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…
News
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…
Rio Algom selling steel operations
A letter of intent has been signed between Rio Algom (TSE) and the Sammi Group of South Korea regarding the sale of Rio’s steel manufacturing operations. Price of the transaction was not made public. …
Step-out drilling extends east zone at Eskay Creek
Step-out drilling at the Eskay Creek project of Calpine Resources (VSE) and Consolidated Stikine Silver (VSE) has increased the strike extension of the 21 zone to the east. But a fault appears to have…
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…
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 $12.9 million…
Spot prices at a glance (April 24, 1989)
Price Week’s ($US) Change($) Gold* 382.90 — 1.25 Silver* 5.76 + 0.06 Platinum* 543.10 +15.60 Nickel** 6.96 + 0.38 Lead** 0.28 + 0.02…
Toronto Stock Exchange Easing inflation fears depress gold, boost
Buyers returned to the markets this week anticipating that rising interest rates may have peaked. Two key economic indicators suggest that the worst is over. The Consumer Price Index registered a smal…
Aurogin completes drilling program
Aurogin Resources has completed a drill program on properties under option from Morrison Minerals (COATS) in northeastern Ontario. Eight diamond drill holes were completed on seven of 12 magnetic anom…
Concessions sought on mineral tariffs
The American Mining Congress (AMC) has called on United States negotiators at the Uruguay Round of trade negotiations to seek concessions on minerals and metals tariffs from consuming nations to ensur…
Cons. Jalna testing potential of Purdex bet
Based on encouraging results from its 1988 drill program, Consolidated Jalna Resources (VSE) is planning a further 30,000 ft of drilling for 1989 on its Purdex property located west of Kenora, Ont. Th…
Editorial The Yellow Brick Road?
Brunswick Mining & Smelting produces only fertilizer, lead, zinc, copper and silver. Right? Well, if current negotiations pan out and a new sintering process works, the company may well be selling a w…