Union sees Westray reopening
A spokesman for the union representing miners at the Westray coal mine in Nova Scotia says the mine could reopen. “I am sure there is a need for this type of low sulphur coal and we are taking the vie…
News
Editorial Page (June 08, 1992)
Pity the officers and directors of Consolidated Professor Mines. Their efforts since 1973 to make a mine in northwestern Ontario came tantalizingly close to fruition in 1989 but since then have been t…
Drilling tests Vaughan gold project
Assay results are now being reported from a diamond drill program on the Vaughan project where Avondale Resources (VSE) and Candela Resources (VSE) are each earning a 25% interest from associated comp…
INSIDER TRADING (June 08, 1992)
The president of Aur Resources (TSE), Jim Gill, recently moved into the market to buy up a block of shares just above the 52-week low of $1.93. According to the Ontario Securities Commission OSC Bulle…
New Canamin options Kennecott ground
A recently completed agreement gives New Canamin Resources (VSE) the right to acquire a 100% interest in the Huckleberry and Whiting Creek copper deposits owned by Kennecott. The two deposits are abou…
Northgate selling shares in MSV
An approximate 33% ownership interest in MSV Resources (ME) is being sold by Northgate Exploration (TSE) in a deal which subsequently involves directly and indirectly several junior companies. Nova-Co…
METALS MARKETS (June 08, 1992)
Base metal markets are exhibiting signs that the long downturn may be nearing an end. Scrap generation is low and any pickup in demand must draw on relatively small inventories in producers’ hands and…
Asarco poised for metal price upswing
Commenting on the 1991 performance of Asarco (NYSE) at a recent meeting of the Toronto Society of Financial Analysts (TSFA), Chairman Richard de J. Osborne said it was “not a great earnings year.” Asa…
Cameco president presents positive long-term view
Producer Cameco (TSE) of Saskatoon remained profitable in 1991 despite low uranium prices. Earnings were $1.03 per share compared with $2.21 in 1990. Despite a lacklustre year, President Bernard Miche…
Bulk sample at Raglan (June 08, 1992)
Activity at the Raglan nickel-copper property in northern Quebec increased dramatically with the decision by Falconbridge last year to proceed with $35 million in advanced exploration and development …
Preferred shareholders halt Eastmaque, Equinox merger
A proposed merger between Equinox Resources (TSE) and Eastmaque Gold Mines (TSE) hit a regulatory snag when the British Columbia Supreme Court recently declined to approve the combination. The two com…
Placer Dome’s Pipeline find subject of Gold Fields’ lawsuit
A unit of Placer Dome (TSE) is continuing work on the Pipeline gold deposit in Nevada although Gold Fields Mining recently launched a lawsuit seeking the return of claims believed to contain about 45%…