Westminer closes operations at Chibougamau
After months of attempting to cut costs, Westminer Canada, a unit of Australia-based Western Mining, has decided to close its two Chibougamau area mining operations. The closures, which occurred at th…
News
PRODUCER PRICES (December 07, 1992)
ALUMINUM: MW U.S. market US52.75-53.75 cents per lb. (Nov. 20, 1992). ANTIMONY: MW New York dealer US78-88 cents per lb. (Jul. 30, 1992). BISMUTH: MW New York dealer US$2.35-2.70 per lb. (Jun. 11, 199…
Gold Funds (December 07, 1992)
BGR Central Net Value $7.76 $5.18 Price $6.38 $4.70 Discount 17.89% 9.3% Value $44,588,000 $79,074,210…
NEWS IN BRIEF (December 07, 1992)
Buffalo Resources Ltd. (BUF:VSE) has changed its name to Kruger Explorations Ltd. (KRU:VSE) with a consolidation of capital on a 1-new-for-4-old-share basis.
Spot prices at a glance (December 07, 1992)
Week’s Price (US) Change Gold* $335.10 + $0.35 Silver* $ 3.76 $0.00 Platinum* $361.50 + $5.25 Nickel** $ 2.53 + $0.06 Lead** $ 0.21 $0.00 Copper $ 0.98 + $0.01 Zinc $ 0.48 $0.00 Courtesy of Scotiabank…
Newmont active at Ivanhoe venture
With leaching continuing at the Ivanhoe joint venture in Nevada, Cornucopia Resources (TSE) reported net earnings for the quarter ended Sept. 30 of US$76,000 on sales of US$643,000. Now a joint ventur…
Reserves rise at Noble Peak zinc project
Ore reserves at Noble Peak Resources’ (ASE) Crypto zinc property near Salt Lake City, Utah, are nearing the 10-million-ton threshold needed for commercial production, shareholders were recently told a…
EXPLORATION ’92 — Summer production planned for La Colorada
Full-scale gold production is being planned for next summer at the La Colorada project near Hermosillo, Mexico, held by private company Eldorado and a unit of Campbell Resources (TSE). Eldorado, which…
METAL MARKETS — Devaluation of dollar helps Canadian
The drop in world metal consumption is adding to miners’ woes as producer and terminal market metal stocks rise to the highest levels in recent years. In reaction, prices are slipping as consumers res…
Kennecott drops Lockwood property
A unit of Kennecott recently terminated an option to earn an interest in the Lockwood volcanogenic massive sulphide property near Everett, Wash. The project is owned 65% by Island-Arc Resources (VSE) …
Barrick extends search for new mines
The game plan of American Barrick (TSE) from the beginning has been to use hard cash to buy partly developed mining properties and then take them into production. Or, the Toronto-based gold producer h…
Echo Bay developing pair of Alaskan projects
Gold producer Echo Bay Mines (TSE) has two major development projects in southeast Alaska, Alaska-Juneau and Kensington. Together, they have the potential to increase annual gold production by about 4…