawsuit one of three facing Metalore
Shareholders of Metalore Resources (TSE) presented some difficult questions to President George Chilian at the company’s recent annual meeting in Toronto. They were looking for some straight answers a…
Pinegrove shares offered only to Hong Kong emigrants
Calgary-based Pinegrove Resources (ASE) has become one of the first junior mining companies in Canada to use the federal government’s Immigrant Investor Program to raise funds for a placer gold mine i…
U.S. REPORT Westpride outlines skarn mineralization on Arizona
Recent drilling on the Middlemarch property owned by West Pride Industries (VSE) has intersected skarn mineralization which the company believes could extend for hundreds of feet on the Arizona proper…
PRODUCER PRICES (September 10, 1990)
ALUMINUM: MW U.S. Market US81.00- 83.00 cents per lb. (Aug. 30, 1990). ANTIMONY: New York dealer US82-83 cents per lb. (Jun. 14, 1990). BISMUTH: New York dealer US$2.95-3.00 per lb. (Aug. 30, 1990). C…
Toronto Stock Exchange Placer Dome offering $262m to buy Mt.
The price of gold bullion remained relatively stable during the week ended Sept. 4 as tensions in the Middle East appeared to have eased somewhat with the release of Western women and children held ho…
Dredging problems hamper Osborne bet
Bermuda-based gold producer Osborne and Chappel Goldfields (TSE) has earned a small profit from its 50% owned Los Lilenes bucket- dredging project in Ecuador. Osborne and Chappel reported a profit of …
Offerings would reduce holdings of Hanson in Newmont Mining
The major shareholder of Newmont Mining (NYSE) plans to reduce its holdings in the giant mining corporation. English firm Hanson, which through an affiliate owns 49% of Newmont, would lower its intere…
Amax Gold says Canamax sale to parent Amax is non-event
A spokesman for Amax Gold (TSE) recently described the Colorado company’s recent decision to sell its 44% stake in Canamax Resources (TSE) to parent Amax (TSE) as “a non-event.” The sale of 10.4 milli…
Cheni cuts down Lawyers’ reserves
This summer’s exploration program on the Lawyers property, owned by Cheni Gold Mines (TSE), has proved disappointing for the junior gold producer. The 100% owned Lawyers Mine is in the Toodoggone regi…