TSE INDICES (June 30, 1997)
1997June 24June 23June 20June 19June 18HighLowCom…
News
STOCK MARKET — Composite index slides as juniors take beating on VSE — Int’l Tournigan
and Grayd Res. manage to buck downward trend among mining stocksThe Vancouver Stock Exchange composite index was down 46.5 points, or 5.06%, at 872.09 over the report period ended June 24. The mining …
STOCK MARKET — Resource stocks drag TSE down as gold price atrophies — Canadian dollar loses ground against American greenback and most other major currencies
The Toronto Stock Exchange’s TSE 300 composite index fell 41.38 points to 6,490.96 between June 18 and 24, with transportation stocks and conglomerates showing strength, and the resource sectors — fo…
Ashanti commits to African projects
Ashanti Goldfields (ASL-N) intends to spend US$28 million on exploration in Africa during 1997.The company’s managing director, Peter Cowley, says two-Thirds of the funding will be directed towards ex…
SPOT PRICES (June 30, 1997)
Wednesday, June 25, 1997Price(US)Week’s ChangeGold*$338.70- $3.35Silver*$ 4.77…
Shaft completed at Bissett mine
With its principal shaft now complete from surface to the main haulage level, Rea Gold (REO-T) has finished about 95% of the construction at its Bissett gold mine in eastern Manitoba.The former gold p…
Earnings dip for Agnico-Eagle
Canadian gold producer Agnico-Eagle Mines (AGE-T) reported a net loss of $800,000 for the first quarter ended March 31, down from net income of $1.8 million a year earlier.The company attributed the l…
Tests confirm Nico’s potential
Further metallurgical studies have reinforced the favorable results of earlier tests performed on mineralization at the Nico polymetallic prospect, 170 km northwest of Yellowknife, N.W.T.Samples that …
San Martin results add glitter
The latest drill results from the Sinter hot spring gold zone at the San Martin concession in central Honduras indicate that the domal hill target is strongly mineralized on the eastern and southern s…
YGC’s Ketza to feed Mt. Nansen mill
In keeping with its plans to make the Mt. Nansen mine near Carmacks, Y.T., a central milling operation, BYG Natural Resources (BYG-T) has concluded a joint-venture agreement with YGC Resources (YGC-V)…
U.S. gov’t stalls Zortman project
The Board of Land Appeal for the U.S. Interior Department has granted a stay of the record of decision regarding the Zortman Extension project in Montana, thwarting attempts by Pegasus Gold (PGU-X) to…
Virginia Gold Mines finds new mineralization at Auclair property
Drilling of grassroots exploration targets at the Auclair property in the Eastmain greenstone belt of northern Quebec has turned up more gold for Virginia Gold Mines (VIA-M).The new zone, on the easte…