LME WHSE LEVELS (March 03, 1997)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Feb. 24/97 (change from previous week in brackets):Aluminium901,250(-9,375)Copper220,050(-575)Lead108,475(-1,625)Nickel45,75…
1997
Sherritt earnings in holding pattern
Higher sales volumes in 1996 offset lower commodity prices and enabled Sherritt International (S-T) to post revenue and earnings similar to those achieved in 1995.Revenue of $199.2 million and operati…
Bruneau ups reserves
A drilling program by Bruneau Minerals (BRM-T) has boosted reserves at its calcium carbonate deposit in Lac St. Jean, Que., by 4 million tonnes to more than 17 million tonnes.
Sunshine Mining sees silver lining
Low silver prices took their toll on Sunshine Mining & Refining (SSC-N), which posted a net loss of US$24.8 million in 1996, compared with a net loss of US$15.4 million in the previous year.On a brigh…
PRODUCER PRICES (March 03, 1997)
ALUMINIUM: LME settlements US$1,629 per tonne, alloy $1,540 per tonne (Feb. 25/97).ANTIMONY: Composite free market, US$2,340 per tonne (Feb. 25/97).BISMUTH: Composite free market US$3.00 per lb. (Feb….
METAL PRICES — FREE MARKET (March 03, 1997)
London Metal ExchangeMidday bid-ask prices in $US per tonneDateFeb. 25Feb. 24Feb. 21Feb. 20Feb. 19…
Mid-North reports find at Lynn Lake
Partners Mid-North Resources (MNU-A) and Consolidated Callinan Flin Flon Mines (CFF-V) have intersected gold mineralization while testing a geophysical conductor on their Lynn Lake property in Manitob…
Etruscan boosts stake in Tiawa
A recent agreement has allowed Etruscan Enterprises (EET-V) to buy the remaining 44% of the shares of African GeoMin not already held by the company.African GeoMin holds the exploration permit for the…
THE DIAMOND PAGE — Dia Met forms Venezuelan partnership for alluvial property
Dia Met Minerals (DMM-T) is forming a joint venture in Venezuela to look for the hard rock source of diamonds on an alluvial property there.The Kelowna, B.C.-based company will join forces with the Ve…
STOCK MARKETS — Gold stocks gain ground in steady market
The Toronto Stock Exchange was fractionally higher over the trading period Feb. 19-25, as the gold stocks staged a strong recovery. The TSE 300 composite index closed at 6,247.78 on Feb. 25, up 9.56 p…
Sale of assets helped Westmin in ’96
A one-time gain of $62.7 million from the sale of coal assets enabled Westmin Resources (WMI-T) to post net income of $21.3 million for 1996 on revenue of $100.8 million.By comparison, the company ear…
Queenstake Res. arranges private placement
Queenstake Resources (QTR-T) will use the proceeds from a $16.4-million private placement to fund exploration and development of its properties in Chile, and elsewhere in Latin America.The financing c…