McFinley placement to raise $5 m
McFinley Red Lake Mines has entered into an agreement with Alexandra Mining, a private Bermuda-based company, for a private placement of McFinley shares. When completed, the deal will gross McFinley $…
News
Platinum seminar
The third international platinum seminar organized by Metal Bulletin and Futures & Options World will take place May 21 in London, England. Speakers confirmed for the seminar include Kevin Gribbons of…
Drilling at Terramar
Diamond drilling is under way at Terramar Resource’s Reid mine property near Redding, Calif. The purpose of the program is to explore the northern extensions of the Spanish and Evening Star veins on t…
Metal Prices PRODUCER PRICES (May 04, 1987)
ALUMINUM: MW U.S. Market 65.00 cents -66.50 cents per lb. (Apr 23, 1987). ANTIMONY: New York dealer $1.15-$1.20 per lb. (Apr 23, 1987). BISMUTH: New York dealer $2.70-$2.85 per lb. (Apr 23, 1987). CAD…
Lacana option
Lacana Mining Corp. has optioned a 48-claim silver-lead-zinc property in New Brunswick’s Millstream River area 20 mi west of Bathurst owned 60% by North American Rare Metals and 40% by Mistango Consol…
Canamax, Bruneau up Clavos reserves
New reserve figures have been calculated by partners Canamax Resources and Bruneau Mining for the Clavos Porcupine Mines property, northeast of Timmins, Ont. Drill-indicated geological reserves stand …
Centurion nearing final feasibility
A final feasibility study should be completed later this year on a placer gold project in northeastern California being optioned by Vancouver-listed Centurion Minerals. In-fill drilling is currently u…
Debt-heavy Sherritt to sell mining assets
After some 60 years in the mining business, Sherritt Gordon Mines is putting its mining assets on the selling block in hopes of easing its debt load which at $134 million is proving to be just too cum…
Denison earnings slip
Weak potash markets knocked down earnings this first quarter for Denison Mines, says President J. D. Fowler. Its 60% owned potash project near Sussex, N.B. reached commercial production status on Jan …
Montreal Exchange Onyx, Oasis active
Two companies belonging to Groupe Minier of Val d’Or, Onyx Resources and Oasis Resources, each traded more than a million shares during the past week on the Montreal Exchange. Onyx, which closed up 10…
METAL MARKETS Firm sticking to its forecast of 57 cents aluminum
Prices for aluminum may currently be running in the 64 cents (US) per pound range, but a London, England, firm is sticking with its average price forecast of 57 cents for 1987. “Following two years o…
Equity Silver quarter won’t reflect price rise
Silver has often been described as the”poor man’s gold” and it has tended to follow the yellow metal upward, something that appears to be happening again today. That could be good news for Equity Silv…