New offering planned by Barrick
A public offering worth $113 million is planned by American Barrick Resources (TSE). The offering of four million common shares was announced on a “bought basis” at $28.25 per share. The shares will b…
Articles by Northern Miner Staff
Lower grade cuts output, boosts costs for Echo Bay
A combination of lower ore grades and weaker gold prices slashed Echo Bay Mines’ (TSE) third-quarter earnings in half, from US$5.1 million (5 per share) in 1990 to US$2.3 million (2 per share). At 50%…
NEWS ROUNDUP (November 18, 1991)
An agreement has been entered into by Globex Mining Enterprises (ME) and Fairfield Explorations (ME) whereby Noranda Exploration, a unit of Noranda (TSE), may earn a 60% interest in their claim blocks…
TORONTO STOCK EXCHANGE INDICES (November 18, 1991)
Nov 12 Nov 11 Nov 8 Nov 7 Nov 6 High Low Composite “300” 3604.09 3579.30 3561.56 3546.70 3531.08 4009.47 3009.91 Metals & Minerals 3119.54 3077.99 3060.64 3036.52 3033.96 3453.06 2502.63 Intergrated M…
Bridger seeks damages from Teck
An action for damages was recently filed by Bridger Resources (VSE) against Teck (TSE) in the Supreme Court of British Columbia relating to the La Pepa gold mine project in Chile. Bridger held a 68% i…
Princeton losses on the rise
Revenues for the 1991 third quarter ended Sept. 30, were down sharply for Princeton Mining (TSE), falling to $12.5 million from $33.6 million in the third quarter of 1990. The drop is primarily the re…
Hall of Fame ponders list of 16 nominees for 8 openings
Departing from its previous procedure, The Canadian Mining Hall of Fame has announced the names of all nominees for induction. Of the 16 names put forward, eight successful candidates will be announce…
Robex, Bateman in option deal
An option to earn a 25% interest in property in Roy and Mckenzie twps. in the Chibougamau area of Quebec has been acquired by Ressources Robex (ME) from Bateman Bay Mining (ME). To earn its interest, …
Royal Oak stakes at Shining Tree
Royal Oak Mines (TSE) has staked 123 claims in the Shining Tree area of northeastern Ontario following Fort Knox Gold Resources’ (TSE) discovery of ore-grade nickel and copper mineralization on its pr…
Pre-concentration method could reduce Sikaman costs
A 3-year extension was recently given to Sikaman Gold (TSE) on its option to bring the Snow Lake tailings project into production after tests showed that an alternative pre-concentration method could …
Unlisted Trading (November 18, 1991)
The results of a bulk-sampling program on Swansea Gold Mines placer property near Wisdom, Mont., indicate that the gold-bearing material has an average recovery of 0.055 oz. gold per cu. yd. The resul…
Cambior reports higher gold output
Higher output was reported by Cambior (TSE) for the third quarter of 1991 but net earnings decreased. The gold producer attributed the earnings dip to a large drop in the net selling price for gold du…