Spot prices at a glance (February 26, 1996)
Wednesday, Febuary 21, 1996Week’sPrice (US)ChangeGold*$398.50-$5.40Silver*$ 5.55-$0.14Platinum*$417.50-$4.00Nickel**$ 3.73+$0.05Lead**$ 0.36+$0.02Copper $ 1.13-$0.01Zinca$ 0….
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Metal Prices — FREE MARKET (February 26, 1996)
London Metal ExchangeSpot closing prices in $US per tonneDateFeb. 20 Feb. 19Feb. 16Feb. 15Feb. 14Copper2506-2509 2508-25102491-24942519-25222504-2507Lead772-774 769-770773-775771-772…
Britannia and Bren-Mar sink decline at Lexington project
An underground exploration decline has reached the upper mineralized zone at the Lexington gold-copper project near Grand Forks, B.C.Partners Britannia Gold (VSE) and Bren-Mar Resources (VSE) report t…
Santa Fe records low profits in ’95
Santa Fe Pacific Gold (NYSE) recorded lower earnings in 1995 as a result of decreased production.The company earned US$39.8 million (or 30 cents per share) in 1995, down from US$56.7 million (46 cents…
Copper, moly prices gave boost to Cyprus Amax
On the strength of higher sales and lower costs, Cyprus Amax Minerals (NYSE) reported record earnings for 1995.Excluding writedowns and special items, the company earned US$462 million (US$4.77 per sh…
METALS MARKET — Gold rally is showing signs of fizzling out
Predicting gold prices is not for the faint of heart. Nevertheless, when the price broke through US$400 per oz. in early February, several analysts noted that the yellow metal was clearly in an uptren…
Meetings (February 26, 1996)
MEETINGSMarch 5, Braiden March 5, Canadian Reserve Gold March 6, Rhino March 7, Chargold March 7, Latin American Gold March 8, Copper Dome March 8, Jilbey March 8, Kookaburra March 8, Golden Hill Marc…
GOLD FUNDS (February 26, 1996)
Gold Funds as of Febuary 15, 1996BGRCentralNet Value$22.20$7.11Price$18.38$6.750Discount17.22%5.1%Value$173,542,000$122,170,275…
Black Hawk and Granduc Mining sign merger deal
Black Hawk Mining (TSE) and Granduc Mining (TSE) will merge under an agreement that will also clear a large debt from the latter’s books.Each Granduc share can be traded for one share in the merged co…
Quebec benefits from higher metal prices, investment
The Canadian economy may have stumbled in the first half 1995, but Quebec’s mining industry experienced encouraging year-end results nonetheless.High interest rates at the beginning of the year, the s…
COMMENTARY — Lac de Gras and the environment
Land and self-government agreements with natives in the central Arctic should be made before diamond mining begins there, urges the Canadian Arctic Resource Committee (CARC).CARC made its recommendati…
Skarn zone outlined at Rock Creek
Drilling on the Rock Creek joint venture in southern British Columbia is outlining a zone of skarn mineralization.Phoenix Gold Resources (VSE) and Orion International Minerals (VSE) jointly hold a 51%…