Inco reports hefty loss
A dismal performance from the company’s primary metals business led to a US$5.8-million loss for Inco (TSE) in the fourth quarter of 1991, compared with earnings of US$72.6 million for the same period…
Articles by Northern Miner Staff
Deak enters pair of ventures
Two joint ventures were recently entered into by Deak Resources (TSE), one with Kennecott Canada and the other with Outokumpu Mines of Toronto. The Kennecott deal covers contiguous properties (one own…
Unlisted Trading — Mountain Beaver busy
Drilling at a massive sulphide deposit near Amos, Que., generated much investor interest in Mountain Beaver Resources. The company’s stock was in a low-high range of 40-62 cents and 212,850 shares cha…
Big loss for Timmins Nickel
Poor recoveries and lower nickel prices battered Timmins Nickel (TSE) during the second quarter ended Nov. 30, leaving the company with a quarterly net loss of $2.73 million (15 cents per share). Sinc…
Second Inco rig at Fawcett Twp.
Operator Inco (TSE) has moved a second rig on to Fort Knox Gold Resources (TSE) base metal prospect in Fawcett Twp., near Shining Tree, Ont. At the same time, core from hole SG-10, recently completed …
Greater Lenora retains Goldfields play
The inability of RJK Mineral (ASE) to meet an option payment due Dec. 31, 1991, means associated company Greater Lenora Resources (TSE) will retain a 100% interest in the Goldfields gold project in no…
Former gold producer — Miramar aims to reopen Flowery
Management of Miramar Mining (TSE) hopes to bring the Flowery gold mine back into full-scale production. The former producer is in Storey Cty., Nev., about 10 miles east of the famous Comstock Lode. T…
Key-Rio deal
Subject to regulatory approval, Key Anacon Mines (TSE) says it has entered into an option agreement with Rio Algom Exploration, a unit of Rio Algom (TSE), whereby Rio may earn a 60% interest in Key’s …
Dome Mountain nearing capacity
Development work and mining at the Dome Mountain underground gold mine near Smithers, B.C., is continuing as Timmins Nickel (TSE) brings the property up to operating capacity. Timmins is earning a 60%…
Missouri division may not survive
A move to save money may mean the end of Missouri’s Division of Geology and Land Survey. The budget chairman of the House of Representatives, Chris Kelly, wants to make the move because to him the div…
De Beers opening Moscow office
A Moscow office will be opened by De Beers Centenary, the diamond company said. In 1990, De Beers signed an agreement with Rossalmazzoloto, the deal including a 5-year sales contract and a US$1-billio…
Underground work boosts tonnage at Sterling mine
Recent underground development by Cathedral Gold (TSE) at its 52% owned Sterling mine increased tonnage such that the current reserve is the largest in the mine’s history. Located near Beatty, Nev., t…