GUEST COLUMN (August 26, 1991)
With the proclamation of the 1989 Mining Amendment Act (MAA) on June 3, the mining industry is faced with the most significant amendments ever made to Ontario’s Mining Act. At the annual general meeti…
Articles by Northern Miner Staff
Temagami claims’ status uncertain following court decision
A 9,800-sq.-km area near Cobalt, Ont., may be reopened for staking if the Ontario government and Teme-Augama Anishnabai band agree to lift a 20-year-old land caution on the mineral-rich ground. Follow…
Alberta Stock Exchange (August 26, 1991)
North American Gold was the top trader on the Alberta Stock Exchange for the week ended Aug. 20 with 286,300 shares changing hands. It closed down 38 cents at $3.75, representing more than $1 million …
Westmin posts first-half loss despite lower operating costs
Despite reductions in operating costs, Westmin Resources (TSE) reported a net loss of $5.85 million in the 1991 second quarter after preferred dividends, and a net loss of $11.03 million in the 1991 f…
Canchrome boosts project tonnage
A new reserve figure has been calculated by Canchrome Mines (ME) for its Reed-Belanger chromite property 10 km south of Thetford Mines, Que. The new figure, 5.5 million tonnes grading 6.63% Cr2O3, is …
Unlisted trading
Reports from the bush don’t seem to have awakened the market from its summer lull. News about Wye Resources’ encounter of a mineralized zone on the Gorham property, five miles north of Thunder Bay, On…
Asamera’s second quarter shows sharp improvement
The latest results for gold and silver producer Asamera Minerals (TSE) show a turn for the better with net income of US$4.23 million for the 1991 second quarter ended June 30. This compares with a los…
Centurion acquires property
Utah-based Centurion Mines (NASDAQ) recently acquired a disseminated gold-copper project, 175 miles northwest of Spokane, Wash., and 30 miles south of the Canadian border. Partially tested by 118 dril…
Gibraltar reports earnings drop
A drop in the price of copper as well as lower investment income pushed earnings down for Gibraltar Mines (TSE) during the first half of 1991. The company reported earnings of $2 million on revenues o…
FINANCING (August 19, 1991)
Canarc Resource Corp. – 900,000 units (600,000 of which are guaranteed.) consisting of 1 sh and 1 wt offered @ $1.40 per unit. Butter Rock Resources Inc. – 600,000 shs offered @ 40 cents per sh. Galic…
GOLD FUNDS (August 19, 1991)
BGR Central Net Value $8.99 $5.02 Price $8.25 $4.700 Discount 8.19% 6.4% Value $53,503,370 $79,074,210…
Alberta Stock Exchange (August 19, 1991)
Active in the Kirkland Lake, Ont., and Matagami, Que., areas, Kingswood Explorations traded a hefty 814,400 shares for the week ended Aug. 13, slipping a penny to 20 cents. The company’s gold property…