GOLD FUNDS (January 11, 1993)
BGR Central Net Value $7.99 $5.07 Price $6.25 $4.50 Discount 21.82% 11.2% Value $45,448,000 $75,709,350.
News
NEWS ROUNDUP — Homestake buys Prime shares
A Canadian subsidiary of Homestake Mining (NYSE) recently acquired 2.03 million shares of Prime Resources Group (VSE), thereby increasing its total holdings to about 54% of Prime’s outstanding shares….
COMMENTARY — The drift to South America
One of the most significant features in the gold mining business during the past two years has been the growing interest in South America as a place to explore and develop gold mines. Aside from the o…
PROFILE — Falconbridge’s Pugsley clearing obstacles to
At the northern tip of Quebec’s Ungava Peninsula, the Raglan project is under vigorous study by owner Falconbridge Ltd. “Raglan has the potential to replace the decline in our ore reserves elsewhere a…
NEWS IN BRIEF (January 11, 1993)
Golden Princess Mining Corp. (GLP:VSE) has changed its name to Pandora Industries Inc. (PDR:VSE) with a consolidation of capital on a 1-new-for-5-old-share basis. The transfer agent is Montreal Trust …
Sluggish economy hampers Manitoba incentives program
Manitoba’s new Mineral Exploration Incentives Program (MEIP) is off to a slow start. The 3-year, $12.5-million grant program, designed to stimulate petroleum and mineral exploration and development in…
Hemlo Gold, Lodestar plan drill program for Taurus
Results from Noranda Explorations’ initial work program on the Taurus property have prompted partners Hemlo Gold Mines (TSE) and Lodestar Explorations (VSE) to plan a drill program for early 1993. Hem…
Record trading year for ASE
It was a record year for the Alberta Stock Exchange, which had almost $1 billion in trades in 1992. The volume of trades rose by about 31%, to 865 million shares, from the previous year, the Canadian …
HudBay positions itself for growth
With two mines in Manitoba having closed in the last 18 months, and two others in the Snow Lake division approaching the end of their productive lives, Hudson Bay Mining and Smelting (TSE) might seem …
1992 — A LOOK BACK — New U.S. mining projects
Several projects in the U.S. came on stream last year. Marking its third producing property, USMX (NASDAQ) brought its Yankee mine into production by pouring gold on June 24. The Yankee operation, nea…
Kemess progressing toward mine development application
Ongoing work on the South Kemess gold-copper property in north-central British Columbia is expected to advance the project to prefeasibility status by April. El Condor Resources (VSE), operator and 60…
EDITORIAL PAGE — The overseas look
More than a few words come to mind when trying to describe the past year, but two in particular — cutbacks and globalization — seem appropriate in trying to capture the flavor of 1992. At first glan…