MOST ACTIVE ISSUES (September 21, 1998)
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News
WMC advances Meliadine West gold target — Pending drill results, project could go underground
WMC International, a division of Australian-based major Western Mining Corp. (WMC-N), is nearing completion of a drilling program aimed at expanding the Meliadine West gold project in the Northwest Te…
TSE SHORTS (September 21, 1998)
Short positions outstanding at Aug. 31, 1998Larger individual positions include:Abacan Resource 46,500, down 252,800; Abitibi-Consolidated 1,984,832, up 1,140,064; Alcan Aluminium 1,118,635, up 377,84…
Afema pours last gold
With production ceased at its Afema gold mine in Ivory Coast, troubled Eden Roc Mineral (EDN-T) has racked up more losses.For the second quarter ended June 30, the junior posted a loss of $1.7 million…
Geomaque drills in Honduras
Geomaque Explorations (GEO-T) has completed its second phase of drilling at the Vueltas del Rio gold deposit in northwestern Honduras.Consisting of 72 diamond drill holes totalling 5,500 metres, the d…
Troymin options prospect
Subject to regulatory approval, Troymin Resources (TYR-A) has optioned its St. Maurice nickel-cobalt prospect to Ormico Exploration (OMX-M).Situated in the La Tuque area of central Quebec, the 16-clai…
NovaGold buys Shotgun stake
At a cost of US$900,000, NovaGold Resources (NRI-T) has completed the acquisition of a 49% interest in the Shotgun and Sleitat claim groups in southwestern Alaska.The company now expects to complete i…
MINING MARKET & INVESTMENT NEWS — Life after near-death for Bro-X Minerals
Moribund Bro-X Minerals has agreed to merge with MacDonald Oil Exploration (MACO-C), subject to necessary approvals.The merger proposal calls for MacDonald Oil shareholders to receive one share and on…
Cambior reaps benefits from base metal production
Unlike many other gold producers, which stick to a gold-only philosophy, Cambior (CBJ-T) has taken up base metal production with enthusiasm. The Montreal-based company deliberately moved into base met…
Dia Met finds seven new kimberlite pipes — Ekati mine scheduled to open in mid-October
Exploration drilling on the Ekati mine site project in the Northwest Territories has identified seven additional kimberlite pipes, raising to 107 the number found there to date.Six of the seven pipes …
LME WHSE LEVELS (September 21, 1998)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Sept. 15/98 (change from Sept. 8 in brackets):MetalStocks(tonnes)Change…
Sherritt stays afloat despite low prices
Sherritt International (S-T) posted a profit in the second quarter, when lower nickel prices were partially offset by lower operating costs and higher cobalt prices.The Toronto-based company earned $1…