Metal Prices FREE MARKET (February 11, 1991)
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date February 5 February 4 February 1 January 31 January 30 Copper 1192-1194 1200-1202 12…
1991
U.S. REPORT Mining industry in U.S. preparing to fight proposed
The U.S. mining industry “never before has faced as many challenges” as it does this year, according to the chairman of the American Mining Congress (AMC), Milton Ward, who also is president of Freepo…
Belmoral pulls purchase offer
Belmoral Mines (TSE) has withdrawn its offer to acquire working and ownership interests in the Magino and Magnacon gold projects, near Wawa, Ont. .TBelmoral says that current gold prices dissuaded the…
EDITORIAL PAGE Push button markets
What’s with the price of gold today? The Berlin Wall tumbles, the Soviet Union tries to turn a new page, oil jumps to US$40 per barrel (for a brief period, anyway) and war breaks out in the Persian Gu…
Letters to the editor Solution to Canada’s economic malaise
There are probably as many beefs about government spending as there are Canadians (T.N.M., Jan. 21/91). One could point to the continual waste by CIDA and most recently the $14 million spent on the Ya…
Correction (February 11, 1991)
Contrary to previous reports (T.N.M, Feb. 4/90), James Hunter’s legal action against Gold Bar Resources (COATS) has not been dismissed. Hunter’s application for an injunction against Gold Bar has been…
U.S. REPORT Bunker Hill ceases operations
After filing for protection under Chapter 11 of the U.S. bankruptcy code, Bunker Hill Mining (TSE) has ceased operations at its underground zinc-lead-silver mine near Kellogg, Idaho. The company laid …
EDITORIAL PAGE Major firms filling financing void
Major mining companies are quietly taking on a stronger presence in the Canadian mineral industry these days. While this might seem a novel state of affairs for junior companies that began life in the…
United Reef asked to clean up waste rock dumped 80 years ago
The Ontario Ministry of the Environment has asked United Reef Petroleums (TSE) to clean up a lake contaminated by mining waste rock over 80 years ago. Because United currently holds the lease on the l…
PROFILE Parduhn pioneers bacterial prospecting
In the late 1950s, the Soviets were the first to study the viability of using soil bacteria to locate ore. Since then others have followed suit. Nancy Parduhn, president of Cereus Exploration Technolo…
Goldbelt drilling two Glen Auden bets
Drilling started this month on two gold properties under option to Goldbelt Mines (VSE) from Glen Auden Resources (TSE) in northern Ontario. The first property, comprising 219 claims, is in Moody Twp….
Montreal Exchange Freewest sparks rush
Judging by the improved volumes, investors have decided the time is right to play a more active role. For the week ended Feb. 5, daily trading volumes ranged between 6.1 million and 7.8 million shares…