U.S. REPORT Win-Eldrich extends option
Win-Eldrich Mines (TSE) has extended its option to Billiton Minerals for the purchase of its Ashdown gold property in Nevada to July 4, 1991. Billiton, a unit of Shell Oil, previously paid US$200,000 …
News
U.S. REPORT Newmont working to reduce debt
The controlling shareholder of Newmont Gold (NYSE), the largest gold producer in North America, reports making progress in its efforts to reduce its debt load. In its 1990 annual report, Newmont Minin…
Phelps Dodge options B.C. porphyry
A recent letter of agreement will allow a Canadian unit of Phelps Dodge (NYSE) to earn a 100% interest in 108 units held by World Wide Minerals (VSE) near Princeton, B.C. World Wide Minerals’ land pac…
Liberian earnings (April 22, 1991)
Net profit of US$572,475 (14 cents per share) has been reported by Liberian Iron Ore (TSE) for the first three months of 1991, compared with a net profit of US$29.7 million ($7.52 per share) in the ye…
Metal Prices FREE MARKET (April 22, 1991)
ondon Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date April 16 April 15 April 12 April 11 April 10 Copper 1359-1361 1353-1354 1376-1378 137…
Teck buys stake in Prime, picks up property options
Following the collapse of an estimated $5-million financing deal earlier this year with a “major mining company” widely believed to be Kennecott, Prime Equities (VSE) has negotiated a funding deal wit…
No comment yet on Brunswick strike
Striking miners at Brunswick Mining & Smelting’s (TSE) lead-zinc operation in New Brunswick recently voted 64% against the company’s latest offer, which included a 24% wage increase over 42 months. Re…
Inco chairman in optimistic mood
If Inco’s (TSE) performance is any indication of the overall health of the industry, base metal mining may be on the verge of a turnaround. As Chairman Donald Phillips stressed at the opening of this …
GOLD FUNDS (April 22, 1991)
Gold funds as of Apr. 16 BGR Central Net Value $9.19 $5.09 Price $7.63 $4.800 Discount 16.97% 5.7% Value $54,739,816 $80,756,640…
Van Stone up and running
Shipments of zinc concentrates from the Van Stone zinc mine owned by Equinox Resources (TSE) and a syndicate of European investors have started. The concentrate is shipped from the mine in northern Wa…
Alcan posts dismal first quarter
Blaming economic woes in both North America and Brazil, two of the company’s most important markets, Alcan Aluminium reported a net loss of US$1 million (3 cents per share) for the first quarter of 19…
U.S. REPORT Eastmaque reports record production
The American Girl Mining joint venture reported record production for the month of March, producing 7,345 oz. gold from its open pit and underground operations. Eastmaque Gold Mines (TSE) owns a 50% i…