METAL MARKETS
ZINC: Producers report reasonably steady sales as consumers continue to buy on a month-to-month basis. In spite of London Metal Exchange (LME) inventories increasing in April from 221,575 to 239,325 t…
News
U.S.REPORT (May 11, 1992)
The sale of subsidiary Tenneco Minerals to Solvay America for US$500 million in cash was announced recently by Tenneco Inc. of Houston. Tenneco Minerals mines and processes trona ore to produce soda a…
Fluor awarded $180-million HudBay contract
Fluor Daniel has secured a $180-million contract to upgrade Hudson Bay Mining and Smelting’s (TSE) processing operations at Flin Flon, Man. The contractor’s mining and metallurgical wing, Fluor Daniel…
Viceroy sets standard for California mines
The official opening of the Castle Mountain gold mine in this historic mining district was a day of celebration for Viceroy Resource (TSE), a persistent and progressive junior company which overcame a…
Rhonda options Noranda prospect
A letter of intent has been signed between Rhonda Mining (ASE) and Noranda Exploration whereby Rhonda may earn a 50% interest in a copper property in the Coppermine area of the Northwest Territories b…
NEWS IN BRIEF (May 11, 1992)
Premier Gold Resources Inc. (PGL:VSE) has changed its name to Cryptic Ventures Inc. (CYV:VSE) with a consolidation of capital on a 1-new-for-3-old-share basis. The transfer agent is Pacific Corporate …
Seabee’s mill built with money meant for shopping malls
Claude Resources (TSE) has become involved in a controversy surrounding investment funds set up for would-be Canadian immigrants after running into financing and operational difficulties at its Seabee…
Lakewood, Green Valley react to drill `reports’ for Wood
Western markets leveled off during the period ended May 5, with the Vancouver Stock Exchange composite index finishing up 5.74 points to the 620 level and the resource index slipping just under three …
Ottawa gold selling continues
All that government gold — 12.3 million oz. at the end of March — no longer glitters as it once did. However, despite depressed prices, there’s still a silver lining in those gold bricks gathering d…
LETTERS TO THE EDITOR (May 11, 1992)
In its 1990 annual report, Glimmer Resources stated it has reserves in Hislop Twp. in northeastern Ontario of 1.07 million tons (968,190 tonnes) grading 0.34 oz. gold per ton. When one compares this d…
Melinga drills Honduran property
A track-mounted reverse circulation drill was recently mobilized by Melinga Resources (VSE) to test recently identified geochemical and geophysical targets on the Macuelizo gold-oxide copper prospect …
Placer Dome cuts workforce at mines
Several Canadian mines owned and operated by Placer Dome (TSE) will be restructured in order to reduce operating costs and meet existing production targets with fewer employees. The initiative was not…