Igneous financing
Igneous Stone Corp., 50.1% owned by Black Cliff Mines (TSE), has entered into an agreement with an investor group whereby the group will provide $500,000 in equity financing which will be used to brin…
News
Gutrath increases Queenstake interest
Gordon Gutrath, president of Queenstake Resources (TSE), recently increased his holdings in the company to 17.34% through the purchase of 1.44 million shares from Australian firm Sandhurst Mining. Gut…
Lyndhurst program
Preliminary field work is under way at the Lyndhurst base metal project in Destor Twp., Que., Globex Mining Enterprises (ME) reports. Globex’s joint venture partner is Noranda Exploration. Survey work…
More work planned on Stewart property
Calgary-based Trev (ASE) recently announced that Cameco (TSE) will proceed with a second-phase program of reconnaissance and detailed follow-up work on the Stewart property in northwestern British Col…
NEWS IN BRIEF (March 09, 1992)
Eden Roc Mineral (ASE) recently announced its first production pour — 313 oz. of dore — from its Afema heap leach gold mine project in the Ivory Coast, West Africa.
Placer’s output almost 1.7 million oz.
New ore discovered at nine operating mines are reported to have more than offset the 1.68 million oz. gold produced to the account of Placer Dome (TSE) in 1991. The Vancouver-based major said gold res…
Alaska production up 4% in 1991
Gold, coal, zinc and silver mining production in Alaska increased to a total value of US$554 million in 1991, a 4% increase over the previous year. A preliminary report on Alaska’s mineral industry re…
Spot prices at a glance (March 09, 1992)
Week’s Price (US) Change Gold* $350.20 + $1.80 Silver* $ 4.11 + $0.04 Platinum* $360.75 + $6.95 Nickel** $ 3.36 – $0.23 Lead** $ 0.24 + $0.01 Copper $ 1.02 – $0.01 Zinc $ 0.54 + $0.02 Courtesy of Scot…
FUTURES PRICES (March 09, 1992)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Mar 102.60 101.90 102.20 + 0.20 May 102.60 101.85 102.15 + 0.60 Jun 101.80 101.30 101.55 …. SILVER (in US cents…
Imperial posts third-quarter loss
A writedown of investments in several associated companies contributed to Imperial Metals’ (TSE) net loss of $3.7 million for the third quarter ended Dec. 31. This compares to net income of $240,000 i…
Hecla to develop Grouse Creek
Following an increase in estimated reserves at the Grouse Creek project in south-central Idaho, owner Hecla Mining (NYSE) is planning to bring the property into production. Proven and probable reserve…
EDITORIAL PAGE (March 09, 1992)
It was only a passing reference in Finance Minister Donald Mazankowski’s recent federal budget, but Ottawa’s plan to consider privatizing the Cape Breton Development Corp. (Devco) is a good one. The p…