GOLD FUNDS (May 26, 1997)
Gold Funds as of May 15, 1997BGRCentralNet Value$21.33$5.94Price$16.75$5.
1997
LME WAREHOUSE LEVELS (May 26, 1997)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at May 19/97 (change from previous week in brackets):Aluminium761,950(-7,475)Copper141,100(-8,200)Lead118,100(+1,400)Nickel50,6…
Corriente perseveres in South America
Junior Corriente Resources (CTQ-T) is disappointed by initial results from a 5,000-Metre drill program on the Chama gold project in southern Peru.The first four holes were drilled to investigate the b…
Kabila wants miners with heart — Mining companies offered joint-Venture opportunities
This once-beautiful city in the heart of the Central African copper belt provided an appropriate setting for rebel leader Laurent Kabila to invite foreign mining companies to help rebuild the economy …
First Dynasty buys into Armenian projects
Singapore-based First Dynasty Mines (FDM-T) and New York-based Global Gold have inked a deal that will see the former earn up to a half interest in three advance-staged gold projects in Armenia.First …
Orion drills in Argentina
Drilling is being accelerated at the Agua Rica porphyrycopper-gold-silver-Molybdenum deposit in the northwestern Argentine province of Catamarca.Northern Orion Explorations (NNO-T) reports that three …
Cambior exercises option at La Granja — Reports $3.1-Million profit for first quarter
Montreal-based Cambior (CBJ-T) is exercising its option to acquire the Peruvian copper deposit known as La Granja.In accordance with the 1994 option agreement with state-owned Minera Peru, Cambior has…
Nelson eyes suspended gold mine
In its first venture outside the Commonwealth of Independent States, Nelson Gold (NLG-T) is looking to acquire a majority interest in the suspended Kalana gold mine in Mali, West Africa.Nelson recentl…
Wheaton to resume mining at Golden Bear — Hedging program clears a path
The completion of a hedging program has paved the way for Wheaton River Minerals (WRM-T) to blast the first round in the pit at the Golden Bear gold mine, in northwestern British Columbia.The junior, …
Gold price weakens performance of Royal Oak
Royal Oak Mines (RYO-T) reported a first-quarter loss of $8.1 million, compared with earnings of $1.4 million for the same period last year.Gold production for the first three months of the year total…
MSV options Corner Bay project
Montreal-based MSV Resources (MSV-T) is entering into an option agreement with Toronto-based Sikaman Gold Resources (SKG-T) for a 50% interest in MSV’s Corner Bay copper project, situated 56 km south …
Drilling extends Toms zone
A drill program by Tri Origin Exploration (TOE-T) has doubled the length of mineralization associated with the Toms zone on the Lewis Ponds property in New South Wales, Australia.The company says hole…