Record price for Nymex seat (August 15, 1994)
A New York Mercantile Exchange (Nymex) seat sold recently for a record US$555,000. The futures exchange trades oil and gas and platinum and palladium contracts. Meanwhile, the Commodity Futures Tradin…
News
DIAMOND PAGE — Sampling program for Nicholas Bay pipe
Partners SouthernEra Resources (TSE), Winspear Resources (VSE) and Adex Mining (TSE) plan to carry out a 2-3 tonne mini-bulk-sampling program on their newly discovered Nicholas Bay diamondiferous kimb…
STOCK MARKETS — Disappointing DO-27 results spur western
Disappointing exploration results out of the Northwest Territories helped spur a continued slide in western markets. The Vancouver Stock Exchange resource index took it on the chin, plunging 121.73 po…
METALS COMMENTARY — Summer doldrums rule metal markets
Despite higher-than-normal stainless mill demand, metal prices remain in their seasonal doldrums with only the rumor mills really active. There is massive speculation about 1994 Russian production lev…
AMERICAS — New Stillwater mill should double output
A new mill is being constructed at the Stillwater mine in Montana, which should double its yearly output of platinum and palladium by 1997. Owned by Stillwater Mining, which was originally a joint ven…
AMERICAS — Latin America to Canyon’s liking
The search for minerals in South and Central America is by no means restricted to Canadian companies. Colorado-based Canyon Resources (NASDAQ) has exploration offices and staff in Argentina, Venezuela…
Shareholders of Royal Oak back revised takeover offer
Shareholders of Royal Oak Mines (TSE) voted 95.7% in favor of the company’s revised takeover offer for Lac Minerals (TSE) at a special meeting here. Royal Oak is now offering, for each Lac share, the …
Steen takes charge at Lac — Royal Oak sweetens Lac offer
The latest round of what has been referred to as an “auction” of Lac Minerals (TSE) saw initial bidder Royal Oak Mines (TSE) increase its offer to $2.4 billion. And million-ounce gold producer Lac too…
Echo Bay, Canyon back out of Seven-up Pete venture
Having spent US$2.3 million on a due diligence investigation, Echo Bay Mines (TSE) has decided not to participate with Canyon Resources (NASDAQ) on a proposed joint purchase of an interest in the McDo…
Commodity index eases slightly
The commodity price index of Scotiabank dipped slightly in June from the previous month. A pickup in the metal and mineral and oil and gas sub-indexes was offset by a decline in the forest product ind…
Two Yukon mining groups back Bonnet Plume work
Two territorial mining organizations hope to intervene in a court challenge to existing federal mining regulations. The Canadian Parks and Wilderness Society (CPAWS) is challenging the legality of the…
Black Swan at odds with Goldbelt
A new dispute is brewing between Black Swan Gold Mines (TSE) and Goldbelt Resources (VSE). The companies are at odds over a settlement agreement made in January, 1992, regarding the Leninogorsk gold t…