News in Brief (May 29, 1989)
Goldenbell Resources has amalgamated with ABM Gold Corp. under the latter name. Goldenbell shareholders will receive one class A common share of ABM for each three old shares held. ABM Gold is a U.S. …
Articles by Northern Miner Staff
Galactic restates 1988 earnings
U.S. gold producer Galactic Resources (TSE) has restated its 1988 consolidated financial statements in order to incorporate a more conservative accounting of cash and properties acquired last summer f…
Boulder Gold plans to open U.S.’s only ferrochrome mine
A feasibility study completed by Australian company Boulder Gold N.L. for the Mountain View chromite property, suggests the project could become the first ferrochrome producer in the U.S. Located in …
McCoy/Cove production growing for Echo Bay
First quarter gold production rose by 12% for Echo Bay Mines (TSE) thanks largely to a major expansion program under way at the company’s McCoy/Cove mine in Nevada. Echo Bay’s total quarterly gold pro…
Belmoral looks for turnaround
The chairman of Belmoral Mines (TSE) is the first to admit 1988 was not a memorable year for his company. Kenneth Dalton, addressing shareholders at the annual meeting, said, “most of our projects hav…
Ventex options claims near Lac St. Jean
Timmins-based Ventex Energy Ltd. (VSE) has acquired the right to earn a 25% interest in 247 claims in the Lac St. Jean area of Quebec. The vendor, 133872 Canada Inc., is a private company controlled b…
Brenda to close Peachland mine by end of 1990
Reserves at Brenda Mines (TSE) near Peachland, B.C. will be exhausted next year, ending one of the great success stories in Canadian mining history. The porphyry copper deposit is among the lowest gra…
Queen’s studies ways to guage productivity
Ontario metal miners will benefit from a research program at Queen’s University in Kingston that is studying new ways to measure mining productivity. Industry-wide results traditionally have been used…
Alberta Stock Exchange Volumes remain low
Investors stayed away in droves this week as the price of gold fell to a 3-year low of $359(US) per oz. As a result, placer gold explorer Integrated Resources of Edmonton, was the session’s biggest tr…
With Hees group in control Westfield plans to be busy
With a new controlling shareholder in command and a number of projects under way in Chile, Great Britain and North America, Westfield Minerals (TSE) will have its hands full for the remainder of 1989….
Coral Gold Corp now listed on TSE
Vancouver-based Coral Gold Corp. (TSE) became listed on the Toronto Stock Exchange May 3, issuing 10.5 million common shares. A further 304,000 shares have been reserved. Coral is also listed on the V…
NovaGold to sell projects
NovaGold Resources (TSE) has signed an agreement with Orex Explorations (ME) to sell its interest in the Goldenville and Cochrane Hill gold projects in Nova Scotia. Orex has the right to buy a 70% int…