Rea reports mixed results
Although a loss was reported for the year ended Dec. 31, Rea Gold (TSE) reached profitability in the first quarter of 1990. The company reported a loss of $2 million or $0.16 per share for the year en…
Articles by Northern Miner Staff
PEOPLE (May 14, 1990)
OREGON RESOURCES — Douglas Good appointed president succeeding Frank Baumann who has resigned; Bernard Poznanski appointed director succeeding James McDougall who has resigned.
Low base metal prices hurt Hudson Bay Mining
Hudson Bay Mining and Smelting has become yet another victim of lower base metal prices in the first quarter of 1990. Despite an increase in nickel, copper and zinc production, Hudson Bay’s first- qua…
Collapse of Echo Bay deal has Flanagan group scrambling
A cloud has been cast over the Toronto-based Flanagan McAdam group of gold mining companies following the recent collapse of a property-share swap agreement with Echo Bay Mines (TSE). The surprise dec…
Breakwater acquires two new properties
By spending $1 million on exploration over the next 10 years, Breakwater Resources (TSE) has the option to earn a 70% interest in 35 claims within the Blake River group of volcanic rocks that host the…
Spot prices at a glance (May 14, 1990)
Week’s Price (US) Change Gold* $369.70 — $0.80 Silver* $5.00 + $0.00 Platinum* $476.25 — $0.50 Nickel** $4.04 — $0.27 Lead** $0.37 + $0.01 Copper- $1.31 + $0.04 Zinc– $0.84 + $0.05 Courtesy of Sco…
Granges granted security for costs in Abermin lawsuit
The Supreme Court of British Columbia has ruled in favor of Granges (TSE) and others in their bid to have Abermin (TSE) post security for costs in the ongoing litigation over the Tartan Lake gold mine…
Horsham earnings drop in quarter
Horsham (TSE), which controls gold producer American Barrick Resources (TSE), reported sharply reduced earnings during the first three months of 1990. First-quarter earnings before extraordinary items…
Workers on strike at South Porcupine mine
Close to 600 production and maintenance workers at the Dome mine of Placer Dome (TSE) in South Porcupine went on strike May 7. The members of local 7580 of the United Steelworkers of America voted 52….
Small Belgium a major metals player
The go-ahead Kingdom of Belgium, known to us mainly for the terrible battles of Waterloo and Ypres and of “the Bulge,” or for the Flemish masters — Rubens, van Dyck, Breughel, Memlinc and van Eyck –…
Cal Graphite split
Cal Graphite (VSE), operator of a graphite mine in the startup phase north of Huntsville, Ont., is proposing a 3-for-2 share split. Shareholders will vote on the proposed split June 12 in Vancouver. T…
Redstone acquiring royalty
Redstone Resources (TSE), an affiliate of royalty specialist Franco- Nevada Mining (TSE), recently agreed to acquire a 2% gross royalty interest in the Midwest uranium deposit in Saskatchewan for $3 m…