Gas pipeline explosion affects Soviet smelter
A recent natural gas pipeline explosion may have resulted in lost nickel production at the Soviet Union’s Norilsk smelter complex. Cold weather is being blamed for the rupture of the pipeline, which p…
News
Metal Prices (November 27, 1989)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Nov 21 Nov 20 Nov 17 Nov 16 Nov 15 Copper …
People (November 27, 1989)
MODULAR MINING SYSTEMS — Michael Canty appointed vice- president.
NovaGold drilling Mount Pleasant to test tin potential
A small diamond drilling program has been started by NovaGold Resources (TSE) on the Mt. Pleasant tin property in New Brunswick. The company is planning to drill at least two deep holes before year- e…
News in Brief (November 27, 1989)
Micron Metals Canada Corp. (MNZ:ASE) has split its common shares on the basis of 2-new-for-1- old share held.
Managing Canada’s Mines Mixture of talents needed to face
For Denis Lachance, communication, particularly with underground operations, poses more serious problems than manpower quality. Lachance, who manages Agnico-Eagle Mine’s 0000,0600 gold operations at…
Ridgeway boosts Galactic earnings
With the Ridgeway gold mine in South Carolina still surpassing projections, Galactic Resources (TSE) emerged with its bottom line firmly in the black for the first nine months of 1989. The Vancouver-b…
Inco foresees dip, then rise, in output of valuable nickel
Total nickel production of Inco Ltd. (TSE) is expected to decline in 1990 but recover handily in 1991-92, according to the company’s chairman. Addressing a meeting of brokerage house analysts in Toron…
Barrick and LAC deals tap into new gold rally
American Barrick Resources (TSE) and LAC Minerals (TSE) have wasted little time in capitalizing from the 4-week-old gold rally. Moving quickly to take advantage of renewed investor interest in senior …
Gold funds as of Nov 21
MVP BGR Central Capital Net value $12.14 $6.23 $0.52 Price $11.875 $6.00 $0.30 Discount 2.18% 3.7% d 42.3% Value $72,273,853 $104,818,631 …
Toronto Stock Exchange Gold breaks $400-mark as rally gains steam
Surging gold bullion prices broke the psychologically important $400-mark this week as London gold closed at $409.90(US) per oz on the second fix. Gold’s strength was quickly reflected in the gold min…
Corona bids for Asamera’s stake in Cannon mine
Large gold-producer Corona Corp. (TSE) plans to add to its growing output by purchasing a 51% interest in the producing gold- silver Cannon mine in Washington State from Asamera Minerals (TSE). Corona…