Roaster fire erupts at Newmont mine
A fire has caused the temperary closure of Newmont Gold’s (NYSE) refractory ore treatment plant near Carlin, Nev. The fire erupted in the electrostatic precipitator. A portion of the plant was undergo…
1994
Metal Prices — London Metal Exchange (November 21, 1994)
Spot closing prices in $US per tonne Date Nov 15 Nov 14 Nov 11 Nov 10 Nov 9 Copper 2772-2773 2781-2782 2725-2726 2695-2697 2672-2673 Lead 672-673 666.5-667.5 664-665 667-668 664-665 Zinc 1164-1165 116…
Armada financing Siberian work
Alberta-listed Armada Gold has closed the first of a 2-staged financing, with gross proceeds exceeding $2.1 million. The company issued more than 4.2 million shares priced at 50 cents each in the firs…
Inco to expand Indonesian operation
Responding to the growing demand for nickel in the Far East, Inco (TSE) has decided to expand its production facility in Indonesia. The plan, estimated to cost US$500 million, calls for Inco’s 58%-own…
MAC takes mining woes to Ottawa
Canada’s pioneers would never have believed that an industry that helped build the nation — and which today accounts for 15% of national exports — would one day find its very survival open to questi…
Correction (November 21, 1994)
The Daisy property is owned 75% by Inter-Rock Gold (ME) and 25% by Rayrock Yellowknife Resources (TSE). Incorrect information appeared in our issue of Nov. 7.
AMC, NCA plan to join forces
A pair of lobbying groups in the U.S. — the American Mining Congress (AMC) and the National Coal Association (NCA) — plan to merge. Named to head the new mining organization is Richard Lawson, who i…
American Gem, Teck form alliance
Vancouver-based Teck (TSE) has gained the right to participate in future joint ventures with American Gem (TSE). In addition, Teck agreed to buy 1 million shares of American Gem at $5 per share and, i…
Drills turning at Boleo project
Drilling on the Boleo copper-cobalt project in Mexico is under way, with International Curator Resources (TSE) reporting results from the first seven holes. The holes were drilled along a 2.4-km-long …
Spot prices at a glance (November 21, 1994)
Week’s Price (US) Change Gold* $385.50 + $1.15 Silver* $5.19 – $0.01 Platinum* $414.40 + $3.40 Nickel** $3.50 + $0.13 Lead** $0.31 + $0.01 Copper $1.30 + $0.07 Zinc $0.54 + $0.02 Courtesy of Scotiaban…
Gold Funds (November 21, 1994)
BGR Central Net Value $17.76 $6.58 Price $14.88 $6.875 Premium 4.5% Discount 16.26% Value $143,505,000 $124,432,688…
Nugget drilling Hill End project
Drilling is planned for early 1995 at the Hill End gold project in Australia, Nugget Resources (ASE) reports. The junior, which recently completed a $525,000 initial public financing to gain a listing…