Metal Prices (May 07, 1990)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date May 1 Apr. 30 Apr. 27 Apr. 26 Apr. 25 Copper 1755-1760 1578-1579 1624.50…
News
Encouraging zinc/copper values reported at Greenstone project
Partners Greenstone Resources (TSE) and Dragoon Resources (VSE) say they are getting indications that a large base metal deposit could exist within the boundaries of their jointly held McNeil property…
Alberta Stock Exchange Louisiana eyes copper
A copper project in New Mexico near the town of Silver City has caught the attention of Louisiana Mining. The junior has entered into a letter of intent with an individual to acquire a 51% interest in…
Freewest in position to fund Noranda bet
A flow-through financing agreement with CMP 1990 Resources and Co. has put Freewest Resources (ME) in a position to fund its share of a 100,000-ft. drill program at its 40% owned Harker Holloway gold …
Echo Bay won’t increase its stake in Magino, Magnacon
Large North American gold producer Echo Bay Mines (TSE) has decided not to proceed with a plan to exchange its shares in the Muscocho group of companies for a direct interest in the group’s struggling…
Gulf rejects Audrey bid for Asamera Min.
The gap between the valuation placed by Audrey Resources (TSE) and Asamera Minerals’ (TSE) parent Gulf Canada Resources on Asamera’s Canadian and U.S. mineral assets is apparently too wide. Audrey Pre…
U.S. Report Pegasus income down as gold output rises
Despite higher gold production from six mines in the western U.S., Pegasus Gold’s (TSE) first-quarter earnings and revenues were down from last year’s levels. Pegasus Gold reported net income of $621,…
Giant Yellowknife cuts cost of gold production during ’89
The gold output of Giant Yellowknife Mines (TSE) in 1990 is expected to be similar to 1989 but should be produced at a considerably lower cost, President Adrian Fleming said at the annual meeting. The…
Montreal Exchange Drill holes disappoint
A languishing gold price and the threat of further economic slowdown are having a definite effect on the ME, where relatively light trading volumes continue. For the week ended May 1, daily volumes ra…
Silverside seeks turnaround
A new management team at Silverside Resources (TSE) is hoping to turn the junior around by focusing its growth on the national and international scenes. “Our first target is the Garrison project in no…
Vancouver Stock Exchange Akiko-Lori shares bounce back
With gold and major markets in the doldrums, the Vancouver Stock Exchange was no different as the composite index tracked sideways at the 750-level for the week ended May 1. The index was off marginal…
Hemlo boosts output by 16$% further improvements in store
Despite weaker metal prices, gold production from Hemlo Gold’s (TSE) Golden Giant mine continues to place the company in an enviable financial position. Due to a sharp increase in production, Hemlo Go…