Goldbelt hosts delegation from Kazakhstan
The collapse of the Soviet Union has prompted a number of its former republics to seek non-traditional sources of capital to develop mining projects. In late July, a delegation from Kazakhstan visited…
News
U.S. REPORT — Phelps Dodge protects price
Copper producer Phelps Dodge (NYSE) is benefiting from a hedging program that applies to about 45% of its projected 1993 output. The company reports that contracts with several financial institutions …
Richmont defining reserves
Underground drilling and development are under way at the Francoeur gold mine near Rouyn-Noranda, Que., Richmont Mines (TSE) reports. The work is aimed at defining the extension of existing zones and …
NEWS ROUNDUP — Phelps Dodge options Curator ground
Copper giant Phelps Dodge (NYSE) has agreed to earn a 51% interest in International Curator Resources’ (VSE) DSA property in Idaho. To do so, Phelps must spend US$2.5 million over six years and pay Cu…
THE DIAMOND PAGE — Lack of disclosure dampens diamond fever
Analysts are blaming the “minimalist” disclosure policy of major companies as one reason why speculative interest in Canadian diamond exploration continues to lose momentum. But others point out that …
Busy summer for Stewart area
The Stewart camp in northwestern British Columbia is abuzz this summer as work programs fly into full gear on several advanced projects. The largest is being carried out by Lac Minerals (TSE) on the R…
NEWS ROUNDUP — Ballatar to test near Sleeper mine
The AR claims next to Amax Gold’s Sleeper mine in Nevada will be tested this summer by 5,000 ft. of reverse circulation drilling, Ballatar Explorations (VSE) reports. The company hopes to intersect po…
Spot prices at a glance (August 16, 1993)
Week’s Price (US) Change Gold* $381.35 – $19.30 Silver* $394.79 – $0.50 Platinum* $393.25 – $24.50 Nickel** $392.19 – $0.03 Lead** $390.18 $0.00 Copper $390.88 $0.00 Zinc $390.39 – $0.03 Courtesy of S…
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…
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…