Spot prices at a glance (May 20, 1996)
Wednesday, May 15, 1996Week’s Price (US)ChangeGold*$391.85-$1.80Silver*$ 5.40-$0.08Platinum*$402.25-$4.00Nickel**$ 3.64-$0.17Lead**$ 0.38-0.01Copper$ 1.24-$0.05Zinc$ 0.47-$0…
1996
Gold intersected at Golden Hill project in Cuba
The latest drilling at the Golden Hill project in Cuba has yielded impressive results.Hole GH-71, drilled vertically on the Little Golden Hill zone, intersected 27.25 metres of near-surface oxide mate…
EDITORIAL PAGE — Mining Week celebrates Canadian accomplishment
One of the goals of Canada’s National Mining Week is to communicate the importance of the industry to people who rarely think about how metals and minerals affect their daily lives.Until recently, thi…
Roper, Silver Peak plan Abbott work
Additional development work at the Abbott project, 65 miles north of Trail, B.C., will begin in June.Roper Resources (VSE) can earn a half interest in the property from Silver Peak Resources (VSE) by …
Lyon Lake works toward startup at Beta Vargas
The first company to get a production permit from the Costa Rican government in 11 years is Montreal-listed Lyon Lake Mines, which can now develop its Beta Vargas gold project.Beta Vargas, 150 km west…
TSE Short Positions (May 20, 1996)
Short positions outstanding at April 30, 1996Larger individual positions included: Abacan 181,400; Barrick Gold 9,515,380; Agnico-Eagle 433,993; Algoma Steel 232,623; Asia Pacific 108,200; Arequipa Re…
Goldcorp extends high-grade zones at Red Lake
Ongoing exploration by Goldcorp (TSE) continues to expand high-grade gold zones at the Red Lake mine in western Ontario.Results from 33 holes show that nine have values greater than 0.97 oz. gold per …
PRODUCER PRICES (May 20, 1996)
ALUMINIUM: MW U.S. market US75.5-76.5 cents per lb. (May 3, 1996).ANTIMONY: MW New York dealer US$1.80-$1.90 per lb. (April 26, 1996).BISMUTH: MW New York dealer US$3.80-3.95 per lb. (April 26, 1996)….
Bre-X shareholders approve poison pill
Shareholders of Bre-X Minerals (TSE) recently approved a shareholders’ rights plan, a stock split and a resolution to spin out the Sangihe and Sable properties in Indonesia.Shareholders approved the r…
Sunshine firms up Argentine deposit
Drilling and sampling have expanded the estimated resource of the Pirquitas silver-tin deposit in northern Argentina.Sunshine Mining & Refining (NYSE) reports that the deposit contains 47.5 million to…
Phelps Dodge strong despite price slump
Despite a drop in the price of copper, Phelps Dodge (NYSE) was able to post strong earnings for the first quarter.The company earned US$153.1 million (or US$2.26 per share) for the first quarter, comp…
Earnings dip for Cyprus Amax
Low copper and molybdenum prices, combined with bad weather at its U.S.coal projects, caused Cyprus Amax Minerals (NYSE) to earn fewer profits in the recent first quarter than in the same period last …