SPOT PRICES (April 14, 1997)
Wednesday, April 9, 1997Price (US)Week’s ChangeGold*$348.00- $2.70Silver*$ 4.77…
Articles by Northern Miner Staff
TORONTO STOCK EXCHANGE INDICES (April 14, 1997)
1997Apr 8Apr 7Apr 4Apr 3Apr 2HighLowComposite “30…
Yamana cancels PNG deal with Union — Company retains 17.6% interest
Uncertainties related to working in Papua New Guinea and other parts of Southeast Asia have prompted Yamana Resources (YRI-T) to cancel plans to make Union Mining a wholly owned subsidiary.Yamana, whi…
PRODUCER PRICES (April 14, 1997)
Aluminium: LME settlements US$1,547 per tonne, alloy $1,444 per tonne (April 8/97).Antimony: Composite free market, US$2,200 per tonne (April 1/97).Bismuth: Composite free market US$3.11 per lb. (Apri…
Sunshine reports bright quarterly output
Sunshine Mining & Refining (SSC-N) posted its second consecutive quarter of record production at its namesake mine in northern Idaho.In the first three months of 1997, Sunshine cranked out 901,000 oz….
Santa Fe, Newmont set date for merger vote
Shareholders of Santa Fe Pacific Gold (GLD-N) will meet in a special meeting on May 5 in Albuquerque, N.M., to discuss a proposed merger with Newmont Mining (NEM-N).Newmont and its 91%-owned subsidiar…
NovaWest options Raglan properties
Vancouver-based NovaWest Resources (NVE-V) is optioning five additional properties in the Raglan nickel-Copper-platinum camp on the Ungava peninsula of northern Quebec.The newly acquired properties co…
Sur American Gold postpones $8.5-Million financing
Sur American Gold (SUR-A) has postponed its recently announced $8.55-Million financing in light of the ongoing market turmoil surrounding Bre-X Minerals (BXM-T).The financing, along with $2.4 million …
Friedland sues United States — Former mine owner seeking damages
The first wayward trickle from the ill-fated Summitville gold mine led to a flood of environmental and legal controversy — and it’s not over yet.Canadian lawyers representing Robert Friedland (inset)…
CIM to focus on Central America
Heap-leach gold operations in Central America will be discussed at a luncheon hosted by the Canadian Institute of Mining, Metallurgy & Petroleum, to be held at 12 noon, Thursday, April 17 at Toronto’s…
Corrections (April 14, 1997)
Arauco Resources (ARU-V) has acquired full ownership of the George Lake gold project. Incorrect information appeared in our issue of March 31.
EDITORIAL — Dearth of data warranted skepticism — The bitter taste of humble pie
There were many tales told at the Busang property in Kalimantan, Indonesia, but one that might have a grain of truth was the story of the over-educated “egg-head” geologist sent by a major mining comp…