Kennecott drilling Galena Giant
Drilling recently got under way at the Galena Giant property owned by Wealth Resources (VSE) and Arbor Resources (VSE). Kennecott, which can earn a 51% interest in the property by spending US$5 millio…
News
STOCK MARKETS — Barkhor, Chapleau issues gain on drill-hole
Western markets tracked sideways during the report period with little help from depressed gold markets. Gold lost about US$7 per oz., marking a new 6-year low at the US$330-per-oz. level. The Vancouve…
Spot prices at a glance (November 16, 1992)
Week’s Price (US) Change Gold* $330.20 – $6.70 Silver* $ 3.71 – $0.09 Platinum* $354.60 – $0.65 Nickel** $ 2.53 – $0.13 Lead** $ 0.20 – $0.01 Copper $ 0.96 – $0.06 Zinc $ 0.47 – $0.02 Courtesy of Scot…
GOLD FUNDS (November 16, 1992)
Gold Funds as of Nov. 10 BGR Central Net Value $8.25 $5.14 Price $6.75 $4.80 Discount 18.14% 6.6% Value $47,980,000 $80,756,640…
Metal prices move lower
The metal and mineral sub-index of Scotiabank’s commodity price index dropped substantially in September, which is contrary to the normal seasonal pattern. The decline in base metal prices continued i…
LETTERS TO THE EDITOR — Rooting for Bern Brynelsen
Bern Brynelsen was listed as a candidate for election to the Canadian Mining Hall of Fame (T.N.M., Sept. 21/92). Contrary to your report, he did not play a large part in the discovery and development …
Greenstone acquires Nicaraguan mine
The newly acquired La Libertad gold mine in Nicaragua, a 150-ton-per-day project 78 miles east of Managua, was the focus of attention at the recent annual meeting of Greenstone Resources (TSE) in Toro…
LETTERS TO THE EDITOR — Giving credit where it is due
The article “Madsen puts hope in `Mr. Chibougamau'” (T.N.M., Oct. 26/92) appears to give credit where credit is due. That is often the case when a single source is quoted. In the article, Ram Kanwar i…
NEWS ROUNDUP — Orvana raises exploration funds
A Toronto-based mutual fund recently agreed to purchase a $450,000 unit offering from Orvana Minerals (TSE). The placement totals one million units priced at 45 cents per unit, with each unit comprise…
Mineral Outlook ’92
Scheduled for Nov. 18 at Ottawa’s Westin Hotel is the Mineral Outlook ’92 conference, sponsored by Energy, Mines and Resources Canada (EMR). The focus is on access to markets and to the lands, with sp…
B.C. unveils new labor code
British Columbia’s mining industry is expressing concerns about Bill 84, the new labor relations code introduced in the provincial legislature in late October. Tom Waterland, president of the Mining A…
OBITUARY — Roy Aitken spearheaded cleanup
Mining executive of Inco Ltd. for more than two decades, W.R.O. (Roy) Aitken died Nov. 5 after a brief illness. He was 60. Aitken was appointed assistant to the chairman and chief executive officer la…