Metal Prices FUTURES PRICES (January 09, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US per lb.) Jan 154.50 152.00 151.70 + 0.70 Feb 146.10 146.10 …
News
BHP, Glencairn drilling
BHP Utah Mines is beginning a 4,000-ft drill program on a property held under option from Glencairn Explorations (ASE). Known as the Blue Mountain property, the claims are located west of Kirkland Lak…
U.S. REPORT Atlas Gold loss resulted from battle with Blasius
A net loss of $1.92 million(US) or 65 a share was reported by Atlas Gold Corp. for the first fiscal quarter ended Sept 30. This compares with a net loss of $17,000 or 1 a year earlier. President Rich…
Homestake subsidiary initiates cost study
Primarily because of a major cost over-run for road access which was largely out of its control, North American Metals (VSE), a 73.2%- owned subsidiary of Homestake Mining (NYSE), is preparing an inte…
Continental to merge with United Lincoln
Affiliate companies Continental Gold (VSE) and United Lincoln Resources (VSE) plan to merge. The amalgamation will be on the basis of one Continental share for one share of the new company. United Lin…
Argyle begins program on Pickle Lake property
A first-phase drill program operated by Argyle Ventures Inc. (VSE) is about to begin on the Dorothy Lake gold property in the Pickle Lake area of Ontario. Path Resources, a private company, is spendin…
Editorial Inco pays its way
Inco certainly marches to the beat of a different drummer. After declaring a special dividend that will put it $1.5 billion in debt, there were legitimate questions raised about whether the company wa…
Inco plans to spend $500 million to cut acid rain emissions
Inco Ltd. (TSE) has advised the Ontario government that it will spend nearly $500 million over the next five years to reduce sulphur dioxide (SO2) emissions from its Sudbury, Ont., smelter complex. Em…
Drilling continues on Asquith’s Matona mine gold property
The first 12 holes of an 8,000-ft diamond drilling program have been completed on Asquith Resources (COATS) Matona mine property in Tyrrell Twp., 20 miles west of Gowganda, Ont. The program, currently…
Britsh Columbia bans exploration in all parks
In an effort to reduce escalating confrontations over land use in British Columbia, Parks Minister Terry Huberts and Mines Minister Jack Davis formally announced in late December that mineral explorat…
Canamax reduces debt load to Amax Gold and Nat West
Denver-based Amax Gold has emerged with a larger stake in affiliate Canamax Resources (TSE). Following Canamax’s decision to repay $5 million of an outstanding loan to the Denver company, Amax has inc…
Wollastonite discovery
NYCO, a division of Processed Minerals Inc., has made a signi- ficant discovery of wollastonite near Lewis, N.Y. Exploration near the company’s operating wollastonite mine was initiated in 1986. Drill…