Metal Prices — FREE MARKET (November 15, 1993)
London Metal Exchange Spot closing prices in $US per tonne Date Nov. 9 Nov. 8 Nov. 5 Nov. 4 Nov. 3 Copper 1637-1638 1641-1642 1653-1654 1627-1628 1620-1621 Lead 398-399 395-396 399-400 393-394 392-393…
1993
Noranda posts quarterly loss of $10m
The mining and metals division of Noranda (TSE) lost $10 million in the third quarter, compared with earnings of $48 million in 1992. Nevertheless, exploration resulted in some encouragement, includin…
Westward selling Preview project
Faced with a financing deadline, Westward Explorations (VSE) will sell its 20% interest in the Preview Lake gold project in Saskatchewan. Cameco and Uranerz Exploration and Mining, which hold 50% and …
Welcome North restructuring
Following completion of a $2-million private placement and a share consolidation, Welcome North Resources (VSE) will retain M.O.F. Management to manage the company’s investments. Welcome North operate…
Arizona Star sticks with Aldebaran
A positive pre-feasibility study of the Aldebaran property in Chile has prompted Arizona Star (VSE) to proceed toward completion of a final study. Arizona Star is earning a 51% interest in the propert…
Nunavut open for business (November 15, 1993)
Canada’s aboriginal people are sometimes accused of being anti-development. But nothing could be further from the truth, according to Paul Quassa, president of Nunavut Tunngavik, a corporation compose…
Underground expansion in the cards at Campbell mine?
Officials of Placer Dome (TSE) are seriously considering extending the life of the Campbell gold mine in Balmerton, Ont. The estimated price tag: $40 million. “We are assessing various options for dev…
NEWS ROUNDUP — Metall shows results from Schreiber
A 10-hole, 2,163-metre program has wound down at the Big Duck gold property near Schreiber, Ont., reports operator Metall Mining (TSE). Two holes were completed on the Coco-Estelle zone, which is west…
Wheels in motion for merger between Hecla Mining and Equinox
The wheels are in motion for a merger between Hecla Mining (NYSE) and Equinox Resources (TSE). The agreement-in-principle, initiated by Hecla, calls for Equinox shareholders to receive 0.3 Hecla commo…
Operating improvements boost Homestake’s take
Operating improvements at several mines enabled Homestake Mining (NYSE) to boost earnings and lower production costs during the first nine months of this year. Net income of US$39.6 million was record…
High-altitude bioleaching — Chilean projects nearing
At a time when most conventional copper producers are being battered by sagging prices, two Canadian companies are hoping to take advantage of cheaper solvent extraction-electrowinning (SX-EW) technol…
TSE Short Positions (November 15, 1993)
Semi-monthly reports as of Oct 31, showed 76,776,043 shares of 792 issues compared with 73,370,624 shares of 797 issues on Oct 15. Larger individual positions included: Aber 124,200; Agnico-Eagle 249,…