METAL PRICES (January 11, 1999)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateJan. 5Jan. 4Jan. 1Dec. 31…
News
Viceroy advances Gualcamayo project in Argentina — Junior prepares to launch second phase of diamond drilling
Concerns that gold-bearing fines are being lost during diamond drilling at the Gualcamayo project in Argentina have prompted Viceroy Resource (VOY-T) to begin twinning the holes with a reverse-circula…
MINING MARKETS & INVESTMENT NEWS – EASTERN MARKETS — Goldcorp gains on news of major financing (January 11, 1999)
The new year saw the triumphant birth of the euro, the new currency that will be used by 11 countries of the European Union, with the notable exception of Britain.During the Dec. 29-Jan. 5 report peri…
Rayrock boosts gold reserves (January 11, 1999)
Nevada gold miner Rayrock Resources (RAY-T) has substantially increased reserves at its three open-pit operations.Total reserves at the wholly owned Dee and Daisy mines and 66.6%-held Marigold mine no…
MOST ACTIVE ISSUES, 1998
ExchgVol(000s)HighLowClosePlacer DomeT54998827.20…
GREATEST VALUE TRADED, 1998
ExchgVol(000s)HighLowCloseBarrick GoldT1277511935.95…
Aur options Tiomin’s Cerro Colorado (January 11, 1999)
In return for providing Tiomin Resources (TIO-T) with a US$2-million loan, Aur Resources (AUR-T) has acquired an option to buy Tiomin’s huge Cerro Colorado porphyry copper-gold-molybdenite deposit in …
Noranda spins off assets
Acting on the approval of its shareholders, Noranda (NOR-T) has spun off its non-mining assets.For each share of Noranda owned at the end of Dec. 30, 1998, shareholders will receive: one new Noranda s…
Term loan to finance Red Lake expansion (January 11, 1999)
Three banks have entered an agreement to provide US$60 million to Goldcorp (G-T) for the expansion of its Red Lake mine in northwestern Ontario.The loan, to be provided by the Bank of Montreal, the Ba…
Meridian secures funds for El Peon — Current production rate expected to double (January 11, 1999)
Reno-based Meridian Gold (MDG-N) has secured funding for construction and development of the El Pe~non mine, near Antofagasta in northern Chile.Standard Bank of New York and Standard Bank London will …
Rubicon raises half a million (January 11, 1999)
Junior Rubicon Minerals (RMX-V) has closed a private placement of 1.5 million units priced at 35 cents each, resulting in gross proceeds of $545,000.Each unit consists of one share and one non-transfe…
MK Gold picks up Carlin-style project (January 11, 1999)
Salt Lake City-based MK Gold (MKAU-Q) has inked a joint-venture agreement with Phelps Dodge (PD-N) to explore the Diamond Valley property in northern Nevada.The junior can earn an 80% interest in the …