GOLD FUNDS (October 19, 1998)
Gold Funds as of October 8, 1998BGRCentralNet Value$14.606.25Price$11.80$…
1998
LME WHSE LEVELS (October 19, 1998)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at Oct. 13/98 (change from Oct. 6 in brackets):MetalStocks (tonnes)Change…
MINING MARKETS & INVESTMENT NEWS — EASTERN MARKETS — Gold rally takes a breather as base metal miners gain ground
The shine was off the precious metals this past week, with gold dropping $2.25 to US$296.60 per oz., platinum slumping $5.50 to US$340.50 per oz., palladium slipping $5 to US$276 per oz. and silver sl…
Strike disrupts production at Cayeli copper mine
Production at the Cayeli copper-zinc mine in Turkey has been suspended as a result of a miners’ strike.Inmet Mining (IMN-T), which owns a 49% equity interest in the mine’s owner, Cayeli Bakir Isletmel…
Jiawula drilling off to good start for Naneco
Drilling at the Jiawula polymetallic deposit in the Inner Mongolia region of China continues to confirm mineralization in the advanced No. 2 vein.Junior Naneco Minerals (NNE-A) is targeting the zone i…
Atna drops Palmer base metal project
Atna Resources (ATN-T) has elected to back away from the Palmer base metal project in southeastern Alaska.The project was a joint venture with Rubicon Minerals (RMX-V). The two companies recently comp…
INDUSTRIAL MINERALS — Robex sells Upton barite deposit
East Coast drilling improves economics of eastern Quebec project Ten years of exploration at the Upton barite deposit near Montreal, Que., are beginning to bear fruit for owner Robex Resources (RBX-T)…
New nickel showing at Powderhorn Lake
Road construction for logging has enabled a prospecting syndicate to locate a showing of copper-nickel-cobalt mineralization in Newfoundland’s Central Mineral Belt.The showing, at Powderhorn Lake, abo…
INDUSTRIAL MINERALS — Freeport Sulphur merger going ahead
In a weak market for both sulphur and hydrocarbons, Freeport Sulphur (FSC-N) has fashioned a merger with its oil-producer cousin, McMoRan Oil and Gas.The historic sulphur company, the original develop…
Kennecott drilling confirms Legend kimberlite
Kennecott Canada has confirmed that the Phoenix discovery on the Legend property in northeastern Alberta is indeed kimberlite.Kennecott, a division of London-based Rio Tinto (RTP-N), made the find whi…
PEOPLE — SouthernEra
Patrick Evans appointed director, A.L. Barker appointed senior VP, Kim Freeman appointed VP of operations, and Frank van de Water appointed VP of finance.
Teck, Western Copper discover high-grade silver in Mexico
A potential silver mine has been discovered at the El Salvador project in Mexico’s Zacatecas state.A single, vertical diamond drill hole intersected a near-surface 32.6 metres averaging 230.2 grams si…