Asamera Minerals shows profit
The new mining arm of Asamera Inc., Asamera Minerals reports net profits from the start of operations on July 1 to Sept 30, of $1.1 million(US) on revenues of $6 million. Pro-forma results (which assu…
Articles by Northern Miner Staff
Editorial RATS, no firm commitment
There are an estimated 11,000 hectares of mine tailings in Canada, many leaking acidic water into the environment. The industry spends millions monitoring this very serious environmental problem and t…
COATS Trading Features (December 21, 1987)
Several new issues on the coats lists appear to be bucking the current downtrend. Strike Minerals, which was underwritten at 30 cents last month, was trading on good volume at 60 cents – 70 cents tod…
Magnacon reveals surprises for Flanagan and partners
The Magnacon gold project near Wawa in northeastern Ontario continues to surprise, the vice- president of Flanagan McAdam Resources said at the company’s annual meeting. J. T. Flanagan, who is also pr…
Cassiar seeks govt help to develop McDame deposit
British Columbia’s asbestos producer, Cassiar Mining Corp., has decided to proceed with a $38.8-million development of its McDame deposit located near Cassiar, but is seeking government help to financ…
Sandhurst closes deal to buy Queenstake block
An Australian placer gold mining concern, Sandhurst Mining has closed earlier plans to acquire approximately 20% each in two Vancouver-based companies, Queenstake Resources and Canadian United Mineral…
Eureka extends zone
A reverse circulation drill program completed by Eureka Resources has confirmed the extension of the Jay zone over a strike length of 750 m. The property is located near Williams Lake, B.C. Over the s…
Inco spending $51 million on Coleman mine
The old Coleman mine on the north rim of the Sudbury Basin, which was shut down in 1982, will get a new lease on life. Inco Ltd. announced this week it plans to spend $51 million to access the lower p…
McAdam boosts gold reserves at Spud Valley
Reserves in all categories have risen to 247,078 tons at an average grade of 0.41 oz gold per ton at the Spud Valley property on Vancouver Island, McAdam Resources reports. Proven and probable reserve…
News in Brief (December 21, 1987)
Carben Energy has changed its name to American Medical Technologies Inc. (amo:vse) on a share- for-share basis.
Metal Prices FUTURES PRICES N.Y. Commodity Exchange Week’s High
.00 — 7.50 ** May 715.00 684.00 686.90 — 7.30 ** ** GOLD (in US$ per oz.) ** ** Dec 494.20 480.00 482.70 — 0.08 ** ** Feb 499…
Homestead drilling early next year
Drilling is slated for early 1988 on Homestead Resources’ newly acquired Legacy gold prospect in the Rice Lake belt of Manitoba. Geological mapping, line cutting and geophysical work is being carried …