Spot prices at a glance (December 19, 1988)
Week’s Price (US) Change Gold (per oz) $419.60 -$ 5.75 Silver (per oz) $ 6.14 +$ 0.03 Platinum (per oz) $598.00 -$ 1.00 Copper (per lb) $ 1.59 +$ 0.05 Lead (per…
News
Initial work by Monopros suggests pipe not viable
Test work conducted by Monopros Limited at its diamond prospect in the Shellbrook area of Saskatchewan suggests the kimberlite structure found there is not economically viable. Monopros, a subsidiar…
Cookie-jar mining considered for Kennedy River gold project
A new low- cost method of mining narrow vein gold deposits called “cookie jar mining” is being considered by International Coast Minerals (VSE) for its gold project in the Kennedy River camp on Vancou…
Editorial Alarm bells are ringing
From a recent presentation by Lionel Kilburn at a seminar sponsored by the Prospectors and Developers Association of Canada. In the spring of 1988, two significant papers were presented by senior exec…
X-Cal discovers new zone at Snowbird
A new gold- bearing area called the East zone was located by X-Cal Resources (TSE) along a 1.5-km length of previously unexplored structure at its 100%-owned Snowbird gold project near Fort St. James,…
Bullish outlook for base-metal producers
Base metal prices may slip back next year from their 1988 highs if economic growth slows but they will likely remain significantly above their early-1980s lows for the period 1989-1993, London-based M…
Investment Comment Inco’s recap plans make it a buy
With a resounding 72% of shareholders approving Inco Ltd.’s controversial recapitalization plan, investors continue to support the company’s share price around the $39 mark. The recapitalization plan,…
La Fosse drilling underground at old Louvicourt mine
Earning a 10% interest in property 10 miles east of Val d’Or, Que., by carrying out underground exploration work is La Fosse Platinum (TSE). Owner of the property is COATS-listed Louvicourt Gold Mines…
INSIDER TRADES (December 19, 1988)
Dolphin — P. Brown bought 33,200 (Oct) @ $1-1.05 to hold 88,800. Laverty Red Lake — T. Gillett sold 210,000 (May) @ 72.5 to hold nil. Muscocho — Echo Bay bought 47,000 (Nov) @ $4 to hold 8,846,29…
News in Brief (December 19, 1988)
Unicorn Resources has changed its name to Pacific Unicorn Resources (PUC:VSE) on a 1-new-for-5-old share basis.
Inco Gold ups investment in High River
Following the merger of High River Resources (VSE) and Nor- Acme Gold Mines (TSE), Inco Gold will be entitled to own up to 40.1% of the new company. Inco Gold’s is a wholly-owned subsidiary of Inco Lt…
Northgate ups stake in Audrey Resources
Toronto-based Northgate Exploration (TSE) has increased its stake in Audrey Resources (TSE) from 20% to 28% by acquiring a block of 850,000 common shares from NIM and Co. Ltd. and CMP Resources Partne…