Normabec on ME
Junior-mining company Normabec Resources of Rouyn-Noranda, Que., was recently listed for trading on the Montreal Exchange (symbol NMB). The company owns eight properties in a number of Quebec township…
1988
OSC paves way for Falconbridge to buy back stock
Falconbridge Ltd. (TSE) wasted no time in getting in its final bid to Placer Dome (TSE) to buy back the 24.9% stake Placer holds in the big nickel company. Having successfully obtained Ontario Securit…
Zinc stronger on increased demand
Labor troubles and a higher demand by the automobile industry are among the reasons given for the rise in the price of zinc to dizzying levels. The base metal, which last year averaged 36 cents (US) p…
FUTURES PRICES (July 04, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Jul 105.50 102.05 105.40 — 2.95 Sep 100.00 96.80 100.00…
Editorial Giving birth to a giant
July 1, Canada Day, will mark the beginning of a new major mining company in Canada. That’s the day a merger of Eldorado Nuclear and the Saskatchewan Mining Development Corporation is expected to clos…
Metal Prices PRODUCER PRICES (July 04, 1988)
ALUMINUM: MW U.S. Market $1.30-$1.40 per lb. (June 23, 1988). ANTIMONY: New York dealer $0.92-$1.00 per lb. (June 23, 1988). BISMUTH: New York dealer $5.60-$5.75 per lb. (June 23, 1988). CADMIUM: New …
Most mines cost $200(US) to operate
According to a study by Andre Lemieux of the federal department ofEd Resources, cash operating costs of the 45 mines inCose sole or most valuable product was gold averaged$ut $200(US). Those mines acc…
Skyline commissioning mill at Johnny Mountain project
Mill commissioning is under way at Skyline Explorations’ (TSE) Johnny Mountain property north of Stewart, B.C., according to R. E. Davis, president. He says that commercial production is expected to “…
Montreal Exchange Cambior exits Red Lake
A falling gold price at week’s end seemed only to spur investors on the Montreal Exchange, where both the market portfolio and mining and minerals index recorded gains during the holiday-shortened tra…
Mine rescue awards reflect safety record of mining in B.C.
A mine rescue team from Cominco’s Sullivan mine at Kimberley, B.C., won top spot in the underground mining category in a recent province-wide mine rescue competition. A total of nine B.C. mines took p…
Toronto Stock Exchange Booming U.S. buck sends gold south
Renewed confidence in the U.S. dollar ravaged gold prices which crashed almost $15 to $443.55(US) on the second London fix. The result was a sell-off of most gold equities which pushed the gold and si…
Development award goes to Gordon at N.B. symposium
Morton Gordon, chairman of Gordex Minerals, has been named 1987 “Developer of the Year” by the New Brunswick Prospectors and Developers Association, and received a presentation at a recent gold sympos…