Metal Prices (December 18, 1989)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Copper 1471-1473 1493-1495 1516-1518 1526-1528 1525-1526 Lead 434-435 448…
News
Bethlehem to reopen Goldstream copper mine
Management at Bethlehem Resources (VSE) is confident that the Goldstream copper-zinc property, 80 km north of Revelstoke, B.C., will soon be brought back into production. Bethlehem and Goldnev Resourc…
Rayrock optimistic on potential to expand Stonehouse
Possibilities are good for an expansion of the Stonehouse gold deposit toward the west, Rayrock Yellowknife Resources (TSE), the project operator, says. Situated in Nevada near Rayrock’s Marigold mine…
Alberta Stock Exchange Naxos again
The Naxos Resources issue continued its upward spiral, thanks to the work the company is doing on a 6,800-acre claim block in the Shumway Lake area south of Kamloops, B.C. Trading on 575,300 shares, N…
Belmoral interested in Wrightbar drilling
Belmoral Mines (TSE) is watching with interest the drilling program being undertaken on the southern portion of the Bourlamaque Twp. property of Wrightbar Mines (ME) in northwestern Quebec. Wrightbar,…
SOB demands second study for Prime/Calpine merger
In a surprising about-face, the Vancouver Stock Exchange has backed away from its earlier request that a second independent valuation be done for the proposed merger of Calpine Resources (VSE) and Pri…
Continental Pacific plans NWT programs (December 18, 1989)
After spending over $1 million on exploration this past season, Continental Pacific Resources (VSE) plans to spend a further $2 million in the 1990 season on its two key properties in the Northwest Te…
Deep drilling by Wrightbar testing base metal potential
Assay results are expected to be released this week from a 3,000-ft hole drilled to test for the depth extension of a zinc zone on Wrightbar Mines’ (ME) Bourlamaque Twp. property, east of Val d’Or. Th…
Letters to the Editor CUB tunnel borer
We appreciate your comments on the CUB tunnel borer in your Nov 27, 1989, issue. However, there is one minor error in that we hope the machine will realistically do 1,000 ft per month. If it bores 1,0…
Montreal Exchange Trading picks up
Trading volumes were higher and the market direction definitely positive for the week ended Dec 12. The general market portfolio index jumped 31.4 points during the report period and the mining and mi…
FINANCING (December 18, 1989)
Desert Gold — gross proceeds; rec $270,000. Varitech Res — min 450,000 offered @ 55 cents per sh. Golden Peaks — gross proceeds rec $218,750. Gold Summit — min 800,000 offered @ 35 cents per sh….
Editorial Determination value
Some say it is impossible to determine the value of a mineral prospect until there is a verifiable measure of mineable ore reserves. Like a car dealer tallying up the value of his business without tak…