GOLD FUNDS (June 01, 1998)
Gold Funds as of May 21, 1998BGRCentralNet Value$15.58$5.95Price$11.85$5.
1998
NEW HORIZONS — Gold and medical research
The ability of gold atoms to stick together even when beaten into gossamer-thin layers has been known since ancient Egyptian times. Now, researchers have produced an even thinner layer of gold — no t…
LETTER TO THE EDITOR — Planning for Canada’s mining future
We appreciate your compliments in a recent editorial (“Congratulations, CIM,” T.N.M., May 4-10/98). In our centennial year, the Canadian Institute of Mining, Metallurgy and Petroleum (CIM) is indeed p…
MINING MARKETS & INVESTMENT NEWS — QUERY — Casmyn digs itself into a deep hole
I am a shareholder of Casmyn, a company traded on the Nasdaq Bulletin Board. The shares of the stock went from around US$4 to a few cents in a couple of months. The company issued a statement in Febru…
MINING MARKETS & INVESTMENT NEWS — U.S. MARKETS –Dow and gold slide in tandem
The Dow Jones Industrial average continued its slow slide, finishing the May 20-26 report period down 90.92 points (1%) at 8,963.73. Trading was light because of the Memorial Day holiday May 25.All ma…
METAL FUTURES (June 01, 1998)
Settlement prices for London Metal Exchange spot metal and three-month contracts, May 26/98 (US$ per tonne):MetalsCash PriceThree Month Price…
PRODUCER & DEALER PRICES (June 01, 1998)
Aluminium: LME settlements US$1,340, alloy US$1,259 per tonne (May 26/98).Antimony: Representative mid-market US$1,490 per tonne (May 26/98).Bismuth: Representative mid-market US$3.75 per lb. (May 26/…
Diamonds recovered from Tuzo — Summer program planned for neighboring Doyle Lake project
The Tuzo kimberlite pipe on the AK property in the Northwest Territories has returned positive mini-bulk sampling results.De Beers Consolidated Mines (DBRS-Q) subsidiary Monopros recovered 108 carats …
Mineral Resources revs up Cassiar asbestos plant
After a 6-year production hiatus, the Cassiar asbestos project in British Columbia is ready to begin producing chrysotile fibres once again.Operator Mineral Resources (MIC-T), which holds a 100% inter…
FINANCINGS — New Claymore funds Buffalo Hills exploration
New Claymore Resources (NCS-V) has agreed to a brokered private placement of up to 1 million units at $1.60 each, for gross proceeds of up to $1.6 million.Each unit will consist of one common share an…
Rayrock Yellowknife wraps up takeover of Minera Rayrock
Rayrock Yellowknife Resources (RAY-T) has succeeded in its bid to take over affiliate Minera Rayrock (MRN-T).Rayrock, a Toronto-based gold and copper producer, had held a 37.5% interest (19.1 million …
William Resources sinks deeper into red
Despite having boosted overall gold production in 1997, William Resources (WIM-T) ended up deeper in the red.The mid-tier gold producer lost $77.5 million (or $1.58 per share) on revenue of $94 millio…