Shipes to try SX-EW at Caribou
A new management team led by Arimetco International (TSE) Chairman Roy Shipes has taken control of Breakwater Resources (TSE), after shareholders of Breakwater approved a debt restructuring plan. Ship…
News
Senior gold producers respond to Newmont Mining purchase
Newmont Mining believes the worst is over for gold and to prove it, North America’s biggest gold producer spent US$126 million during the week ended May 5 to buy 375,000 oz. of the yellow metal. The N…
EDITORIAL PAGE (May 11, 1992)
After 94 years, the Canadian Institute of Mining, Metallurgy and Petroleum is still capable of putting on a remarkable convention and annual meeting for its 12,000 members, but the institute has to gr…
Pegasus’ quarterly output jumps
A production record of 64,200 oz. gold was set by Pegasus Gold (TSE) for the 1992 first quarter, a 56% increase over the 41,100 oz. produced during the comparable 1991 period. The Spokane-based compan…
Gibraltar amends Newcoast agreement
The amendment to the property interest agreement between Newcoast Silver Mines (VSE) and Gibraltar Mines (TSE) clears the way for a 19,300-ft. diamond drilling program on the Gibraltar North zone this…
MINER DETAILS (May 11, 1992)
British Columbia’s mining industry and the New Democratic Party traditionally mix like oil and water. The two solitudes clashed when Dave Barrett took power in 1972, and it’s beginning to look like it…
Cominco Int’l seeks funds for refinery, Turkish project
In order to fund expansion plans at the Glenbrook nickel refinery and development work at a copper project in Turkey, Cominco Resources International (TSE) recently announced plans to raise $20 millio…
Yellowjack drilling tests Katie claims
A recent hole drilled by Yellowjack Resources (VSE) to further test the Main zone on the Katie claims returned 426 ft. grading 0.2% copper and 0.008 oz. gold per ton from 226-650 ft. The company recen…
CORRECTION (May 11, 1992)
TVX Gold (TSE) director Glenn Ives recently bought 1,000 shares of the company for $3.40 to hold 1,000 directly. Incorrect information was reported in the May 4 issue of The Northern Miner.
INSIDER TRADING (May 11, 1992)
Wheaton River Minerals (TSE) Chairman Ian McDonald continues to be one of the junior resource industry’s most active insiders. In any given week, McDonald’s name usually appears in the Ontario Securit…
Shipping lane could prompt boom north of Yellowknife
The MV Arctic set sail this week from Halifax en route to the Nanisivik terminal on Baffin Island to pick up about 25,000 tonnes of lead and zinc concentrates before heading to Europe. In June, the sh…
Spot prices at a glance (May 11, 1992)
Week’s Price (US) Change Gold* $336.75 + $2.00 Silver* $ 4.07 + $0.13 Platinum* $352.65 + $11.90 Nickel** $ 3.35 – $0.03 Lead** $ 0.24 $0.00 Copper $ 0.99 – $0.01 Zinc $ 0.63 + $0.01 Courtesy of Scoti…