Commodity index shows decline
The metals and minerals sub-index increased but the all-items commodity price index of Scotiabank dropped in July by 1.4%, the index’s second consecutive monthly decline. Higher base metal and gold pr…
News
European currency turmoil lifts gold mining issues
Gold emerged as a winner during the week ended Sept. 15, jumping US$4 to US$345.70 per oz. in New York as mayhem gripped European currency markets. Shaken by the volatility that followed a half-a-perc…
Notes on Guyana
— Guyana, situated on the northeastern shoulder of South America and that continent’s only English-speaking country, is in the throes of a general election. Voting day is Oct. 5. Elections in Guyana,…
GUEST COLUMN — Jake Epp should resign
The current situation with Canada’s federal mines minister Jake Epp and his Department of Energy, Mines and Resources (EMR) is so bad that the only solution is to demand the minister’s resignation. De…
PEOPLE — PAN WORLD VENTURES
Marty Jensen appointed director.
Cazador in option deal in northern Manitoba
An option agreement to acquire a 50% interest in the Keystone Gold project in the Lynn Lake area of northern Manitoba from DCC Equities was recently signed by Cazador Explorations (VSE). Cazador can e…
Spirit Lake plans bulk sample
Once a $500,000 development and financing agreement has been signed, Spirit Lake Explorations (ME) plans to proceed with an underground bulk sample on its Edwards gold property 30 miles northeast of W…
MINER DETAILS — Bank of Canada outsells Barrick
Before the 1987 market crash, predictions that gold would exceed US$1,000 per oz. were thrown about with ease. Remember the Aden sisters, and the lineups to buy gold at US$800? These days, though, it …
RFC issues debenture to Minnova
RFC Resource Finance (TSE) says it plans to issue an unsecured 7% convertible debenture to Minnova (TSE) for $6.6 million, maturing in 10 years. Interest at 7% per annum will accrue for the first thre…
NEWS ROUNDUP — Barrick reduces Holt-McDermott staff
Fifteen employees at the Holt-McDermott mine northeast of Kirkland Lake, Ont., have just been laid off. Mine owner American Barrick Resources (TSE) attributes the layoff to a reduction in development …
LETTERS TO THE EDITOR — OSC new rules pose dilemma
The Ontario Securities Commission’s proposed new rules for marketing low-cost speculative securities by dealers who are not members of The Toronto Stock Exchange or Investment Dealers Association, I a…
METAL PRTCES — FREE MARKET
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Sept. 15 Sept. 14 Sept. 11 Sept. 10 Sept. 9 Copper 1289-1290 1279-1280 1242-1243 121…