Metal Prices FREE MARKET (May 23, 1988)
London Metal Exchange Spot closing prices in Pound Sterling per tonne Date May 17 May 16 May 13 May 12 May 11 Copper 1490-1470 1470-1475 1450-1455 1380-1385 133…
News
Houston on ME
Vancouver-based Houston Metals was recently listed for trading on the Montreal Exchange (symbol HML). The company came into being in 1986 following the amalgamation of Bulkley Silver Resources and Cat…
Tax angles More on the new exploration incentives
On May 3, 1988, Finance Minister Michael Wilson and Minister of Energy, Mines and Resources Marcel Masse announced measures to maintain the effectiveness of flow- through share financing for explorati…
Toronto Stock Exchange Rate fears depress composite below 3,200 pts
Another selloff hammered the Toronto Stock Exchange today, clipping 44.71 pts from the composite index which closed at 3,178.49 pts. Sparked by interest rate fears and a general perception that the be…
Flow-through deal to fund Ego Wawa bet
Toronto-based Ego Resources (TSE) has entered a flow-through financing agreement with Tap-IV Resource Ltd. Partnership (TSE) to finance an extension of a recently completed 30,000-ft drill program at …
NIM’s prospectus will test CEIP
News that the federal government plans to introduce, at the start of 1989, an exploration incentive, or grant, scheme to help junior resource firms raise funds for exploration programs seems to have h…
Amca hits water but not much ore
Water problems have all but eliminated any chance of finding economic reserves near existing mine workings at Amca Resources’ (VSE) Silver Cross property in Arizona. Earlier reporting of low grade gol…
Editorial U.S. divided on free trade
Should the U.S.-Canada free trade agreement be approved by Congress in its present form? For the mining industry, this is a tough question. As Elmer Bierly, vice-president of Hecla Mining * * * told t…
Assoc. Porcupine, Amer. Reserve test deep potential at Paymaster
A deep-drilling program involving two surface rigs is under way at the Paymaster gold project in Timmins, Ont., where partners Associated Porcupine Mines (TSE) and American Reserve Mining (VSE) are ho…
Gold projects in Chile, U.S. add lustre to Westfield
The company is set to move into the ranks of significant gold and silver producers, President Peter McAleer told shareholders at the annual meeting of Westfield Minerals (TSE). Helping to launch it on…
Metal Prices PRODUCER PRICES (May 23, 1988)
ALUMINUM: MW U.S. Market $1.08-$1.11 per lb. (May 5, 1988). ANTIMONY: New York dealer $1.08-$1.13 per lb. (Apr 14, 1988). BISMUTH: New York dealer $5.60-$5.75 per lb. (May 5, 1988). CADMIUM: New York …
Kerr spurns acquisitions in favor of development
In a bid to expand its existing assets to at least six operating mines, Kerr Addison Mines (TSE) of Toronto is planning to spend $70 million over the next two years on an ambitious development program…