LAC back in the black
A cleaner balance sheet, a strong hedging program and increased gold production pushed LAC Minerals (TSE) well into the black in 1991. For the year ended Dec. 31, 1991, LAC recorded earnings of US$15 …
Articles by Northern Miner Staff
Melinga tests Honduran project
A first-phase induced polarization survey was recently completed by Melinga Resources (VSE) on the Macuelizo concession in northwest Honduras. The company reports that several prospective gold-copper …
Agnico’s Joutel mines to close
Unless exploration yields a big discovery around Agnico-Eagle Mines’ (TSE) Joutel Division north of Val d’Or, Que., the aging Eagle and Telbel gold mines are likely to close by April, says President P…
Alberta Stock Exchange — Kingswood active
Active Kingswood Explorations 1985 has started up a drilling program on its 60-claim gold property at Eastmain, Que., where surface work indicated a number of anomalies. The company, whose stock slipp…
Taking lessons from Mount Milligan
Placer Dome’s $266-million writedown of its Mount Milligan project in British Columbia was unequivocal acknowledgment that it had made a mistake. The company simply paid too much for a project that di…
Landowners attack, close mine
In an attack reminiscent of the still unresolved 3-year-old Bougainville copper mine conflict, disgruntled Papua New Guinea (PNG) landowners have brought the operations of another mine site in the Sou…
Vancouver Stock Exchange — Placer news has ripple effect
Although the perception of local market direction appeared decidedly positive during the recent Cordilleran Roundup in Vancouver, the resource index managed to slip below the 500 level, off by 12.6 po…
Montreal Exchange — Aurizon benefiting
Volumes remained buoyant but the market portfolio and mining and minerals index went in opposite directions during the week ended Feb. 4, the former closing up by 7.8 points and the latter slipping by…
New property royalty for Euro
Toronto-based Euro-Nevada Mining (TSE) has acquired a 4% net smelter return on about 27,000 acres of the Alligator Ridge gold trend in Nevada. The company said it paid US$3 million. A portion of the A…
Spot prices at a glance (February 10, 1992)
Price (US) Week’s Change Gold* $354.95 – $0.45 Silver* $ 4.17 + $0.01 Platinum* $358.25 + $11.75 Nickel** $ 3.47 – $0.01 Lead** $ 0.23 $0.00 Copper $ 0.98 – $0.01 Zinc $ 0.52 – $0.01 Courtesy of Scoti…
Spirit tests gold zones at depth
A 7,500-10,000-ft. drill program is under way on Spirit Lake Explorations’ (ME) Edwards gold property northeast of Wawa, Ont., in preparation for underground bulk sampling. The program, designed to te…
Westmin’s drilling extends Battle zone
A fifth intersection of Battle zone mineralization was intersected by Westmin Resources (TSE) during an ongoing drill program at the company’s Myra Falls mine property near Campbell River, B.C. The mo…