METAL FUTURES (June 15, 1998)
Settlement prices for London Metal Exchange spot metal and three-month contracts, June 9/98 (US$ per tonne):MetalsCash Price3 Month Price…
1998
NEVADA AND THE WESTERN STATES — Getchell posts big first-quarter loss
Although Nevada miner Getchell Gold (GGO-T) posted a substantial first-quarter loss, reserve expansion at its namesake mine, ongoing construction at the Turquoise Ridge project and hedging leave it we…
MINING MARKETS & INVESTMENT NEWS — EASTERN MARKETS — Gold sinks on central banker’s comments
The Toronto Stock Exchange was held within a narrow trading range over the June 3-9 report period, with the TSE 300 composite index rising marginally to 7,535.43 points. Both mining sub-groups fell sl…
PRODUCER & DEALER PRICES (June 15, 1998)
Aluminium: LME settlements US$1,316, alloy US$1,250 per tonne (June 9/98).Antimony: Representative mid-market US$1,450 per tonne (June 9/98).Bismuth: Representative mid-market US$3.70 per lb. (June 9/…
Southern Africa identifies pipes
Drilling by Southern Africa Minerals (SAF-T) has identified four kimberlites at its Mosomane concession in Botswana.The discoveries were made 50 km north of Gaborone, beneath the sands of the Kalahari…
NEVADA AND THE WESTERN STATES — X-Cal completes negotiations for Sleeper gold project — Amax-Kinross merger won’t affect joint-venture terms
Partners Amax Gold (AU-N) and X-Cal Resources (XCL-T) have signed an operating agreement for the exploration and development of the Sleeper gold project in northern Nevada.X-Cal, the operator of the 5…
Dynacor Mines sees depth potential at Siscoe
Drilling by Dynacor Mines (DYN-M) has uncovered gold mineralization at depth at the company’s Siscoe project in Quebec’s Val d’Or camp.The $1.2-million, 13,000-metre drill program, which was launched …
NEVADA AND THE WESTERN STATES — European American completes acquisition
In the Battle Mountain trend of central Nevada, newcomer European American Resources (EPAR-O) has completed the acquisition of the Prospect Mountain project, adjacent to Homestake Mining’s Ruby Hill g…
NEVADA AND THE WESTERN STATES — High Desert gets boost from royalties
Higher reserve figures for the two largest gold producers in Nevada’s Carlin trend mean higher royalty revenues for High Desert Mineral Resources (HDR-V).Barrick Gold (ABX-T) recently announced that r…
LME WHSE LEVELS (June 15, 1998)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at June 8/98 (change from June 1 in brackets):MetalStocks(tonne)Change…
TSE SHORT POSITIONS (June 15, 1998)
Short positions outstanding at May 31, 1998Larger individual positions include:Abacan Resource 274,619; Aber Resources 108,900; Abitibi-Consolidated 367,927, down 436,300; Agnico-Eagle Mines 178,150, …
Red Lake deal extended
Vancouver-based ITL Capital (ICL-V) has been granted an additional year to earn a 50% interest in a gold property in Ontario’s Red Lake camp.The company now has four years to earn a 50% interest in th…