NEWS ROUNDUP — BHP options Arizona copper bet
In Arizona, BHP Minerals International Exploration has optioned 13 state mining leases and four federal claims from MVP Capital (TSE) and Excellon Resources (VSE). The property, in the Robber’s Roost …
1993
LAST BUT NOT LEAST — Monk acquires interest in gold play
Alberta-listed Monk Gold & Resources has acquired from DSE Resources a 27% interest in a placer gold operation in Western Argentina. Monk will acquire its stake in the Cerro Mayal project for $3.2 mil…
LAST BUT NOT LEAST — Hand-Me-Down drilling planned
A second phase of drilling is planned for the Hand-Me-Down property in Nevada’s Crescent Valley. Gold Giant Minerals (VSE) and Pan-Global Enterprises (VSE) are earning a 49% interest from Hemlo Gold M…
LAST BUT NOT LEAST — Princeton sells half of Teranov
Black Hill Minerals has bought a half interest in Teranov Mining and can buy the other half from owner Princeton Mining (TSE) on or before Dec. 1, 1994. In return for the initial half interest, Black …
U.S. companies aim to fight new 8% royalty legislation
While mining companies with U.S. interests may be investing more in offshore opportunities, they are nevertheless determined to fight legislation that would make it next to impossible for them to expl…
Nova Scotia government offers hope to ailing industry
The recently elected Liberal government of Nova Scotia intends to create “a balance point” between environmental and mining interests over the next year, said Donald Downe. Downe, natural resources mi…
Placer to sell Eskay interest
In concert with the planned combination of Stikine Resources and Prime Resources Group (TSE), Placer Dome (TSE) plans to sell its interest in British Columbia’s Eskay Creek project. Placer, which hold…
Noranda funding
Proceeds from the sale of shares in Noranda Forest will be used to fund opportunities mainly in its mining and metals group, Noranda (TSE) reports. A group of Canadian underwriters will buy 12 million…
Operating problems spell losses for Amax Gold
Continuing operating problems have pushed Amax Gold (NYSE) further into the red. With third-quarter losses of US$7.4 million, the total loss for the first nine months of the year stands at US$75.9 mil…
STOCK MARKETS — News drought leaves western markets adrift
A general lack of market-moving news left western indexes drifting over our report period ended Dec. 7. The Vancouver Stock Exchange resource index added 6.67 points to close at 1,536.73 while the bro…
Spot prices at a glance (December 13, 1993)
Price (US) Week’s Change Gold* $377.15 + $7.05 Silver* $ 4.96 + $0.53 Platinum* $376.75 + $10.00 Nickel** $ 2.26 + $0.16 Lead** $ 0.20 + $0.01 Copper $ 0.76 + $0.02 Zinc $ 0.45 + $0.03 Courtesy of Sco…
GOLD FUNDS (December 13, 1993)
BGR Central Net Value $14.73 $6.20 Price $13.75 $6.875 Premium 10.9% Discount 6.67% Value $82,524,000 $112,200,576…