Gold dips to $350
The price of gold broke out on the downside Sept. 7, shedding more than US$14 per oz. to close at $350.10 on the Commodity Exchange of New York (Comex). Late the next day, the price was holding firm -…
News
Northfield issues private placement
Toronto-based Northfield Minerals (ASE) hopes to raise $600,000 through a private placement of more than 1.3 million units at 47.5 centsper unit. Each unit consists of one share and one warrant. A war…
STOCK MARKETS — Gold price plunge drives market lower
Ouch! Gold bullion dropped like a stone following the Labour Day holiday weekend, losing US$14.40 per oz. on Sept. 7 and triggering a big selloff in the gold equities. The bullion meltdown and subsequ…
Gold fabrication demand suffers a first-half lapse
World demand for gold fabrication in the first half of 1993 dropped by 5% compared with the same period last year, despite a strong performance in the first quarter. Gold Fields Mineral Services of Lo…
STOCK MARKETS — Western markets follow senior board plunge
A 1-day, US$14-per-oz. plunge in the price of bullion led to a spate of fear and loathing in the junior gold market. Gold finished the period ended Sept. 7 down, by more than US$20 per oz., at the US$…
NEWS IN BRIEF (September 13, 1993)
Consolidated Heron Resources (CNS:VSE) has changed its name to Fintra Ventures (FVN:VSE) with a consolidation of capital on a 1-new-for-2-old-share basis. The transfer agent is Montreal Trust.
GOLD FUNDS (September 13, 1993)
BGR Central Net Value $13.59 $6.17 Price $12.00 $6.250 Discount 11.72% 1.3% Value $76,143,000 $113,120,625…
TORONTO STOCK EXCHANGE INDICES (September 13, 1993)
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Heavy Comex trading volume
Trading volume on the Commodity Exchange (Comex) of New York during the first eight months of 1993 surpassed the total trading volume for 1992. The exchange says trading volume by the end of August ex…
Holloway project inching toward production
Ontario may soon have its first gold mine since 1989. A $12-million underground exploration program at the Holloway project, 60 km east of here, is nearing completion. And partners Hemlo Gold Mines (T…
Cambior ups reserves at Omai
The reserve picture at the Omai gold mine in Guyana has suddenly expanded by 20%, a pleased Cambior (TSE) reports. The proven and probable estimate has increased to 55 million tons grading 0.047 oz. g…
Kidd may add to reserves
Deep underground exploration at the Kidd Creek mine in Timmins, Ont., has turned up potential new reserves. While precise figures are not available, speculation has it that as much as another 10 milli…