NEWS ROUNDUP (November 04, 1991)
Onitap Resources (TSE) says Exploration Orex (ME) defaulted on its July 1, $25,000 instalment payment for the purchase of the Goldboro deposit in Nova Scotia and has failed to make any subsequent mont…
Articles by Northern Miner Staff
Denison sells Sicily oil interest
Toronto-based Denison Mines (TSE) recently agreed to sell its 10% interest in the Vega oilfield offshore Sicily to an unnamed buyer who will assume $29.2 million in debt. As a result, Petromarine Ital…
Sudbury hosts royal visit
The mining town of Sudbury recently welcomed the Prince and Princess of Wales, who visited the northern Ontario community as part of a 6-day provincial tour. In honor of the visit, nickel producer Inc…
Teck options Montgay project
A letter of intent has been signed by Ressources William (ME) with Teck Exploration, a unit of Teck (TSE), which will permit Teck Exploration to earn a 51% interest in the 38-claim Montgay property ab…
Preliminary estimate boosts reserves at South Kemess
A recent preliminary reserve estimate has almost doubled reserves on the South Kemess property in north-central British Columbia to 140 million tons grading 0.23% copper and 0.017 oz. gold per ton. Th…
Cheni reports more losses
A drop in grades, coupled with lower gold and silver prices, helped push Cheni Gold Mines (TSE) into the red with a loss of $3.7 million or 33 cents per share for the nine months ended Sept. 30. The l…
METAL PRICES (November 04, 1991)
ALUMINUM: MW U.S. market US51-55 cents per lb. (Oct. 17, 1991). ANTIMONY: New York dealer US82-84 cents per lb. (Aug. 8, 1991). BISMUTH: New York dealer US$3.10-3.20 per lb. (Sep. 26, 1991). CADMIUM: …
Aur, Louvem prepare for challenge of funding
By completing a feasibility study on their Louvicourt Twp. property, Aur Resources (TSE) and Societe Miniere Louvem (TSE) have done the easy part in their bid to bring the project into production, ana…
U.S. REPORT (November 04, 1991)
Earnings for the first nine months of 1991 remained unchanged from a year earlier for Pegasus Gold (TSE) which reports net income of US$6.3 million for both periods. Earnings for the 1991 third quarte…
Cutbacks planned by Falconbridge
In response to continuing weakness in the nickel market, Falconbridge said it is extending the shutdown of one of two electric furnaces at its Dominican Republic ferronickel operation until at least t…
Drilling continues at Trout Lake mine
Exploration drilling at the Trout Lake polymetallic mine near Flin Flon, Man., continues to confirm the presence of several individual lenses below the 560-metre level. Most of the summer work, 7,775 …
Orient, Gold Hawk deal with Soquem
An agreement, subject to regulatory approval, has been reached by Orient Resources (ME) and Consolidated Gold Hawk Resources (ASE) with Quebec Crown mining exploration company Soquem, which will allow…