Metal Prices PRODUCER PRICES (March 06, 1989)
ALUMINUM: MW U.S. Market 97 cents – $1.00(US) per lb. (Feb 16, 1989). ANTIMONY: New York dealer $1.00- $1.03(US) per lb. (Jan 19, 1989). BISMUTH: New York dealer $6.40-$6.60(US) per lb (Feb 16, 1989)….
News
Westmin completes exploration tunnel
The driving of a 1.2-mile exploration tunnel on the Debbie and Yellow properties on Vancouver Island was completed by operator Westmin Resources on schedule. The tunnel will provide access for undergr…
Student shortage
A disturbing fact came out at the second annual Central Canada Geological Conference held in Toronto last February. During a panel discussion entitled The University-Industry Relationship — The Next …
Restrictions delay exploration in Toodoggone area
With the Cheni gold project now in production, Vancouver-based Energex Minerals (TSE) has the most advanced exploration project in the Toodoggone area north of Smithers, B.C. But a decision on a combi…
Levon reports gold discoveries from Congress
Several high grade gold discoveries were made by operator Levon Resources (TSE) during recent underground work on the Congress project located near Gold Bridge, B.C. The project is a 50/50 joint ventu…
Toronto Stock Exchange Rising rates take toll on bullion and
A concerted effort by the Federal Reserve Board in the U.S. to keep a firm lid on inflation is taking its toll on equities and gold bullion — the latter a traditional inflation hedge. Rising interest…
Newfields awaits further financing
Underground exploration work by Newfields Minerals (TSE) in the Kirkland Lake, Ont., area has been placed on hold pending further financing. The company is negotiating a private placement out of New Y…
Indonesian gold mining
The first of Indonesia’s new wave of gold mines has begun production in Central Kalimantan, and an Australian shareholder — lauding Indonesia’s investment climate — expects to recoup a $13.1-million…
Inco to spend $6.5 million at Snow Lake
A $6.5-million underground exploration program being conducted by Inco Gold, a wholly- owned affiliate of Inco Ltd. (TSE), on the former producing Snow Lake gold mine is yielding excellent results. Dr…
Earning Report (March 06, 1989)
Homestake Mining Co. (NYSE) reports fourth quarter net income of $15.8 million(US) or 16 cents per share on revenue of $125.7 million. For the same pe riod a year earlier the company reported net inc…
Alberta Stock Exchange Volumes pick up
Following a period of inactivity, volumes picked up again this week and a number of issues made significant progress. Large blocks of the Bitech Energy Resources, Casamiro Resources and Pelham Gold is…
Reserve increase at Shoal Lake property
A significant increase in reserves at the Shoal Lake gold property west of Kenora, Ont., has been reported by Kenora Prospectors & Miners (COATS). According to KPM, a recently completed 13,129-ft dril…