NEWS IN BRIEF (June 15, 1998)
Dragoon Resources (DGN-V) has changed its name to Seabridge Resources (SEA-V) on a 1-new-for-10-old-share basis.
News
NEVADA AND THE WESTERN STATES — Golden Phoenix raises funds for exploration
With the help of IBK Capital, Golden Phoenix Minerals (GPXM-O) is raising up to US$3.5 million in equity financing, most of which will be used this year to fund exploration on its principal properties…
NEVADA AND THE WESTERN STATES — Low-cost Cortez mine leads Placer Dome’s pack
Although it produces gold at a multitude of operations strewn across four continents, Placer Dome(PDG-T) is mining the yellow metal most economically at the Cortez minein Nevada.Placer, as operator, h…
SPOT PRICES (June 15, 1998)
Wednesday June 10, 1998Price (US)Week’s ChangeGold*$294.15+ $0.80Silver*$ 5.36…
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…
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…