LME WHSE LEVELS (May 17, 1999)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at May 11/99 (change from May 4 in brackets):MetalStocks(tonnes)Change…
News
SPOT PRICES (May 17, 1999)
Precious MetalsPrice (US)ChangeGold$278.00-$7.50Silver$ 5.40+$0.10…
Echo Bay funds Minefinders
A private placement will see Echo Bay Mines (ECO-T) subscribe for up to 2 million units of Minefinders (MFL-T). Each unit will consist of one share and a warrant entitling the purchase of one-third of…
MOST ACTIVE ISSUES, May 5-11, 1999
ExchgVol(000s)HighLowCloseChangeAmericn GemT40601…
MINING MARKETS & INVESTMENT NEWS — WESTERN MARKETS — Mining index loses steam as composite gains
The Vancouver Stock Exchange composite index gained 1.07 points, or 0.2%, to finish the week ended May 11 at 451.24. The mining index, meanwhile, lost 4.10 points, or 1.27%, to close at 317.49.The com…
Teck in bought deal
Teck (TEK-T) is issuing $150 million of new equity through an offering of 10 million units priced at $15 each.The financing is a bought deal by a syndicate led by First Marathon Securities and RBC Dom…
GREATEST VALUE TRADED, May 5-11, 1999
ExchgVal($000s)HighLowCloseChangeBarrick GoldT516…
Rapu Rapu advances to feasibility stage
Australian-based Lafayette Mining is proceeding with a preliminary feasibility study at the Rapu Rapu polymetallic project in the Philippines.The company heads up a group that can earn a 75% interest …
SUPPLIERS NEWS ROUNDUP — US coal miners reap benefits
Miners in North Dakota are the best-paid in the U.S. coal industry, according to a study by a Spokane, Wash.-based engineering firm.Western Mine Engineering found that miners at the state’s four large…
MINING MARKETS & INVESTMENT NEWS — U.S. MARKETS — Falling gold wipes out gains
The Dow Jones industrial average climbed 140.04 points, or 1.3%, to 11,026.15 during the report period ended May 11.Heavy trading marked the week as the bottom fell out of the gold price after the Bri…
Gammon takes bulk sample
With results in hand from a bulk-sampling program, Gammon Lake Resources (GAML-C) is gearing up for a 1,000-metre drilling program at its Brenda mine property in Mexico’s Chihuahua state.Earlier this …
Seabee output boosts Claude’s profit
Saskatoon-based gold and petroleum producer Claude Resources (CRJ-T) has turned in another profitable quarter, following a strong performance by its flagship Seabee gold mine in Saskatchewan.In the th…