IOCC GOLD OPTIONS (May 06, 1991)
The New York closing gold price was $357.30 per oz. Last quotations for gold options traded in Montreal and Vancouver as provided at the close of trading each Tuesday by the Montreal Exchange. Total v…
Articles by Northern Miner Staff
PEOPLE CANNELLE EXPLORATIONS
Louis Duprat appointed president and director; Vern Langule appointed a director succeeding P. Cusano and J. McPherson who resigned.
Tintina, NSR plan joint work
An agreement to jointly explore property in English and Zavitz twps. in northeastern Ontario has been negotiated by Tintina Mines (TSE) and NSR Resources (TSE). Tintina optioned the property — compr…
Calgary to host conference
Calgary has been selected as the site for next year’s Second International Conference on Environmental Issues and Management of Waste in Energy and Mineral Production. A “call for papers” was recentl…
Amax earnings down 36%
General recessionary pressures including lower prices for aluminum, gold and oil resulted in a 36% drop in first quarter earnings for Amax Inc. (NYSE). The New York company recorded net earnings of U…
Minnova rethinks strategy after Samatosum
The original investments Minnova (TSE) made in the Winston Lake and Ansil mines have been paid off, and the company is in the enviable position of having a substantial cash balance, shareholders learn…
Underground nixed at Big Bell
The companies involved in the Big Bell open pit mine in Western Australia recently announced that proposed development of an underground mine on the property will not proceed. The mine is owned by jo…
Noranda offers Hemlo all its gold properties
Noranda (TSE) has offered to sell all of its gold assets worldwide to Hemlo Gold (TSE) for $80 million. If the deal goes through, it would boost Hemlo’s reserves of proven and possible contained gold …
Magnesium plant to be shut down
The new magnesium plant built near High River, Alta., will close following a decision by a partner not to continue funding the operation. The production facility was built by the Magnesium Company of…
Judith Gold to merge with Crown
Through a merger proposal with Judith Gold Mines, Crown Resources (VSE) expects to add over 2,000 oz. gold production per year. Crown is proposing a share exchange on a 1-for-25 basis which would resu…
TORONTO STOCK EXCHANGE INDICES (May 06, 1991)
Apr. 30 Apr. 29 Apr. 26 Apr. 25 Apr. 24 HIGH LOW Composite”300″3468.81 3472.23 3497.22 3502.00 3504.10 4009.47 3009.91 Metals & Minerals 3095.41 3089.44 3134.90 3158.36 3201.71 3453.06 2502.63 …
Mining escapes NDP budget, but interest rate fears grow
The mining sector escaped relatively unscathed recently from an Ontario New Democratic Party budget that will drive the provincial deficit up to $9.7 billion in fiscal 1991-92. In a bid to bolster rev…