Darnley Bay explores anomaly
Privately owned Darnley Bay Resources plans to raise $7 million to explore a coincident magnetitic and gravity anomaly on Darnley Bay, N.W.T. The anomaly is 70 km in diameter and was likely caused by …
Articles by Northern Miner Staff
PRODUCER PRICES (February 21, 1994)
ALUMINUM: MW U.S. market US59.50-62.00 cents per lb. (Feb. 3, 1994). ANTIMONY: MW New York dealer US76-80 cents per lb. (June 10, 1993). BISMUTH: MW New York dealer US$2.35-2.65 per lb. (Sept. 23, 199…
STOCK MARKETS — Golds stay afloat as bullion prices rise
Gold bullion prices rose US$3.35 to close at US$383.60 per oz. at the end of our report week. The Toronto Stock Exchange gold and silver index fell slightly to 10,372.40 from 10,497.00. Most of the ma…
STOCK MARKETS — Despite pre-budget jitters, western markets
Trading activity remained relatively steady on western markets over the week, despite nagging uncertainty about interest rates and the fate of the looney. Adding to the unease was speculation about a …
Weak prices hurt Noranda
Weak metals prices and production cutbacks took their toll on Noranda (TSE), which lost $37 million in 1993, compared with net earnings of $79 million in the previous year. Earnings from mining and me…
Record monthly trading by ME
The Montreal Exchange set a monthly record in January when $3.8 billion worth of shares changed hands. The general market portfolio index set a new daily record Jan. 19, which was eclipsed Feb. 1 when…
Summo plans public offering
To demonstrate its confidence in several projects in the western U.S., Summo Minerals has announced plans to make a public offering this spring. The most advanced of its projects is in San Juan Cty., …
CanQuest builds B.C. portfolio
Despite, or perhaps because of, the exodus of numerous companies to offshore destinations, some British Columbia-based juniors have opted to stay put. Consider CanQuest Resource, which is planning a p…
Santa Fe boosts reserves
The proven and probable gold reserves of Santa Fe Pacific (NYSE) jumped 26% during the second half of 1993. The biggest boost was experienced at the Twin Creeks mine near Winnemucca, Nev., mainly in t…
Euro-Nevada spinoff to focus on Latin American properties
The principals behind two hugely successful royalty companies are aiming to roll out another such entity. The targeted royalty investments this time are gold properties in Latin America. Currently, th…
Metals in decline — Canada’s mineral value rises in 1993
In 1993, the value of Canada’s mineral production increased by 1.9%, or about $700,000, from the previous year. Preliminary estimates by the federal Department of Natural Resources indicate that the v…
African potential focus of forum
Mining investment opportunities in Africa will be the focus of a conference June 6-8 in Denver, Colo. Mines ministers from about 15 countries in sub-Saharan Africa are expected to attend. Organized by…