Gold Funds (July 29, 1991)
BGR Central Net Value $9.63 $5.37 Price $8.38 $5.000 Discount 13.02% 6.9% Value $57,329,720 $84,121,500…
Articles by Northern Miner Staff
U.S. REPORT (July 29, 1991)
Acting upon the advice of its financial advisers, Fairbanks Gold (VSE) has entered exclusive negotiations with an unnamed major mining company for the purchase of all Fairbanks’ issued shares. Fairban…
Lower grades slow Inco’s earnings
An 85% drop in second-quarter earnings for nickel giant Inco (TSE) reflects predictions the company made at an analysts’ meeting last November. “They warned us,” says Richardson Greenshield’s Ray Gold…
Toronto Stock Exchange (July 29, 1991)
After switching into high gear, the summer doldrums were interrupted during the week ended July 23 by the first trickle of second-quarter earnings. Despite earlier warnings by management, the market w…
LETTERS TO THE EDITOR (July 29, 1991)
As argued by Mort Brown (T.N.M., July 15/91), democracy certainly needs to be redefined. I think wistfully of the days when politicians were concerned about people and not their own pockets. There hav…
Placer Dome relocates offices for exploration
During the next 6-9 months, Placer Dome (TSE) plans to expand its international exploration presence and re-allocate resources in Canada. New exploration offices will be opened at Coral Gables outside…
METAL PRICES (July 29, 1991)
London Metal Exhange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date July 23 July 22 July 19 July 18 July 17 Copper 1316-1318 1321-1323 1315-1317 1329-133…
OBITUARY Walter Waterston
A news man who devoted his entire life to that profession, including a 10-year stint with The Northern Miner, Walter (Walt) Waterston died recently at his home in Unionville, Ont., where he had lived …
Costs for Canadian Producers COSTS EDGING UP TABLE
Company Cash Costs Total Costs Gold Price Pretax (incl deprec) Received Earnings Margin (US$/oz.) (US$/oz.) (US$/oz.) (US$/oz.) Hemlo Gold 144 248 390 + 142 Corona 215 330 385 + 55 Placer Dome 251 333…
Abandoned mines focus of program
A $10-million abandoned mines program is being set up by the Ontario government. The money for the Abandoned Mine Hazards Abatement Program was allocated in the recent budget brought down by the New D…
PEOPLE ESKAY GOLD
Kevin Nephin appointed president and director; Kenneth Shannon and John Millette appointed directors.
U.S. REPORT NEWS IN BRIEF Hecla, CoCa complete merger
The previously announced merger between Hecla Mining (NYSE) and CoCa Mines (NASDAQ) is now complete following the approval of the two company’s shareholders. Each common share of CoCa common stock is …