LME Warehouse Levels (May 19, 1997)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at May 13/97 (change from previous week in brackets):Aluminium769,425(-23,200)Copper149,300(+375)Lead116,700(+2,750)Nickel50,80…
News
Gold Funds (May 19, 1997)
Gold Funds as of May 8, 1997BGRCentralNet Value$21.10$5.89Price$16.00$5.8…
Denison records first-quarter profit
Uranium and oil producer Denison Mines (DEN-T) earned $7.6 million (or 2 cents per share) on revenue of $20.4 million for the quarter ended March 1, compared with $3.2 million (1 cents per share) on $…
Inter-Rock boosts reserves at Daisy mine
Successful bio-oxidation testwork on sulphide mineralization at the open-pit Daisy mine in Beatty, Nev., has enabled Toronto-based Inter-Rock Gold (IRO-T) to increase its reserve estimate for the proj…
Fairstar hits gold
Exploration at the Benso concession in Ghana has led to the discovery of a new gold zone, reports Fairstar Explorations (FFR-T).Following completion of an initial, 15-hole diamond drilling program, Fa…
Verena Minerals intersects gold in Brazil
Toronto-based Verena Minerals (VMCO-C) has drilled several gold intersections on its Porto Nacional property in central Brazil’s Tocantins state.This first phase of drilling concentrated on areas prev…
Virginia finds more gold at Grande Sud
Diamond drilling by Virginia Gold Mines (VIA-M) has identified four new gold-bearing structures on the Grande Sud property in northwestern Quebec.The company intersected zones 32, 35 and 37 while dril…
COMMENTARY — Industry requires federal support
The author is president of The Mining Association of Canada. He has written the following article at the request of Keep Mining in Canada, a grassroots campaign designed to increase awareness of the i…
Richmont not disuaded by loss
The loss of more than half a million dollars in the first quarter has not dampened the optimism of Rouyn-Noranda, Que.-based Richmont Mines (RIC-T).The combination of a lower average gold price and a …
Triton on track at Limon mine
During the first quarter of 1997, Triton Mining (TTM-T) boosted production while lowering cash costs at its Nicaraguan gold mine known as El Limon.The company processed 88,627 tonnes grading 5.15 gram…
Partners confirm mineralization
Drilling by partners Focal Resources (FCJ-A) and Intrepid Minerals (IAU-A) has confirmed gold and silver mineralization at the Barrios property in eastern El Salvador.The program represents the first …
SPOT PRICES (May 19, 1997)
Wednesday, May 14, 1997Price (US)Week’s ChangeGold*$349.00+ $8.35Silver*$ 4.87…