SPOT PRICES (August 03, 1998)
Wednesday July 29, 1998Price (US)Week’s ChangeGold*$291.00- $3.40Silver*$ 5.67…
1998
MINING MARKETS & INVESTMENT NEWS – WESTERN MARKETS — Western markets spooked by economic slowdown
The Vancouver Stock Exchange composite index tumbled below the 500-level during the report period ended July 28 to close at 488.97, down 22.54 points, or 4.4%. The mining index was off 5.3%, losing 19…
MINING MARKETS & INVESTMENT NEWS — U.S. MARKETS — Dow rides roller-coaster through period
The Dow Jones Industrial Average continued its wild ride, jumping by as much as a 100 points during the report period, only to shed up to 200 points by its close on July 28. The average finished the p…
TSE SHORT POSITIONS (August 03, 1998)
Short positions outstanding at July 15, 1998Larger individual positions include: Abacan Resource 399,500; Abitibi-Consolidated 744,389, down 93,457; Alcan Aluminium 761,322, down 154,803; Anderson Exp…
Tri Origin eyes Timmins area gold
Junior Tri Origin Exploration (TOE-T) has outlined several promising gold targets at its English gold property near Timmins, Ont.The announcement follows a program of geochemical prospecting and soil …
Eastmain drills VMS targets in NB
Toronto-based Eastmain Resources (ER-T) has begun a diamond drill program at the Rocky Lake-Otter Brook property in the Bathurst camp of New Brunswick.The 1,500-metre program will target electromagnet…
Luscar bids for Canada’s largest coal miner
Luscar Coal Income Fund has launched a takeover bid for Manalta Coal Income Trust, owner of Manalta Coal, in a $550-million deal that would create North America’s sixth-largest producer.The takeover i…
Richmont boosts production
Weak gold prices do not appear to be taking much of a toll on Montreal-based Richmont Mines (RIC-T).The company posted net earnings of $1.4 million for its latest quarter ended June 30, up from $1 mil…
Smooth sailing at Freeport’s Grasberg
By expanding one of its concentrators, Freeport-McMoRan Copper & Gold (FCX-N) has achieved record throughput levels at the Grasberg copper-gold mine in Irian Jaya, Indonesia.The company, through 85%-o…
MINING MARKETS & INVESTMENT NEWS — EASTERN MARKETS — TSE hit by weak dollar, lacklustre metal prices
A devalued Loonie and poor performances in the metals sector contributed to a dismal performance by the Toronto Stock Exchange 300 index during the report period July 22-28. The index finished the wee…
Eskay Creek spins out cash for Prime
Record production and lower cash costs at the Eskay Creek gold-silver mine in northwestern British Columbia are strengthening the bottom line of cash-rich Prime Resources Group (PRU-T).Besides Eskay C…
Index (July 27, 1998)
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