William Resources warms up printing press
On July 30, debenture-holders of William Resources (WIM-T) will vote on whether or not to convert their notes into 245 million shares and thus assume 70% of the company’s resulting equity.The proposal…
1999
Newmont boosts output
Newmont Mining (NEM-N) has upped its production forecast at South America’s largest gold mine.The Denver-based company now estimates that the Yanacocha mine in northern Peru will produce 1.6 million o…
LME WHSE LEVELS (July 19, 1999)
Metal stocks (in tonnes) held in London Metal Exchange warehouses at July 13/99 (change from July 6 in brackets):MetalTonnes(tonnes)Change…
OBITUARY — Armand Beaudoin
Armand Beaudoin, who played a major role as a vendor in the Indonesian staking rush following the gold “discovery” of Bre-X Minerals in the mid-1990s, has died.His career as a prospector began in nort…
GREATEST VALUE TRADED, July 7-13, 1999
ExchgVal($000’s)HighLowCloseChangeAlcoa*N439481…
TSE INDICES (July 19, 1999)
1999Jul. 13Jul. 12Jul. 9Jul. 8Jul. 7HighLowCompos…
DIAMOND PAGE — Global sells first parcel
Global Diamond Resources (GDRS-O) has sold its first parcel of diamonds from test mining at the Grasdrif alluvial operation in South Africa.The California-based company received US$727 per carat for t…
PEOPLE — Mountain-West
Douglas Chan appointed director.
PEOPLE — Maximum Ventures
Douglas Brooks appointed director.
EDITORIAL & OPINION — COMMENTARY – Sales will harm African miners
Dear President Clinton,South Africa has inaugurated its second democratically elected president, Thabo Mbeki. Among the challenges he faces is the terrible shock tohis country’s economy caused by the …
MINING MARKETS & INVESTMENT NEWS — U.S. MARKETS — Slumping gold sinks producers
The Dow Jones industrial average posted a new high of 11,175.02 for the July 7-13 report period, with a modest climb of 39.9 points, or 0.4%.Gold companies edged downward as the price slumped to new l…
DIAMOND PAGE — Mountain Province buoyed by Kennady Lake results
A large-diameter reverse-circulation bulk drill sample collected this past winter from the 5034 pipe at Kennady Lake in the Northwest Territories has yielded positive results.Situated 120 km south of …