Spot prices at a glance (April 12, 1993)
Week’s Price (US) Change Gold* $337.15 + $0.25 Silver* $ 3.79 $0.10 Platinum* $360.60 $1.15 Nickel** $ 2.73 $0.04 Lead** $ 0.19 + $0.01 Copper $ 0.92 $0.05 Zinc $ 0.45 $0.00 Courtesy of Scotiabank. In…
News
Penny stock policy adopted
The Ontario Securities Commission is calling for a risk disclosure statement in the marketing of penny stocks. Effective June 1, such a statement will be provided (except in specified circumstances) t…
Metals sub-index declines
The metal and mineral sub-index of Scotiabank’s commodity price index declined slightly in February after two months of modest gains. The decline was largely due to stagnant base metal prices. Economi…
GOLD FUNDS (April 12, 1993)
Gold Funds as of Apr. 6 BGR Central Net Value $9.70 $5.14 Price $7.75 $5.00 Discount 20.09% 2.7% Value $54,329,000 $84,121,500…
Clarification (April 12, 1993)
The Eskay Creek deposit, north of Stewart, B.C., has diluted (by about 27%) reserves of 1.08 million tonnes grading 65.5 grams (2.10 oz.) gold and 2,930 grams (94.2 oz.) silver per tonne, plus 5.7% zi…
Hope Brook: If at first you don’t succeed . . .
Beyond such factors as grade, mining method and metallurgy, successful mining requires efficient, constant throughput from mine to mill to tailings. In its previous incarnation, under former owners BP…
Zinc miner Curragh near bankruptcy
A steady decline in zinc prices combined with repercussions from the Westray mine disaster have taken Curragh (TSE) to the brink of bankruptcy. Shortly after suspending production at its Faro lead-zin…
Royal Oak ready to take on Windy Craggy
While other companies are rushing offshore to pursue opportunities, Royal Oak Mines (TSE) is picking up bargain-priced projects in its backyard. In early April, the company completed the purchase of t…
Exploration shaft sunk at Holloway
A shaft has been sunk at Hemlo Gold Mines’ (TSE) Holloway gold project, near Matheson, Ont. The 441.4-metre exploration shaft was finished in March, on schedule and slightly under budget, says Ian Atk…
PRODUCER PRICES (April 12, 1993)
ALUMINUM: MW U.S. market US52.75-53.50 cents per lb. (Apr. 1, 1993). ANTIMONY: MW New York dealer US78-82 cents per lb. (Mar. 11, 1993). BISMUTH: MW New York dealer US$2.35-2.70 per lb. (June 11, 1992…
Kingswood buys Acadia shares
Toronto junior Kingswood Resources (ASE) will buy 12.2 million common shares (51%) of Acadia Mineral Ventures (TSE) from Hecla Mining (NYSE). In exchange, Hecla will receive five million treasury shar…
PEOPLE — VENEZUELAN GOLDFIELDS (April 12, 1993)
Ian Telfer appointed president and chief executive officer. N5…