Spot prices at a glance (January 21, 1991)
Week’s Price (US) Change Gold* $403.70 + $13.00 Silver* $4.22 + $0.13 Platinum*$424.00 + $9.75 Nickel** $3.78 — $0.17 Lead** $0.27 Copper- $1.06 — $0.10 Zinc $0.52 — $0.05 Courtesy of Scotiabank. I…
News
EDITORIAL PAGE Matachewan under the microscope
The case of Matachewan Consolidated Mines is one that the mining industry in Ontario is going to be watching closely. How far the government goes in applying the Environmental Protection Act to Matach…
Grasberg boasts largest global gold reserve
An American company is claiming its Grasberg open pit mine in Indonesia has the largest published gold reserves of any of the world’s single operating mines. Freeport-McMoRan Gold (NYSE) recently anno…
U.S. REPORTS USMX discovers 3 new gold zones at Yankee project
As many as three separate gold deposits were reported to have been uncovered by USMX (NASDAQ) during a recent 116-hole drilling program on the North Yankee property in White Pine Cty., Nev. USMX repor…
Regal acquires claims covering Kirkland Lake diamond prospect
Toronto-based Regal Goldfields (COATS) has picked up nine claims covering a diamond-bearing kimberlite pipe 20 km northeast of Kirkland Lake, Ont. Discovered by LAC Minerals (TSE) in 1984, the pipe yi…
Gold goes over US$400 as Gulf war breaks out
Analysts who had predicted that the price of gold would stage a sharp rally after the Jan. 15 United Nations deadline for Iraq to withdraw from Kuwait proved to be right on the money. As stock markets…
Cheni’s drilling at J&L cuts consistent silver-zinc values
Drilling on the recently discovered Yellowjacket zone on the J&L property near Revelstoke, B.C., is returning consistently good results. Cheni Gold Mines (TSE) is funding the drilling program and can …
Fluorspar mine in Newfoundland closes due to depressed prices
A fluorspar mine on Newfoundland’s south coast has been closed indefinitely because of poor market prices. The decision comes just weeks after the mine operator’s parent company, Minworth PLC of Engla…
Inco, Vior buy out Douay bet partner
The total price to buy the interest of Cambior (TSE) in the Douay gold exploration project in the Casa Berardi region of Quebec is $750,000 plus shares of the junior mining company involved in the ven…
Last half of 1990 a struggle for VSE
Trading activity in 1990 on the Vancouver Stock Exchange was up slightly from 1989 in a year of mixed activity which witnessed strong trading volumes and values during the first seven months and a ste…
TSE tries to curb buybacks
The Toronto Stock Exchange has asked companies not to announce stock buybacks if they do not intend to purchase any of their own shares. The request was made as part of an attempt by the TSE to reduce…
Athabaska now waits for Chevron to sell Nicholas Lake stake
Vancouver-based Athabaska Gold Resources (TSE) says it has been unable to raise the financing needed to buy partner Chevron Minerals’ 40% stake in the Nicholas Lake gold project north of Yellowknife, …