Volatile zinc prices likely to stay high
With demand strong and supply at record levels, zinc is trading at fancy prices today. The base metal, which averaged about 54 (US) per lb last year, was recently trading for 76 on the London Metal E…
1989
CoCa, Geodome merger planned this quarter
The proposed merger of CoCa Mines (NASDAQ) and Geodome Resources (NASDAQ) could be completed in the first quarter, said CoCa President Hugh J. Matheson. The deal will require the approval of the holde…
Tundra drilling (January 16, 1989)
A major drill program totalling more than 110,000 ft is scheduled to begin this month on the Lamaque gold project owned by partners Teck Corp. (TSE) and Tundra Gold Mines (VSE). The program, expected …
Start-up problems at McCabe
Stan West Mining (TSE) has encountered operating problems at its $35 million McCabe gold mine in Arizona. During the first quarter of operations, which began in September, 1988, the mine failed to gen…
Economic session
The American Copper Council will sponsor an economic outlook session at its luncheon meeting in New York on Thursday, Feb 2. Featured speaker, is Nicholas Perna, vice-president and chief economist for…
Lackluster year of trading on ME
Trading activity on the Montreal Exchange in 1988 was comparable to 1986 levels, says the exchange, which saw its general market portfolio index gain about 6.5% last year. “While the October, 1987, cr…
MacDonald ponders future of Gallen
The new directors of MacDonald Mines Ltd have changed the name of the mining company to MacDonald Mines Exploration (COATS). The company took on a new life last year (N.M., Sept 5/88) when shareholder…
Production decision at Farley in ’89
A production decision for the Farley Lake gold deposit near Lynn Lake in northern Manitoba could come in 1989 if the results of a recent feasibility study are positive. A 12,000-ton bulk sample has be…
Metal Prices FUTURES PRICES (January 16, 1989)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US per lb.) Jan 146.00 144.60 144.70 — 7.00 Mar 136.20 133.40 143.70 — 2.00 May 126.30 124.50 125….
Rio Algom buys 22% stake in Vancouver gold company
Toronto-based resource giant Rio Algom Ltd. (TSE) has emerged as the largest shareholder in an unlisted gold exploration company called Pan Orvana Resources. In a bid to access some joint venture oppo…
Western Canadian to acquire Sulphurets Gold
Major shareholders of Sulphurets Gold (VSE) have agreed to vote in favor of an agreement that would result in Western Canadian Mining Corp. (TSE) acquiring 7,423,290 of its shares in exchange for West…
Goldbank acquires Kamloops prospect
Calgary-based junior capital pool company Goldbank Ventures (ASE) has acquired a polymetallic property in British Columbia’s Kamloops mining division. Goldbank recently staked the 134-claim Mila prope…