PRODUCER PRICES (December 04, 1989)
ALUMINUM: MW U.S. Market US75.50 cents -77.00 cents per lb. (Nov 21, 1989). ANTIMONY: New York dealer US85 cents -90 cents per lb. (Nov 9, 1989). BISMUTH: New York dealer $4.55-$4.65(US) per lb. (Nov…
News
Vancouver Stock Exchange Prime group dominates trading
Gold prices are still holding above the $400(US) level and that’s particularly welcome news for the Vancouver Stock Exchange. Brokers here say investors are beginning to take an interest in good quali…
Pioneer fighting threat of mine foreclosure
The once amicable corporate relationship between Pioneer Metals (TSE) and its largest single shareholder Pegasus Gold (TSE) has deteriorated into a legal wrangle over Pioneer’s U.S. mineral assets. St…
Continental Pacific plans NWT programs (December 04, 1989)
After spending over $1 million on exploration this past season, Continental Pacific Resources (VSE) plans to spend a further $2 million in the 1990 season on its two key properties in the Northwest Te…
Gold price prompts gold loan paybacks
The rising price of gold has producers of the precious metal moving to pay off their gold loans, the effect of which may be to lend further strength to the metal’s price. One such producer is Giant Ye…
Echo Bay Mines earnings lower
Third-quarter earnings were lower for Echo Bay Mines (TSE) despite increased gold and silver production from the company’s expanding mining operations in Nevada. The company had net earnings of $9.6 m…
Breakwater defers production decision on Estrades
A mining feasibility study has been completed by Wright Engineers on the Estrades gold-silver-zinc-copper deposit in northwestern Quebec. Project operator Breakwater Resources (TSE) has also deferred …
Drilling begins on Reymont’s claims near Nelson, B.C.
A 10,000-ft diamond drilling program has started on Reymont Gold Mines’ (ASE) Great Western Star copper-gold property near Nelson, B.C. The current exploration program will test at least five separate…
Sherritt Gordon adopting shareholders rights plan
Toronto-based Sherritt Gordon (TSE) has adopted a poison pill or shareholder rights plan to prevent itself from becoming the victim of a creeping takeover bid. While the company said it isn’t aware of…
Inco puts hefty price on Nor-Acme capital costs
A technical study for the Nor-Acme gold project, owned 100% by High River Gold Mines (TSE), was recently completed by Inco Gold, a unit of Inco Ltd. (TSE), in conjunction with Wright Engineers. The re…
Fairbanks reviewing proposal from major
With a written proposal in hand, Fairbanks Gold (VSE) is evaluating an offer by a major mining company for possible involvement in the company and its Alaskan mineral properties. Eric Friedland, pre…
Mine Visit: A DIGNIFIED DECLINE; Operators are intent on securing
In the declining years of an orebody, it is tempting to starve the mine as early as possible of capital improvements and thus “maximize,” “optimize” and otherwise milk the mine’s cash flow. But the to…