Metal Prices FUTURES PRICES (April 24, 1989)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Apr143.25 142.00 142.80 + 1.80 May141.10 139.10 140.90 + 0.90 Jul133.50 131.50 …
News
Record-breaking results highlight Inco meeting
Record first quarter earnings of $276 million (US) and the prospect of another record-breaking year took centre stage over a bid to kill a controversial poison pill plan at Inco Ltd.’s (TSE) annual sh…
U.S. Hall of Fame board
The chairman and chief executive officer of Homestake Mining Co. of San Francisco, Harry M. Conger, has been elected to the board of governors of the National Mining Hall of Fame and Museum at Leadvil…
Ownership of top gold mine still awaits court’s decision
The Page-Williams mine in the Hemlo area of Northern Ontario turned out 378,943 oz gold in 1988, the largest single gold-mining operation in Canada that year. Information about the mine is contained i…
United Keno shuts 6 mines after suffering heavy losses
Toronto-based silver producer United Keno Hill Mines (TSE) won’t remember 1988 fondly. The 33%-owned affiliate of nickel giant Falconbridge Ltd. (TSE) reported a consolidated net loss of $12.9 million…
New Golden Sceptre active in Mexico
New Golden Sceptre Minerals (TSE) and New Goliath Minerals (TSE) recently completed a diamond drilling program on the Matarachi gold property in northern Mexico. The two companies report a total of 91…
CoCa, Geodome merger approved
The Securities and Exchange Commission has approved the prospectus for the merger of CoCa Mines (NASDAQ) and Geodome Resources (TSE). CoCa will issue 0.255 shares and a warrant for each outstanding sh…
Dragoon, Greenstone drilling intersects Sullivan-type geology
A seven-hole drill program has intersected zinc-lead mineralization on the McNeil property in British Columbia, partners Dragoon Resources (VSE) and Greenstone Resources (TSE) say. Located 20 km south…
Breakwater’s O’Brien find prompts underground study
The discovery of a new gold-bearing vein complex on the O’Brien property near Cadillac, Que., has Breakwater Resources (TSE) studying the possibility of an underground exploration and development prog…
COATS Trading Features (April 24, 1989)
Mining issues slipped lower in a quiet and generally lacklustre COATS market this week. Two companies with interests in platinum-palladium prospects, Boston Bay Mines and Belleterre Quebec Mines, were…
Higher cost won;t stop Golden Bear
Although capital costs have almost doubled to $70 million since the initial feasibility study, North American Metals (VSE) and Chevron Minerals will proceed with the development of their Golden Bear p…
Breakwater aiming to develop Estrades
After Teck Corp. (TSE) paved the way by terminating its 60% back-in right, Breakwater Resources (TSE) reached a deal to earn up to a 70% interest in the Estrades property in the Casa Berardi region of…