Metallica cuts gold values in Chile
Junior Metallica Resources (MR-T) has intersected high-grade gold values at its 50%-held La Fortuna property in north-central Chile.La Fortuna is adjacent to the company’s wholly owned El Morro porphy…
News
Vengold reduces interest in Lihir — Sale enables company to shed US$11m in outstanding debt.
Shaky year-end results and a US$178.1-million debt load prodded Vengold (VEN-T) to cut its interest in the Lihir gold mine in Papua New Guinea.Vengold sold 5.9 million shares of Australian-based Niugi…
Meetings (March 22, 1999)
March 22, AbaddonMarch 22, Blake RiverMarch 22, Golden ThunderMarch 22, NarMarch 22, StinaMarch 22, TouchstoneMarch 23, RegeenaMarch 23, RidelMarch 24, CarlinMarch 24, GoldmaxMarch 24, GulfstreamMarch…
EXCHANGE RATES (March 22, 1999)
CANADIAN/U.S. EXCHANGE (Bank of Canada noon rate)DateMar. 16Mar. 15Mar. 12Mar. 11Mar. 10…
COMMENTARY — Costs to drop with gold price
The gold price will sink to US$285 per oz. by 2002, though cash costs for Western World producers are also expected to fall, according to a report released by AME Mineral Economics.A study of mine cas…
NEWS ROUNDUP — Farallon settles dispute with Torok
A longstanding legal dispute between Farallon Resources (FAN-T) and John Torok has been settled.Last summer, the Supreme Court of British Columbia dismissed Torok’s claims in the province and awarded …
LETTER TO THE EDITOR — Devco mines deserve support
Patrick Whiteway’s letter about Devco (“Devco deposits not exactly mines,” T.N.M., Feb. 15-21/99) prompts me to add several comments of my own.I beg to differ with his somewhat tongue-in-cheek stateme…
METAL PRICES (March 22, 1999)
Daily Metal PricesBASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateMar. 16Mar. 15Ma…
MOST ACTIVE ISSUES, March 10-16
ExchgVol (000s)HighLowCloseChangeBarrick GoldT203…
Marriage of stock markets proposed — Merger to create more competitive trading network
The amalgamation of Canadian financial markets is expected to create a leaner entity capable of competing more effectively in the global arena.Under an agreement-in-principal, stock exchanges in Toron…
Kennecott eyes Afridi Lake
Kennecott Canada Exploration has intersected kimberlite in the first target to be tested on the Afridi Lake property in the Northwest Territories.The Rio Tinto (RTP-N) subsidiary can earn a 60% intere…
WESTERN MARKETS — Starcore, ProAm among most active on VSE
The Vancouver Stock Exchange composite index tacked on 3.41 points, or 0.8%, to close the week ended March 16 at 424.67. The mining index followed suit, adding 1.9 points, or 0.6%, to close at 313.85….