Metal Prices (September 26, 1988)
FREE MARKET London Metal Exchange Spot closing prices in Pound Sterling per tonne, except zinc and nickel ($US per tonne) Date Sept 20 Sept 19 Sept 16 Sept 15 Sept 14 Copper 1475…
1988
Fischer-Watt drills Delamar property
A 5,000-ft exploratory drilling program has been completed by Fischer-Watt Gold Company on its Delamar property in Lincoln Cty., Nev. The company controls 144 claims in the district with six identifie…
Base-metal discoveries needed now: ministry
The search for new mineral deposits in Canada in recent years has favored gold to the exclusion of base metals, say a couple of officials with Energy, Mines and Resources Canada who think the “period …
Montreal Exchange Douay results pleasing
A falling gold price (near US$400 per oz at this afternoon’s London fix) might turn off some investors, but in Montreal this past week metals issues showed a small gain — the mining and minerals inde…
First gold bar for Bond Int’s
The first gold bar has been poured from the Golden Patricia gold mine owned by Bond Gold Canada, a wholly-owned affiliate of Bond International Gold (NYSE). Located west of Pickle Lake, Ont., the mine…
Galactic earnings drop
A delay in the start of the 1988 mining season and debenture issue costs totalling $1.932 million(US) led to a seasonal second quarter loss of $4.348 million for Galactic Resources (TSE), up considera…
Editorial One of those Years
It’s been one of those years. Two steps forward and one step back. Nothing’s come easily. It’s been tough. With 1987 ending on a sour enough note, 1988 started as a struggle to claw back from the Oc…
Aur takes calculated gamble on Brazilian diamond deposit
Just weeks away from becoming a Canadian gold producer, Aur Resources (TSE) is taking a calculated gamble on a Brazilian diamond property which it hasn’t seen yet. The Toronto company has signed a let…
Aur to hang onto its cash despite $8 million gold loan
In a bid to keep its healthy balance sheet intact, Toronto-based Aur Resources (TSE) has made arrangements with The Chase Manhattan Bank of Canada for an $8 million gold loan. The company is attemptin…
Cash-strapped Abermin sells Lara property to its partner
Strapped for cash because of problems at its Tartan Lake gold mine in Manitoba (N.M., Sept 5/88), Abermin Corp. (TSE) has been forced to sell one of its key mineral properties, the Lara project on Van…
Cominco Debt Trimmed
During the first half of 1988, Cominco Ltd. (TSE) earned $78.5 million (91 cents a share) before including an extraordinary gain of $1.7 million, as compared with a profit of $25.9 million (24 cents …
MVP buying shares in NovaGold Res.
Recently subscribing for $500,000 worth of common shares of NovaGold Resources (TSE) was MVP Capital (TSE), a resource sector investment company based in Toronto. Purchase of the shares is subject to …