Metal Prices (May 30, 1988)
FREE MARKET London Metal Exchange Spot closing prices in Pound Sterling per tonne Date May 24 May 23 May 20 May 19 May 18 Copper 1267-1270 1337-1340 1340-1347 1290-1295 1380-1390 Lead 373-3…
1988
Pacific Trans-Ocean finds Gordon Lake gold values
Edmonton-based Pacific Trans- Ocean Resources (ASE) recently received some encouraging results from the first four holes of a 16-hole program on its 100%-owned Gordon Lake property 70 miles northeast …
Placer, MSV ponder production decision for Eastmain bet
The Eastmain gold project in northern Quebec could be in production late in 1989 should the results of a final feasibility study prove favorable, partners Placer Dome (TSE) and MSV Resources (ME) repo…
La Fosse drill results
Assays have been received by La Fosse Platinum Group (TSE) from two projects in northeastern Quebec. On the Marymac project, located 250 km north of Schefferville, three vertical holes tested the Redc…
Future federalfunds for research in doubt
The federal government is still undecided on whether to begin discussions to renew the popular Mineral Development Agreements (MDAs) with eight mineral-producing provinces. The agreements were the mai…
Editorial Revising Ontario’s Mining Act
The Ontario Mining Act has been a remarkably resilient piece of legislation. Dating back to 1896, it has governed how the mineral riches of the province are staked, claimed and eventually exploited by…
MacLellan turns a profit
Operations at the troubled MacLellan gold mine near Lynn Lake, Man., appear to have taken a turn for the better. Under the direction of a new management team put together by Hayes Resources (TSE), the…
Golden Knight/Teck private placement
Golden Knight Resources (TSE) has entered into a flow-through private placement agreement with Teck Corp. (TSE) for aggregate proceeds of up to $5 million. The funds will be used to finance Golden Kni…
Sonora first quarter best output to date
The first quarter of 1988 resulted in the best production to date from Sonora Gold Corp.s (TSE) 78%- owned Jamestown mine. In total some 526,000 tons of gold ore were processed to yield a net quarterl…
Orleans acquiring east coast interests
An agreement has been reached between Orleans Resources (ME) of Val d’Or, Que., and Hathor Resources, a non-trading public company, whereby Orleans may acquire a 50% interest in the latter’s Nova Scot…
Toronto Stock Exchange Low volumes, sluggish trading keep lid on
Trading on the markets was characterized by another week of sluggishness as both volumes and prices remained weak. On Toronto, the composite index gave up 3.86 pts to close at 3,179.62 pts. Volume was…
FUTURES PRICES N.Y. Commodity Exchange (May 30, 1988)
Week’s High Low Close Change COPPER (in US cents per lb.) May 100.00 97.80 98.00 — 5.00 Jul 91.95 89.50 89.75 + 6.15 Sep 88.50 85.80 86.15 — 4.55 SILVER …