U.S. REPORT — Asarco drops Southern Cross
Having drilled only half of an 11,000-ft. program, Asarco (NYSE) has dropped its option on the Southern Cross property in Montana. It had the right to earn a 60% interest from owner International Maho…
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PRODUCER PRICES (August 16, 1993)
ALUMINUM: MW U.S. market US56.75-57.5 cents per lb. (Aug. 5, 1993). ANTIMONY: MW New York dealer US76-80 cents per lb. (June 10, 1993). BISMUTH: MW New York dealer US$2.35-2.70 per lb. (June 11, 1992)…
Mill considered for Round Mountain
A mill capable of processing 8,000 tons per day of non-oxidized and high-clay ores is being considered for the Round Mountain gold mine in Nevada, Echo Bay Mines (TSE) reports. The company owns half o…
Newhawk drilling at Sulphurets
Two separate drill programs are being carried out this summer by Newhawk Gold Mines (TSE) on the Sulphurets property, 60 km north of Stewart, B.C. Work on the 60%-owned Bruceside project is to focus o…
LETTERS TO THE EDITOR — Prices of diamond stocks just don’t
Since you provided space for readers who were incensed by Paul Sarnoff’s article (“Canadian Diamond Stocks Can Be Dangerous to Your Wealth” in the July 7/93 Gold Stock Advisory), I hope you will also …
Chilean deposit draws bidders
Australian-based North Broken Hill Peko is considering bidding to develop Chile’s huge El Abra copper deposit. The announcement came two weeks after Australia’s biggest company, BHP, said it was consi…
TSE SHORT POSITIONS (August 16, 1993)
Semi-monthly reports as of July 31, showed 80,264,553 shares of 723 issues compared with 82,360,427 shares of 728 issues on July 15. Larger individual positions included: Aber 117,500, up 10,500; Agni…
Glimmer arranges private placement
The president of Glimmer Resources (VSE), George Kent, and the company have negotiated a $200,000 placement of 172,500 flow-through shares and 77,500 common shares at 80 cents per share. The share pri…
New investor in Bakyrchik mine
The Bakyrchik gold mine in northeastern Kazakhstan has a new investor. Bakyrchik Gold PLC, created by Minproc Holdings of Australia and Chilewich International of New York, has acquired a 40% interest…
Athabaska revises Ramrod agreement
A revised agreement between Athabaska Gold Resources (TSE) and Consolidated Ramrod Gold (TSE) has been approved by Royal Oak Mines (TSE). Royal Oak, which owns 3.4 million shares of Athabaska, tried t…
NEWS ROUNDUP — Campbell sale is completed
Toronto-listed Northgate Exploration has received regulatory approval to sell its 35% interest in Campbell Resources (TSE). Northgate will receive $29.4 million for the more than 34.5 million special …
NEWS ROUNDUP — Kinross completes U.S. mine purchases
Having completed a due diligence review, Kinross Gold (TSE) has completed its purchase of Nerco DeLamar, Nerco Metals and Palms Mining from Kennecott for $16.2 million. The principal assets of the pur…