METAL PRICES (August 31, 1998)
BASE METALS (London Metal Exchange-Midday official cash/3-month prices, US$ per tonne)DateAug. 25Aug. 24Aug. 21Aug. 20…
News
LETTERS TO THE EDITOR — Minister backs standards talks
In response to your editorial “Anyone Listening?” I am writing to assure your readers that the government is listening.As minister of northern development and mines, I am well aware of the importance …
MINING MARKETS & INVESTMENT NEWS — INSIDER TRADING — BMR insider off-loads shares
Published reports by the Ontario Securities Commission show that a director of BMR Gold (BGL-T) sold several blocks of shares in that company in June.Frank Varseveld sold 17,000 shares directly at 6 c…
Study gives thumbs-up to Nord in PNG
Albuquerque-based Nord Pacific (NPF-T) has concluded that the proposed Simberi Island gold mine in Papua New Guinea (PNG) can make money.Results from an in-house update of a previous feasibility study…
MINING MARKETS & INVESTMENT NEWS — More woe for Crystallex
A second law firm has filed a class-action suit against Crystallex International (KRY-T), a former high-flyer that crashed and burned after a Venezuelan court dismissed its purported effort to “enforc…
Manalta drops poison pill defence
Luscar again revises bid for country’s largest coal producer Manalta Coal Income Trust has lifted a unit-holders’ rights plan adopted to delay a hostile takeover by Luscar Coal Income Fund after that …
Record production keeps Nelson in black
Record gold production and lower cash costs at the Jilau gold mine in northwestern Tajikistan continue to keep Nelson Gold (NLG-T) profitable.The London, England-based company earned $421,000 during t…
TSE INDICES (August 31, 1998)
1998Aug. 25Aug. 24Aug. 21Aug. 20Aug. 19HighLowCom…
MINING MARKETS & INVESTMENT NEWS — U.S. MARKETS — Slumping prices hurt producers
The Dow Jones Industrial average fell 112 points (or 1.3%) during the report period ended Aug. 25, closing at 8,602.65.Slumping commodity prices, particularly for copper, continued their downward pres…
Delays at Voisey’s Bay a boon for Aussie projects
Back in December 1995, mining financier Robert Friedland went to Kalgoorlie, the gold capital of Australia, to let Australians know just what impact the Voisey’s Bay nickel project would have on the g…
Producer and Dealer Prices (August 31, 1998)
Aluminium: LME settlements US$1,328, alloy US$1,142 per tonne (Aug. 25/98).Antimony: Representative mid-market US$1,250 per tonne (Aug. 25/98).Bismuth: Representative mid-market US$3.50 per lb. (Aug. …
LME WHSE LEVELS (August 31, 1998)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Aug. 24/98 (change from Aug. 17 in brackets):MetalStocks(tonnes)Change…