Shannon drilling near Matagami
A second-phase 16,500-ft drilling program has been started by Shannon Energy on the company’s property near Matagami, Que. The program is testing a geophysical anomaly thought to represent a conductin…
1987
McFinley placement to raise $5 m
McFinley Red Lake Mines has entered into an agreement with Alexandra Mining, a private Bermuda-based company, for a private placement of McFinley shares. When completed, the deal will gross McFinley $…
Platinum seminar
The third international platinum seminar organized by Metal Bulletin and Futures & Options World will take place May 21 in London, England. Speakers confirmed for the seminar include Kevin Gribbons of…
Metal Prices PRODUCER PRICES (May 04, 1987)
ALUMINUM: MW U.S. Market 65.00 cents -66.50 cents per lb. (Apr 23, 1987). ANTIMONY: New York dealer $1.15-$1.20 per lb. (Apr 23, 1987). BISMUTH: New York dealer $2.70-$2.85 per lb. (Apr 23, 1987). CAD…
Canamax, Bruneau up Clavos reserves
New reserve figures have been calculated by partners Canamax Resources and Bruneau Mining for the Clavos Porcupine Mines property, northeast of Timmins, Ont. Drill-indicated geological reserves stand …
Centurion nearing final feasibility
A final feasibility study should be completed later this year on a placer gold project in northeastern California being optioned by Vancouver-listed Centurion Minerals. In-fill drilling is currently u…
Debt-heavy Sherritt to sell mining assets
After some 60 years in the mining business, Sherritt Gordon Mines is putting its mining assets on the selling block in hopes of easing its debt load which at $134 million is proving to be just too cum…
Denison earnings slip
Weak potash markets knocked down earnings this first quarter for Denison Mines, says President J. D. Fowler. Its 60% owned potash project near Sussex, N.B. reached commercial production status on Jan …
Montreal Exchange Onyx, Oasis active
Two companies belonging to Groupe Minier of Val d’Or, Onyx Resources and Oasis Resources, each traded more than a million shares during the past week on the Montreal Exchange. Onyx, which closed up 10…
COATS Trading Features (May 04, 1987)
New Athona Mines added a dime to 35 cents on news that its northern Saskatchewan gold property has been optioned. Lenora Explorations, a Toronto Stock Exchange-listed junior, has optioned the claims n…
Metal Prices FUTURES PRICES N.Y. Commodity Exchange (May 04, 1987)
Week’s High Low Close Change COPPER (in US cents per lb.) May 62.15 61.60 62.05 — 1.30 July 62.15 61.65 62.05 — 1.10 Sep…
Investment Comment Second gold rush led by ERG
One man’s waste is another man’s gold. A trite expression to be sure, but a true one nonetheless. And it is one that is starting to be given serious consideration in the mining industry. A company tha…