Channel to make rights offering
A planned rights offering by Channel Resources (VSE) will enable the junior to continue exploring its gold concessions in Burkina Faso, West Africa.Channel, which has 19 million shares outstanding, wi…
News
Toronto Stock Exchange joins top 10 list
The Toronto Stock Exchange has joined the top 10 list of world stock exchanges.Record trading values of US$133.4 billion catapulted the TSE to a new plateau; it now ranks 10th amongst the world’s elit…
PEOPLE — POTASH CORP. OF SASKATCHEWAN
William Doyle appointed executive vice-president; Rod Wilson appointed vice-president of sales; James Bubnick appointed senior vice-president, potash operations; Garth Moore appointed senior vice-pres…
Gold Funds (May 22, 1995)
Gold Funds as of May 16BGRCentral .TNet Value$17.25$6.66Price$14.38$6.625 Discount16.65%0.5% Value$134,841,000$119,907,863…
FirstMiss gets nod from IRS
The Internal Revenue Service will allow FirstMiss Gold (NASDAQ) to be spun off, tax-free, from parent First Mississippi (NYSE).The ruling allows the parent to distribute to its stockholders its 14.7 m…
Gold price will be determined by U.S. fund activity
Despite little variation in the gold price of late, several components in the supply-demand equation have changeddramatically.Such was the gist of a luncheon presentation, held in Toronto, by London-b…
Bre-X adds to Busang resource
With the third phase of drilling at their Busang gold project in Indonesia almost complete, Bre-X Minerals (ASE) and parent company Bresea Resources (ME) are confident reserves will exceed expectation…
Arauco begins trenching at Guindo
A large-scale trenching program is about to begin at Arauco Resources’ (VSE) Guindo gold property in southern Chile.To date, geochemical sampling and hand-trenching haveidentified at least five minera…
STOCK MARKETS — Labrador play sends waves throughout western markets
Western markets cooled over the reporting period ended May 16, 1995, with the Vancouver Stock Exchange resource index edging up 4.08 points to 1,302.61 while the composite index tacked on 1.84 points …
Toronto Stock Exchange Indices (May 22, 1995)
— 1995 — .TMay 16May 15May 12May 11May 10HighLowComposite”300″4345.614310.784268.414264.094281.244346.633983.34 Metals&Minerals4123.454058.883983.873953.443956.394337.89 327…
METALS COMMENTARY — World markets affected by consolidation
Oscillating prices, currency upheavals and speculative gains and losses continue to characterize global metal markets.The bull market in metals, which began late in 1993, entered a period of consolida…
Copper smelter profits dragging
Copper prices have risen dramatically this year, but smelters (which turn concentrate into metal) are experiencing depressed profits, says CRU International of London.The consulting firm recently rele…