Keylock venture in Czechoslovakia
Calgary-based Keylock Resources (ASE) says it has agreed to form a joint venture with Czechoslovakia’s state mining company, Rudne Bane. Under a 50-50 partnership, the two companies will evaluate all …
News
EDITORIAL PAGE (June 15, 1992)
The average rate of inflation in the developing countries fell to 49.3% in 1991, from 104.7% in 1990, according to data in the April, 1992, issue of the International Monetary Fund’s International Fin…
Gibraltar testing North zone
A 25,000-ft. drilling program recently started on the Jan/Summit claims owned by Newcoast Silver Mines (VSE) and Gibraltar Mines (TSE). Newcoast holds a 30% net profits interest in the claims with Gib…
PEOPLE (June 15, 1992)
Frederick Lee appointed president.
Echo Bay plans sale of convertible preferred shares
Gold producer Echo Bay Mines (TSE) has given notice to the U.S. Securities Exchange Commission of its intention to file a preliminary prospectus for the sale of US$100 million in convertible preferred…
NEWS ROUNDUP (June 15, 1992)
A study by The Gold Institute of Washington, D.C., says the U.S. Treasury is not an active participant in the gold market and that the country’s gold reserve is unlikely to be sold, or used in gold lo…
Sutton negotiating joint venture
After signing an exploration agreement with the Tanzania government, Sutton Resources (VSE) announced it is negotiating with a multinational major mining company to work jointly on part or all of its …
RTZ sells stake in Rio Algom to simplify holdings
British mining giant RTZ has elected to sell its 51.5% stake in Rio Algom (TSE) for $362.3 million as part of a plan to streamline its North American holdings. In a press release, RTZ said it was sell…
List of players joining rush for diamonds growing daily
A handful of new players joined the hunt for diamonds in both the Northwest Territories and northern Ontario during the first week of June as experts retained by BHP-Utah Mines and Dia Met Minerals (V…
Homestake bets on new zone as 116-year-old mine declines
San Francisco-based Homestake Mining (NYSE) is taking a huge gamble by running a US$23-million exploration drift north from its namesake gold mine in South Dakota, local geologists say. The target of …
CIM tours Homestake mine
The recent tour of South Dakota mining country, sponsored by the Canadian Institute of Mining, Metallurgy and Petroleum’s (CIM) Toronto branch, proved to be a huge success although the slot machines a…
METALS PRICES (June 15, 1992)
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date June 9 June 8 June 5 June 4 June 3 Copper 1228.5-1229.5 1232-1233 1240-1241 1226-122…