Cambior offering raises $86 million
The initial public offering of Cambior (TSE) raised the gold producer almost $86 million upon the recent exercise of the warrants, increasing the company’s cash account to about $136 million. Val d’Or…
News
Chevron shuts mine
Because of the deteriorating uranium market, Chevron Resources, a unit of Chevron (NYSE), has decided to shut its Mount Taylor mine near Grants, N.M. The mine will be placed on standby with ventilatio…
More gold for Placer
With the first bullion poured at the Granny Smith mine in Western Australia, yet another producing gold mine has been added to the Placer Dome (TSE) fold. Placer’s 75.8% owned Placer Pacific has a 60%…
Gold Vessel deal
Gold Vessel Resources (ASE) has entered into an agreement with St. Genevieve Resources (TSE) to buy the latter company’s interest in the Granada gold prospect near Rouyn, Que. Gold Vessel can buy a 40…
Labor dispute cited as cause for closing B.C.’s Sullivan mine
The surprise announcement by Cominco (TSE) to suspend production at the Sullivan mine has raised speculation the decision was partly the result of a smoldering labor dispute and not strictly a matter …
Armistice plans a bulk sample
A 10,000-ton bulk sample is planned by Armistice Resources (ME) from the Mill zone of its Virginiatown gold property in northeastern Ontario. An open pit method will be used to extract the sample from…
Metal Prices (January 29, 1990)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Jan 23 Jan 22 Jan 19 Jan 18 Jan 17 Copper 1340-1340 1369…
Editorial Mining under attack in South Dakota
A proposed moratorium on new mine development in South Dakota is not the first political blow to be felt by the mining industry in the U.S., but it could prove to be one of the most telling. Many in t…
Mimiska earns in
Mimiska Mining (ME) has earned a 50% interest in the Pyrite Falls project in Labrador. Noranda (TSE) holds the remaining 50%. Gold values have been encountered in wide-spaced drilling completed on a s…
Toronto Stock Exchange Indices (January 29, 1990)
1989 Jan. 23Jan. 22Jan. 19Jan. 18Jan. 17HIGH LOW Composite “300”3812.683801.513865.073857.393872.274009.473801.51 Metals & Minerals3090.563068.083115.733143.113137.043453.053068.08 Integrated mines…
Vancouver Stock Exchange Kokanee helped by Sillivan-type’ find
Uncertainty about the direction of the economy is continuing to take its toll on equity markets and base metal prices. Unless some positive indicators appear soon, analysts predict a gloomy scenario o…
Investors send gold soaring
The price of gold was on a tear upwards and the stock markets in retreat today, Jan. 24. Gold, which spent more than a few months last year below US$400, rallied today in London, where the afternoon f…