GOLD FUNDS (May 26, 1997)
Gold Funds as of May 15, 1997BGRCentralNet Value$21.33$5.94Price$16.75$5.
News
LME WAREHOUSE LEVELS (May 26, 1997)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at May 19/97 (change from previous week in brackets):Aluminium761,950(-7,475)Copper141,100(-8,200)Lead118,100(+1,400)Nickel50,6…
PEOPLE — P&H MINING EQUIPMENT
Stephen Light appointed vice-president of operations; Scott Alexander appointed vice-president and general manager of MinePro Services (International Group).
ASIAN EXPLORATION — Exploration on the rebound in PNG — Yamana revisits deal with Union Mining
According to foreign-based juniors active in Papua New Guinea, the recent political turmoil in that country is subsiding, as are the associated adverse affects on early-stage exploration programs ther…
ASIAN EXPLORATION — Vietnamese laws lure junior financing — Canadian firms show newfound interest
In 1995, foreign investors poured an estimated US$750 million into Vietnam, largely as a result of a series of free market reforms. And yet, despite this and other other economic improvements (diminis…
ASIAN EXPLORATION — Steppe Gold expands presence in Kazakstan — Focuses on oxide resources in Central Mizek and Suzlik deposits
At the same time that it works toward completing a feasibility study on the heap-leach potential of its 59%-held Mizek gold project in Kazakstan, Steppe Gold Resources (SPE-V) is acquiring other joint…
Faro mine suspension takes toll on Anvil Range
The last fiscal year was a difficult one for Anvil Range Mining (ARO-T), owner and operator of the mothballed Faro zinc-lead mine in the Yukon.The Toronto-based firm reported a loss of $35.3 million (…
FACTS AND FIGURES — Silver inventories dwindling
The silver price was, at best, flat during the first four months of 1997, leading some observers to wonder if something is wrong with the market. The new supply of silver from mines, scrap and other s…
EDITORIAL AND OPINION — Will Zaire’s conversion bear fruit? — Sizing up Kabila
Put a few optimistic businesspeople in a room full of cynical journalists and watch the sparks fly. That’s what happened in Lubumbashi, a city in the heart of Zaire’s copper belt, in the aftermath of …
Greatest Value Traded, May 14-20
Exchg.Value ($000)HighLowCloseChangeBarrick GoldT…
ASIAN EXPLORATION — Freeport fights suit
Freeport McMoRan Copper & Gold (FCX-N) will file motions in U.S. courts that seek to dismiss a US$6-billion lawsuit over alleged human rights abuses near the Grasberg gold mine in Irian Jaya, Indonesi…
STOCK MARKETS — Western markets soured by reports of tampering — Diamond hunters, golds stumble; mixed bag for foreign-oriented juniors
Western markets continued to take it on the chin over the report period ended May 20 as reports of sample salting and tampering caused investors to back away from junior gold exploration stocks (see p…