SPOT PRICES (May 26, 1997)
Wednesday, May 21, 1997Price (US)Week’s ChangeGold*$342.25- $6.75Silver*$ 4.67…
News
Central Asia proves up Raigorodok resource — Exploration program attempts to define open-pit resource
With seven more holes drilled at the Raigorodok North gold deposit in northern Kazakstan, Central Asia Goldfields (CGZ-M) is nearing completion of a program aimed at confirming and proving up a resour…
Suspension hangs over Cons. Silver Tusk
Trading in Consolidated Silver Tusk Mines (CKS-V) remains halted, more than two months after shares were initially suspended.Trading was stopped after the company issued new, less-impressive assays on…
LETTER TO THE EDITOR — Geological creativity
I had hoped that the Bre-X Minerals debacle would prove once and for all that the world’s largest gold deposit, wherever it may be, could only have been created by natural geological processes.Move ov…
AMF, Gecamines continue partnership
The presence of Laurent Kabila’s forces has brought stability to this mineral-rich portion of Central Africa. It also has brought hope that better days are ahead for an economically devastated nation …
STOCK MARKETS — Little stirs on TSE as golds retreat to lower levels — Broad market fractionally higher, base metals slide marginally
The Toronto Stock Exchange traded in a narrow range throughout the report period ended May 20, finishing only a fraction higher than in the previous week. The TSE 300 composite index, now firmly back …
DIAMOND PAGE — Ashton pulls diamonds from property in Alberta
Ashton Mining of Canada (ACA-T) has released results of diamond analyses from four additional kimberlite pipe-like bodies drilled earlier this year in the Buffalo Hills area of north-Central Alberta.T…
MOST ACTIVE ISSUES, May 14-20
Exchg.Vol(000s)ClosePure Gld ResT167460.35Ashtn Mng CdaT…
St Andrew finds more gold at Stock
Drilling at the former Stock gold mine in the Matheson area of northwestern Ontario continues to provide encouraging results for St Andrew Goldfields (SAS-T).Stepout hole 7 intersected a narrow, high-…
Gold output rises for Glamis
In the first quarter, operations at the Rand and Picacho mines in California enabled Glamis Gold (GLG-T) to boost gold production by 34% over levels achieved in the same period of 1996.The company cra…
Exall takes writedown
Management of Exall Resources (EXL-T) is taking a $7-Million writedown of two non-performing assets; the Mazaruni alluvial diamond project in Brazil and the Santo Tomas copper-gold project in Mexico.E…
B.C. mining shrouded in uncertainty: study
British Columbia’s mining industry had another profitable year in 1996, though its future may be in jeopardy, according to a study by Price Waterhouse.While the industry recorded a profit for the thir…