NEWS ROUNDUP (February 17, 1992)
P.T. Inco, Inco’s (TSE) Indonesian division, produced a record amount of nickel in matte during 1991 75.9 million lb. compared with 59.6 million lb. in 1990. But despite the production increase, P.T. …
Articles by Northern Miner Staff
Metal output value falls 17%
The total value of mineral production in Canada in 1991 decreased by 14.6%, or about $6 billion, from the 1990 level, Energy, Mines and Resources Canada (EMR) reports. EMR said this decline was mainly…
Uncertain fate awaits Paymaster
The Paymaster gold project at Timmins, Ont., faces an uncertain future now that Placer Dome (TSE) has decided to take a $31-million writedown on the value of its interest in the property. Although Pla…
Business as usual for Princeton
Management of Princeton Mining (TSE) recently stated that the appointment of a receiver for its wholly owned subsidiary, Cassiar Mining, will not affect its other business activities. The British Colu…
INSIDER TRADING (February 17, 1992)
William Dickie, a director of Toronto-based Goldhunter Explorations (ASE), was active in the stock market recently. According to the Ontario Securities Commission OSC Bulletin, Dickie bought 130,000 s…
Glamis on track to reach targets
With gold production of over 35,000 oz. for the first six months of fiscal 1992, Glamis Gold (TSE) is well on the way to meeting output projections of 75,000 oz. for its 1992 fiscal year. Second-quart…
Holloway land resolution this spring
Negotiations to create a single mine property at the Holloway gold project east of Matheson, Ont., should be completed within the next couple of months, says Ian Bayer, president of Hemlo Gold Mines (…
PRODUCER PRICES (February 17, 1992)
ALUMINUM: MW U.S. market US57.00-58.25 cents per lb. (Jan. 30, 1992). ANTIMONY: New York dealer US82-84 cents per lb. (Aug. 8, 1991). BISMUTH: New York dealer US$2.90-3.10 per lb. (Jan. 23, 1992). CAD…
Slipping Sleeper lowers Amax Gold’s ’91 earnings
Net earnings for the year ended Dec. 31, 1991, slipped about 25% for miner Amax Gold (NYSE). The company reports net earnings of US$21.2 million, or 35 cents per share, compared with earnings of US$28…
Bitterroot in option deal with LAC for Giant Copper
The Giant Copper property owned 100% by LAC Minerals (TSE) was recently optioned to Bitterroot Resources (VSE) under a sale-option agreement. The property is north of Lillooet in south-central British…
New Kelore, Pan Orvana set to merge
Shareholders of New Kelore Mines (TSE) and private Vancouver company Pan Orvana Resources were recently told to expect a “more vibrant future” after voting almost unanimously in favor of a merger prop…
Placer, Newhawk, Granduc divide Sulphurets property
The Sulphurets property in northwestern British Columbia has been divided into three parts as a result of the closing of recent agreements among Newhawk Gold Mines (TSE), Placer Dome (TSE) and Granduc…