NEWS ROUNDUP — Work begins on ATT claims
An initial exploration program including prospecting, mapping, geochemical sampling and geophysical surveying was commenced recently at the ATT claims owned by Claimstaker Resources (VSE) and under op…
1992
NEWS ROUNDUP — Metal prices boost Granges
An increase in copper and zinc prices as well a jump in metal production helped Granges (TSE) report a profit of $1.9 million for the second quarter ended June 30, 1992. Revenues jumped to $17.6 milli…
Asarco upgrades Ray reserves
The first calculation of reserves since acquisition of the Ray copper mine in 1986 in Arizona have been completed says Richard de J. Osborne, chairman of Asarco (NYSE). The new figure is in excess of …
Minerex boosts gold output
Gold producer Minerex Resources (TSE) is turning out more of the yellow metal at a lower cash cost this year than it did a year ago. The Vancouver-based company produced 8,390 oz. gold during its 1992…
EDITORIAL PAGE — Paying for the privilege
It’s standard practice for those interested in doing exploration in unfamiliar political jurisdictions to do some preliminary research into the area. Who owns the mineral resources? Who gives out pros…
OBITUARY — W.L. Brown
William Lester (Bill) Brown, a keen field geologist who rose to become general manager of Noranda Exploration and a vice-president of Noranda Mines, died recently in Toronto. He was 81. Born in Brantf…
NEWS IN BRIEF (August 24, 1992)
Stoney Creek Mines Ltd. (STK:VSE) has changed its name to Cyn-Tech Ventures Ltd. with a consolidation of capital on a 1-new-for-3-old-share basis. The transfer agent is Montreal Trust.
Cominco Res. pursues copper interests
Copper is featured more prominently than gold in the current list of projects being actively explored or developed by Cominco Resources International (TSE) around the world. And more projects could be…
Three rivals vie for Nova-Cogesco’s $5-million in cash
Cash-rich Nova-Cogesco Resources (TSE) has become the object of a bidding war between a health care company operating out of Texas, a west coast gold explorer, and a Toronto-based mining company. Vanc…
NEWS ROUNDUP — Larche buys Moneta stake
A control block of stock owned by Trans-Dominion Energy Corp. of Calgary has been acquired by John Larche of Timmins, Moneta Porcupine (TSE) announced. Martin Hall and Thomas Vukovich resigned from th…
STOCK MARKETS — Gold issues hard hit by abrupt end to price
Gold stocks added some volatility to an otherwise sluggish Toronto market during the week ended Aug. 18. Gold fell to a new yearly low before bouncing back slightly to US$336.10 per oz. in London. The…
Spot prices at a glance (August 24, 1992)
Week’s Price (US) Change Gold* $338.60 – $7.90 Silver* $ 3.80 – $0.09 Platinum* $347.75 – $21.00 Nickel** $ 3.26 – $0.02 Lead** $ 0.29 – $0.01 Copper $ 1.16 + $0.02 Zinc $ 0.62 $0.00 Courtesy of Scoti…