Metal Prices Spot prices at a glance
Week’s Price (US) Change Gold* $363.75 – $ 3.30 Silver* $ 3.70 – $ 0.02 Platinum* $388.00 + $ 4.75 Nickel** $ 3.98 + $ 0.01 Lead** $ 0.27 0.00 Copper $ 1.13 + $ 0.03 Zinc* $ 0.54 0.00 Courtesy of Scot…
News
Magnacon gold mine failure means lower Hemlo earnings
Writedowns totalling $17.4 million tarnished an otherwise sterling earnings record at Hemlo Gold Mines (TSE). The company reported net income of $23.6 million (27 cents per share) for the year ended D…
Second drill rig working Freewest’s Benoit showing
A second drill rig has been mobilized by Freewest Resources (TSE) into the company’s 100% owned Lac Pusticamica property in Benoit Twp., Que., where a significant gold discovery was made earlier this …
Bio-oxidation planned Homestake, U.S. Gold team up to develop
A new partnership between Homestake Mining (NYSE)and U.S. Gold (NASDAQ) will provide for further exploration and development of the Tonkin Springs property in the prospective Battle Mountain-Cortez go…
PEOPLE PACIFIC BASIN DEVELOPMENT
Arthur Young, Rafael Hechonova and Mohamed Yusoff appointed directors; Rick Gill appointed secretary.
PEOPLE CASSANDRA RESOURCES
Victor Bradley appointed a director.
Trimin share offer expires
An offer by Trimin Resources (VSE) to purchase up to 2.2 million of its common shares at a cash price of $2 per share expired with only 556,657 shares tendered. After taking up these common shares, Tr…
Deposit for sale
Described as one of the largest unexploited copper-gold deposits in the world, the Bajo de la Alumbrera deposit in Argentina was opened for bids to potential buyers by 100% owner, Yacimientos Mineros …
Indonesia coal
Indonesia is merging its two state-owned coal companies. The new outfit will be called PT Bukit Asam. In 1990, total coal production in the country, by state and private companies, was about 13 millio…
Perceptions of risk: Rationality vs Emotion
Why is it so difficult for industry to communicate with other groups in society, such as environmentalists, workers, unions and journalists about issues of environment and health? Why do apparently ra…
Writeoffs hurt Echo Bay despite record production
Despite record gold production from its four major mines, Echo Bay Mines (TSE) lost almost US$60 million in 1990 as writeoffs on gold mining investments took their toll on operating earnings. Compared…
Pioneer finalizing Pegasus settlement
The agreement reached late last year to settle all legal disputes between Pioneer Metals (TSE) and Pegasus Gold Mines (TSE) is near completion. The agreement was conditional upon the verification of c…