METAL PRICES — Daily Metal Prices (November 10, 1997)
BASE METALS (London Metal Exchange – Midday bid/ask prices in US$ per tonne)DateNov. 4Nov. 3Oct. 31Oct. 30Oct…
1997
Barrick explores Dee at depth
Barrick Gold (ABX-T) has signed an agreement allowing it to explore the deeper potential of Rayrock Yellowknife Resources’ (RAY-T) Dee gold property in Nevada.Barrick will spend at least US$2 million …
Inmet Mining sells Troilus gold mine — Homestake, Prime pick up property for US$110 million
In what appears to be another move to dispose of poorly performing assets, Inmet Mining (IMN-T) has sold its Troilus gold mine in north-central Quebec.The buyers are the Homestake Canada unit of Homes…
High grades extend Tabakoto
Nevsun Resources (NSU-T) intersected several high-grade, steeply dipping pods of gold mineralization while drill-testing the downdip extension of the Tabakoto project in Mali, West Africa.The 50-hole,…
FACTS ‘N’ FIGURES — Exploration spending on rise
Exploration expenditures for nonferrous metals have increased for the fourth year in a row, according to a study released by Metals Economics Group (MEG).The mining research firm reports that total wo…
Drilling confirms Tres Cruces gold
Ongoing diamond drilling by Oroperu Resources (OROP-C) and joint-venture partner Pan American Silver (PAA-T) continues to confirm the presence of gold mineralization at the Tres Cruces project in nort…
Westmin to buy into Chilean copper project
Westmin Resources (WMI-T) is acquiring the right to earn a 51% interest in the Vizcachitas copper porphyry project in central Chile.The vendor, Denver-based General Minerals (gnm-t), will receive US$1…
Echo Bay takes writedown
Echo Bay Mines (ECO-T) took a writedown of US$309.8 million for the third quarter, resulting in a net loss of US$327.5 million (or $2.36 per share).Not including the restructuring charge, the loss amo…
Ashanti hits more gold in Ghana
Ashanti Goldfields (ASL-N) has hit high-grade gold intersections at its Obuasi open-pit mine in the Ashanti region of south-central Ghana.Diamond drilling from underground encountered a 21-metre inter…
STOCK MARKETS — Toronto market calms down after a stormy October — TSE golds mostly down; base metal issues hold steady
The Toronto Stock Exchange jumped off the roller-coaster this past week in favor of the calmer ups and downs of the merry-go-round.Over the report period ending Nov. 4, the TSE 300 composite index was…
A few desperate men and a salt shaker — An excerpt from The Northern Miner’s Bre-X: Gold Today, Gone Tomorrow
In March 1993, David Walsh picked up the phone, tracked down John Felderhof and said he wanted to come to Indonesia to look at mineral properties for his latest junior company, Bre-X Minerals.Walsh la…
COMMENTARY — Planning for our future
This is a time when Canadians should be considering and encouraging the startup of new mines across Canada, and time is of the essence.For too long, governments and communities have complacently accep…