Spot prices at a glance (February 24, 1997)
Wednesday, February 19, 1997Price (US)Week’s ChangeGold*$346.10+ $9.20Silver*$ 5.2…
News
Uranium Resources boosts earnings
The improved uranium market enabled Uranium Resources (URIX-Q) to report net earnings of US$262,000 for its 1996 fourth quarter, compared with a loss of US$41,000 for the same period a year earlier.Th…
Copperstone drills at Lucifer
Drills are turning on the Lucifer concession in Baja California Sur, Mexico.Copperstone Resources (CPP-V) is earning an 80% interest in the project from Island-Arc Resources (IAR-V).The 1,500-metre, 1…
Keylock Res. gets nod for foreign venture
The Alberta Stock Exchange has given its conditional approval for Keylock Resources (KL-A) to acquire all the shares of Centramining, a private company with interests in four gold projects in Kazaksta…
LITERATURE REVIEW — NEWS ROUNDUP — Great Lakes restructures
At a special meeting in late January, more than 98% of the shareholders of Great Lakes Minerals (GKM-T) approved the sale of the company’s Mexican assets to a wholly owned subsidiary, Newmex Mining.Th…
“We found too much gold” — Freeport-McMoRan to develop Busang, Bre-X retains 45% interest
The open bidding process had been going on all the time.Freeport-McMoRan Copper & Gold (FCX-N) will be the developer of the Busang gold project in northeastern Kalimantan, Indonesia, following an agre…
LITERATURE REVIEW — NEWS ROUNDUP — Verena seeks Rainbow jewels
A bulk-sampling program by Verena Minerals (VMCO-C) will test alexandrite and emerald deposits at the Rainbow project in Brazil. The junior controls more than 1.2 million ha of prospective gold and ge…
LITERATURE REVIEW — NEWS IN BRIEF
International Pursuit (IPJ-T) has reversed its decision to purchase shares of Western America Resources (WAR-A), after closing conditions for the purchase agreement between the two companies were not …
EDITORIAL PAGE — Footprints over Voisey’s Bay
After meeting in Montreal to discuss their overlapping areas of aboriginal use and occupancy, the Labrador Metis Association and the Nunavik Inuit of northern Quebec formed a coalition to “protect the…
LITERATURE REVIEW — Dayton announces debenture
A financing proposal has been accepted by Dayton Mining (DAY-T) whereby the company will issue unsecured convertible debentures in the aggregate amount of US$60 million.This amount can be increased to…
LITERATURE REVIEW — NEWS ROUNDUP — Richmont files issuer bid
In the belief that its shares are undervalued, Richmont Mines (RIC-T) has filed notice that it intends to make a normal course issuer bid to buy its shares on the Montreal and Toronto exchanges.Up to …
LITERATURE REVIEW — Cameco reports record earnings
A general improvement in world uranium markets enabled Cameco (CCO-T) to report record earnings of $138 million last year — a 35% increase from earnings of $102 million reported in 1995.Revenues doub…