Deak eases towns” fear of the future
The fear of becoming a mining ghost town has been put to rest in the northern Ontario communities of Virginiatown and Larder Lake. A recent deal between Deak Resources (TSE) and creditors of bankrupt …
Articles by Northern Miner Staff
Revenue Canada’s treatment of farm-ins not about to change
In the latter part of 1989, some uncertainty arose about the status of Revenue Canada’s treatment of farm-ins, evidently because a district taxation office in Western Canada veered somewhat from its t…
Aur to pick up 47% interest in Belmoral Mines
Aur Resources (TSE) has agreed to lend its considerable geological expertise and some financial help to Belmoral Mines (TSE) in return for the option to purchase a 47% stake in the company. The propos…
LAC closes office
LAC Minerals (TSE) will close its exploration office in Kirkland Lake, Ont., on April 15, affecting 12 employees. At least four of them will be offered relocation within the company. LAC’s operations …
Queenston expects royalties from Kirkland Lake to increase
Queenston Mining (TSE) is anticipates rising royalty revenues from its Kirkland Lake properties adjoining the Macassa mine on the west where LAC Minerals (TSE) is stepping up deep exploration and deve…
Metals Week’s conference
Metals Week’s annual ferroalloys conference will be held in Tucson, Ariz., Oct. 25-26. Speakers will review the new harsh realities of the metals market. Contact Maryann Whalen, Metals Week, 42/F, 122…
Higher costs, lower output hurt HudBay
A combination of higher unit costs, employee bonuses and lower than expected copper production added up to a drop in fourth-quarter profits for Hudson Bay Mining & Smelting (TSE) and quarterly loss fo…
Results fall short of expectations, Aur says deposit not `pinched
High-grade intersections that fuelled the rapid rise in the price of Aur Resources (TSE) and Societe Miniere Louvem (TSE) shares in mid-1989 failed to materialize among the latest batch of Louvicourt …
Improving maintenance costs could save industry billions
Reducing the cost of maintaining underground mining equipment could save the mining industry billions of dollars a year, says Dr. W.R (Bob) Dengler, who heads a prominent mine contracting company. Den…
Toronto Stock Exchange Panic in Japan fails to ruffle Toronto
Canada’s largest stock market continues to weather the storm that is blowing across the Tokyo Stock Exchange. While Japanese investors watched in horror as the Nikkei index fell by 1,569 points — the…
Balance sheet improves in ’89 for Giant Yellowknife Mines
Earnings of $3.6 million (43cents per share), before unusual items, on revenue of $119.5 million were reported by Giant Yellowknife Mines (TSE) for 1989. After providing $3.8 million for an unusual af…
Gold, oil interests pay off at Horsham
Investments in gold and oil production appear to have paid off handsomely for Toronto-based Horsham (TSE). Horsham, which controls American Barrick Resources (TSE), says net earnings in 1989 increased…