LETTERS TO THE EDITOR — Crowning bullion king
Gold and silver prices may have hit rock bottom in a world with bills due and a designed shortage of paper cash, but “the bottom” is always followed by an upswing. For it to be a permanent upswing, pe…
News
Barrick decides to split stock
The success of American Barrick Resources (TSE) at the Goldstrike mine in Nevada is paying off for shareholders not only of Barrick but of Franco-Nevada Mining (TSE). Barrick announced a 2-for-1 stock…
Newmont boosts output slightly
Gold sales of 1,587,900 oz. were reported by Newmont Gold (NYSE) for 1992, compared with 1,576,900 oz. in 1991. Sales revenues (from gold) last year totalled US$546.4 million, compared with US$572.8 m…
Friedland to chair Carson Gold
A proposed private placement will bring about a change in control of Carson Gold (VSE), a junior which has been actively involved in acquiring and developing mineral properties in Venezuela since 1990…
Blind River wins safety award
Without a lost-time accident in three years, Cameco Corp.’s Blind River refinery has just set a company safety record. Its staff was recently given the Mary-Jean Mitchell Green memorial trophy for saf…
Writing contest for students
Students are invited to submit papers to a writing contest, which is sponsored by the Marine Minerals Technology Center (MMTC). Topics should pertain to advanced technology applications for marine min…
Lyon Lake, Adex in transaction
Full ownership of three gold concessions in Costa Rica is being acquired by Lyon Lake Mines (ME). Subject to regulatory approval, Lyon will purchase the 50% interest of project partner Adex Mining (TS…
STOCK MARKETS — Gold index soars on bullish reports from
Investors with shares in a wide range of industry groups were given reason to celebrate during the week ended Feb. 9 as The Toronto Stock Exchange’s 300 composite index surged by 70 points on heavy vo…
STOCK MARKETS — Furious Venezuelan activity gives push to
Action on western markets showed little sign of abating during the period ended Feb. 9, with the Vancouver Stock Exchange resource index gaining more than 37 points to finish at 785.12, an 8% increase…
Asarco reports a loss after special charges
An after-tax charge of US$122.1 million pushed Asarco (NYSE) into a loss position for the year ended Dec. 31, 1992. The company reported a net loss for the year of US$83.1 million, or about US$2.01 pe…
GOLD FUNDS (February 15, 1993)
BGR Central Net Value $8.27 $4.99 Price $6.00 $4.40 Discount 27.47% 11.8% Value $46,342,000 $74,026,920.
Cutbacks at Falconbridge Gold
In response to depressed gold prices and increasing costs, Falconbridge Gold (TSE) announced it is planning cutbacks at both its Hoyle Pond and Bell Creek operations near Timmins, Ont. At the Hoyle Po…