Plexus reports quarterly loss
Gold producer Plexus Resources (TSE) reported a net loss of US$506,000 in the 1991 first quarter because of adverse weather conditions and the installation of a new conveyor at the joint venture Dento…
Articles by Northern Miner Staff
Crude will take Eagle River to production `with or without’ Hemlo
The Eagle River gold deposit in the Mishibishu Lake area of northern Ontario will enter production “with or without” the help of 60% owner Hemlo Gold Mines (TSE), says Richard Nemis, president of Cent…
Correction (May 20, 1991)
Contrary to what was reported in The Northern Miner (May 6/91), Deak Resources director Douglas Hume recently bought 9,000 shares for 54 cents to hold 147,500.
NEWS IN BRIEF (May 20, 1991)
Storimin Exploration (ASE) said it is planning surface work, and possibly a drilling program, this summer at its recently acquired base metal property in Robertson Twp. in northeastern Ontario, adjace…
FINANCING (May 20, 1991)
Goodgold Resources Ltd. — 1,000,000 units consisting of 1 sh and 2 wts offered @ 40 cents per unit. International Impala Resources Ltd. — 650,000 non-flow through units consisting of 1 non-flow th…
Timmins Nickel, Dumont in deal
An agreement has been entered into by Timmins Nickel (TSE) and Dumont Nickel (ME) whereby Timmins will spend up to $5 million to acquire a majority interest in, and act as operator of, the Dumont nick…
Additional funding for Armeno project
Additional funding in the amount of US$1.45 million will be provided by Nissho Iwai Corp. of Japan to go toward the preproduction development costs and working capital of the San Bartolome mine projec…
U.S. REPORT Ridgeway produces 30% less
Gold production at the Ridgeway open pit mine in South Carolina fell by about 30% to 30,843 oz. during the 1991 first quarter from production levels a year earlier. Galactic Resources (TSE), which ho…
PEOPLE CARPENTER LAKE RESOURCES (May 20, 1991)
Frank Callaghan appointed president; Bruce Elner and Michael Scott appointed directors succeeding Peter Yearwood, Kenneth Sumanik and Maro MacKinnin-Andrew who resigned.
Lawyers pushes Cheni into red
First-quarter earnings for Cheni Gold Mines (TSE) took a turn for the worse this year with the company reporting a net loss of $1.5 million on revenues of $5.2 million. The company reported a cash fl…
EDITORIAL PAGE Good news, bad news
The good news is that the federal government and the Saskatchewan government have agreed on a method to streamline the environmental assessment process for uranium mines. In the world of environmenta…
IOCC GOLD OPTIONS (May 20, 1991)
Options Open Series Volume Last Interest May 370 P 10 12.00 10 The New York closing gold price was $359.90 per oz. Last quotations for gold optio…