Spot prices at a glance (March 03, 1997)
Wednesday, February 26, 1997Price (US)Week’s ChangeGold*$353.85+ $7.75Silver*$ 5.2…
News
Mindoro: a cautionary tale for investors
Editor’s Note: Mindoro was a private company and should not be confused with Edmonton-based Mindoro Resources (MIO-A), a legitimate junior company exploring in southeast Asia.In 1993, rumors began cir…
LME Warehouse Levels (February 24, 1997)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Feb. 17/97 (change from previous week in brackets):Aluminium910,625(-15,025)Copper220,625(+2,150)Lead110,100(-800)Nickel45,7…
Gold Funds (February 24, 1997)
Gold Funds as of February 13, 1997BGRCentralNet Value$21.72$5.97Price$17.25…
Copperstone drills at Lucifer
Drills are turning on the Lucifer concession in Baja California Sur, Mexico.Copperstone Resources (CPP-V) is earning an 80% interest in the project from Island-Arc Resources (IAR-V).The 1,500-metre, 1…
NEWS IN BRIEF (February 24, 1997)
Consolidated McKinney Resources (CKY-V) has changed its name to Aztek Technologies (AZT-V) on a 1-new-for-5-old-share basis.
“We found too much gold” — Freeport-McMoRan to develop Busang, Bre-X retains 45% interest
The open bidding process had been going on all the time.Freeport-McMoRan Copper & Gold (FCX-N) will be the developer of the Busang gold project in northeastern Kalimantan, Indonesia, following an agre…
LITERATURE REVIEW — NEWS IN BRIEF
International Pursuit (IPJ-T) has reversed its decision to purchase shares of Western America Resources (WAR-A), after closing conditions for the purchase agreement between the two companies were not …
Prism options Ontario claims
As a first stage of exploration, Prism Resources (PRN-V) plans to carry out a geophysical program on a newly acquired 1,500-ha project in Ontario’s Porcupine mining district.The junior acquired an opt…
Teck sweetens Aussie offer
Western Australian producer Mount Edon Gold Mines has accepted a sweeter takeover offer from Teck (TEK-T) and Australian partner Camelot Resources.Teck and Camelot recently increased their bid to A$2….
Who owns what at Busang
Ownership of the Busang gold projects, under the development agreement approved by the Indonesian government on Feb. 18, has been broken down as follows:BUSANG II — (SOUTHEAST)Company…
Exall extracts bulk sample
Exall Resources (EXL-T) has completed an exploration ramp at the Glimmer gold mine near Matheson, Ont., and is now excavating an underground bulk sample.Exall holds a 65.53% interest in the project, w…