Golden Giant strike cuts Hemlo’s earnings
A drop in gold production has contributed to a 38% shortfall in earnings for Hemlo Gold Mines (TSE).For the first six months of 1995, Hemlo earned $23.4 million (or 23 cents a share) on revenue of $10…
News
Greenland grants more mineral licences
Still more companies are flocking to the world’s largest island in search of Voisey Bay-type nickel-copper-cobalt deposits.The activity is due to the geological similarities between Labrador’s Nain ge…
Cyprus Amax suspends mining at Climax mine in Leadville
Inco Ltd T173433$47 1/444 1/445 7/8-1 3/8.TBarrick Gold T115839$37 1/834 5/834 5/8-2Placer Dome T106226$39 1/436 36 1/2-2 1/4Diamond Flds T65703$70 3/468 3/4 69 3/4-7/8Falco…
Line Creek coal mine will expand
The Line Creek coal mine has received approval from the British Columbia government to expand to Horseshoe Ridge. The mine is about 18 km northeast of Sparwood.Line Creek Resources has been producing …
NEWS ROUNDUP — St. Genevieve sells Novicourt interest
St. Genevieve Resources (TSE) has sold 2.2 million shares of Novicourt (TSE) for $5.25 per share.The transaction generated proceeds of $11.2 million and a profit of $6.1 million. The proceeds will be …
Index (July 24, 1995)
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NEWS IN BRIEF (July 24, 1995)
Welcome North Resources (WLN:VSE) has changed its name to Welcome Opportunities (WLO:VSE) on a 1-new-for-8-old-share basis.
PEOPLE — CELTIC MINERALS
Patrick Hannon, Wayne Ewert and David Graham appointed directors.
PEOPLE — METALLICA (July 24, 1995)
Louis Lepry appointed president and chief operating officer.
GOLD FUNDS (July 24, 1995)
Gold Funds as of July 18BGRCentralNet Value$18.41$6.67Price$14.25$6.50Discount22.60%2.5%Value$143,945,000$117,645,450…
Taseko retains investment banker
To advance the sale of its Fish Lake copper-gold project in British Columbia, Taseko Mines (VSE) has retained Toronto Dominion Securities as financial adviser and agent.Several international mining co…
New legislation improves mining incentives in Panama
New legislation aimed at harmonizing tax incentives is expected to benefit Panama’s nascent mining industry.The Universalization of Incentives Law, recently signed by President Ernesto Perez Balladare…