Spot prices at a glance (November 07, 1988)
Week’s Price (US) Change Gold (per oz) $412.50 + $ 5.00 Silver (per oz) $ 6.35 + $ 0.10 Platinum (per oz) $573.00 + $34.00 Copper (per lb) $ 1.53 + $ 0.04 Lea…
1988
Golden Rule drilling intersects high grade at Weedy Lake project
Recent drilling on Golden Rule Resources’ (TSE) Weedy Lake property located in the La Ronge belt of northern Saskatchewan has returned more high grade gold intersections. Two holes were drilled to tes…
Zinc refuses to be left behind
While attention has been focused on the price of copper of late, another base metal has been showing its strength. Zinc is on the move after a summer lull, the spot price of the metal recently hitting…
Aur buys property
Aur Resources (TSE) has acquired a base metals prospect from Abbey Exploration (TSE). The 12-claim property, known as the Lugold, is located near Val d’Or, Que. Aur purchased the 100% interest for $12…
Bitech high grade
The first four drill holes completed on the Nugget Pond project, owned by Bitech Energy Resources (ASE), has returned strong gold values. Drilling on the new discovery in Newfoundland’s Betts Cove are…
Alberta Stock Exchange Baslen gains ground
For very different reasons International Baslen and Varna Gold were the issues which stood out in a week when volumes were otherwise relatively low. Varna was the volume leader with 856,300 shares cro…
SMDC merger
The merger of the Saskatchewan Mining Development Corp and Eldorado Nuclear has been completed. SMDC is a provincial mining company whereas Eldorado is federally owned. Renamed Cameco, A Canadian Mini…
Placer Dome’s big cash position fuels rumours of acquisition
The sale by Placer Dome (TSE) of its interest in Falconbridge and McIntyre Mines in August boosted the company’s cash position to $764.5 million as of Sept 30. And that huge treasury has promoted spec…
Honduran Mine Boosts Earnings for American Pacific
Even though gold projects continue to dominate the mining scene, they are no longer the only game in town as evidenced by base metal producers waving healthy financial statements from operations once …
Metal Prices PRODUCER PRICES (November 07, 1988)
ALUMINUM: MW U.S. Market $1.055-$1.095 per lb. (Oct 20, 1988). ANTIMONY: New York dealer $1.05-$1.10 per lb. (Aug 25, 1988). BISMUTH: New York dealer $5.90-$6.00 per lb. (Oct 20, 1988). CADMIUM: New Y…
FINANCING (November 07, 1988)
ONTARIO Montval Res — final rec iss offer 430,000 @ $1.30 per sh to net $279,000. Rave Res Inc — final rec offer 250,000 @ $1.50 per sh to gross $206,250. Turbo Res — final rec iss offer 80,000,000…
Flintrock results disappointing
Results from a gold exploration program being performed by Flintrock Mines (VSE) have been disappointing, the company says. Work on the company’s 12- claim property near Kirkland Lake, Ont., failed to…