Flag hits magnetite, extends drill hole
A deep hole drilled by Flag Resources (ASE) on the Wanapitei anomaly near Sudbury, Ont., intersected 814 ft. of magnetite-bearing core from a depth of 1,900 ft. The magnetite (FE3O4) may have been con…
1993
COMMENTARY — Of the gold price, Alaskan permafrost
Analyst Ian Lamont, writing in a recent issue of the Yorkton Natural Resources newsletter: The physical demand for gold bullion is currently extremely strong and, in theory, this should cause the pric…
Futterer award to UBC student
This year’s recipient of the Futterer award is Tina Markovic. The award is given annually to the most outstanding final-year mining student in the Canadian Mineral Industry Education Foundation’s mini…
Coin demand on the rise
Demand for Canadian circulation coins increased 27% to more than one billion pieces in 1992. Most of the increase is due to public interest in the 25-cent and $1 coins of the Canada 125 coin program, …
Blusson to vend interests into a public company
Stewart Blusson recently acquired a controlling interest in Texas Sidewinder Oil (VSE), which will buy all his interests in the BHP Minerals/Dia Met Minerals/Charles Fipke/Blusson joint venture outsid…
Noranda sells Louvem shares to St. Genevieve
Noranda Minerals, a unit of Noranda (TSE), has sold its control block of 11.5 million shares of Louvem Mines (TSE) to Montreal-based junior St. Genevieve Resources (TSE) for $1.7 million (15 cents per…
Louvicourt project on time, budget
Production of the Louvicourt project is scheduled to begin in October, 1994, a short five years after discovery of the base metal deposit, northeast of here. “Quebec is still the best place to explore…
Deak begins mining operations at Astoria
Production has started at the Astoria gold mine near Rouyn-Noranda, Que., reports operator Deak Resources (TSE). Mining of 12,000 tons per month will be carried out by Val d’Or, Que.-based contractor …
Rayrock financing
Rayrock Yellowknife Resources (TSE) has entered an agreement with First Marathon Securities for a private placement of 500,000 subordinate voting shares at $12.125 per share for gross proceeds of almo…
Gold Funds (May 03, 1993)
Gold Funds as of Apr. 27 BGR Central Net Value $9.96 $5.20 Price $9.00 $4.95 Discount 9.65% 4.8% Value $55,798,000 $83,280,285…
Producer Prices (May 03, 1993)
ALUMINUM: MW U.S. market US51.25-52.25 cents per lb. (Apr. 22, 1993). ANTIMONY: MW New York dealer US78-82 cents per lb. (Mar. 11, 1993). BISMUTH: MW New York dealer US$2.35-2.70 per lb. (June 11, 199…
New financings for MinVen, Euro
A strong performance recently by the yellow metal has prompted at least two gold-producers to announce new financing. Cash-strapped MinVen Gold (TSE), which has been burdened by heavy debt and low gol…