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/…
1998
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 …
MOST ACTIVE ISSUES, May 20-26
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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…
Lew drill holes return mixed results
Two follow-up drill holes by Thunderwood Resources (THS-T) and Consolidated Abitibi Resources (CAQ-M) at their Lew polymetallic property in the Flin Flon-Snow Lake volcanic belt in Manitoba have retur…
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…
Pan American finds silver lining
Having recently acquired the past-producing La Colorada silver operation in Mexico’s Zacatecas state and a 70% interest in the world-class Dukat silver deposit in Russia’s Far East, Pan American Silve…
CORRECTION (June 01, 1998)
Contrary to information that appeared in our May 25-31 issue, the Indonesian state-owned mining company Aneka Tambang does not hold an interest in the Jampang gold project of Mispec Resources (MPE-M)….
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 …
MINING MARKETS & INVESTMENT NEWS – EASTERN MARKETS — TSE coasts as metal miners fall on weakened prices
The Toronto Stock Exchange 300 index lost 36.42 points over the May 20-26 report period, finishing the week at 7,625.96.The big news of the period was gold’s plunge to US$292.60 per oz. on the morning…
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…
New association to fight for land rights
Beginning with land-use planning in Ontario and then reaching out across the continent, the fledgling North American Mining Association (NAMA) has set out to co-ordinate the advocacy efforts of all se…