On the Level (November 18, 1991)
“Thought you might be interested in this,” writes my sister from Thunder Bay, Ont., enclosing a copy of North Magazine, a weekly Lakehead publication. Indeed I was, for the cover story is the rags-to-…
Articles by Northern Miner Staff
McDonald boosts Noramco stake
A recent rights offering generated proceeds of $682,583 for Noramco Mining (TSE) to be used for general operating and corporate purposes. A total of 2.27 million units were subscribed for, which inclu…
Minnova’s cost control effort pays off with better earnings
Toronto-based Minnova’s (TSE) concerted effort to compensate for lower metal prices and higher smelting charges by keeping operating costs down has clearly been successful. While revenues in the three…
Galleon explores copper-zinc project
The first stage of an exploration program by Galleon Gold (VSE) is now under way on the Big Andy copper-zinc project at the head of Bute Inlet, 135 miles northwest of Vancouver. The program follows an…
GOLD FUNDS (November 18, 1991)
BGR Central Net Value $8.16 $4.90 Price $7.38 $4.400 Discount 9.63% 10.2% Value $48,588,838 $74,026,920…
Study aims to clarify cyanide use
Canada’s 54 primary gold producers use about 23,000 tons of cyanide a year. There is emphasis on the word “about” as selling the chemical is a highly competitive business and suppliers are loathe to d…
TRUE GRIT: Skiers delay garnet mine startup
If all goes according to plan, Polestar Exploration (VSE) and Hawkeye Developments (VSE) expect to have Canada’s only garnet mining and processing facility in production by the fourth quarter of 1992….
Montreal Exchange (November 18, 1991)
Benefiting from a buying mood by investors, the ME recorded a 43.4-point gain in its market portfolio and a 54.6-point gain in its mining and minerals index during the week ended Nov. 12. Daily tradin…
Willingdon and Sandy K negotiate merger terms
Willingdon Resources (CDN) has reached an agreement in principle to merge with Sandy K mines, a private company. Sandy K’s main asset is a high-grade silver and cobalt property in the Gowganda area of…
Low costs at Golden Giant
The low-cost Golden Giant mine of Hemlo Gold Mines (TSE) on the north shore of Lake Superior continues to perform well. The company reports third-quarter gold output of 118,110 oz. (about the same as …
U.S. REPORT (November 18, 1991)
After 22 years of operation, Phelps Dodge (NYSE) will be closing its Tyrone mine concentrator in New Mexico. Sulphide ore reserves are expected to be exhausted by the end of 1991 but mining of low-gra…
Remedial work
A $30,000 provincial grant has been awarded to the Township of Coleman in northern Ontario to undertake remedial work on the former Silver Queen mine site, the Ontario Ministry of Northern Development…