Trail smelter operation adds to Cominco losses
All mining operations of Cominco (TSE) were profitable in 1992 with the exception of the Trail smelter, which lost $53 million, and the Sullivan mine which lost $19 million. As a result, Cominco repor…
News
Chile’s Codelco looks north for exploration partners
A new law passed by the Chilean government has paved the way for Canadian mining companies to participate in exploration joint ventures with Codelco, Chile’s largest company. For the first time since …
Mining at Casa Berardi Est to resume in July, says TVX
The Casa Berardi Est gold mine in northwestern Quebec is expected to be back in operation by mid-July, TVX Gold (TSE) President Martin Robinson said at the company’s annual meeting in Toronto. Operati…
Shaft being deepened at Joe Mann
Deepening the No. 2 shaft at the Joe Mann gold-copper mine of Campbell Resources (TSE) southwest of Chibougamau, Que., to 2,700 ft. is under way. The shaft excavation and related work is expected to b…
NEWS IN BRIEF (May 25, 1992)
Beretta Resource Corp. (BTR:VSE) has changed its name to Optimark Data Systems Inc. with a consolidation of capital on a 1-new-for-1-old-share basis. The transfer agent is Montreal Trust.
GOLD FUNDS (May 25, 1992)
BGR Central Net Value $7.88 $5.07 Price $6.25 $4.60 Discount 20.73% 9.3% Value $46,939,000 $77,391,780…
Kingswood returns to Matheson area (May 25, 1992)
Kingswood Explorations (ASE) has resumed drilling on its 24-claim property near Matheson, Ont. The spring program will include definition drilling on the Thunder zone, which returned a 57.7-ft. interv…
PEOPLE (May 25, 1992)
Bhupinder Herar appointed director.
Northern Crown looks to Mexico (May 25, 1992)
Gold and copper oxide targets are being actively sought by Northern Crown Mines (VSE) in Mexico, which the company believes is largely unexplored by modern techniques. At its Anita property in souther…
Cheni negotiates debt conversion (May 25, 1992)
To clean up its balance sheet, Cheni Gold Mines (TSE) recently reached an agreement with its major creditors for a conversion of most of its outstanding debt to equity. The company’s parent, Cheni S.A…
Latest results confirm chance of boosting Izok Lake tonnage (May 25, 1992)
Recent drilling at Izok Lake, 130 km north of Yellowknife, N.W.T., makes the copper-zinc deposit “on the borderline” of being economically viable, says Minnova (TSE) President David Watkins. About 8,0…
Canmine’s challenge for Westray fund (May 25, 1992)
Mining and exploration companies are being challenged by Canmine Resources to match a $100 donation by the junior to the Westray Mine Disaster Fund. “Profits and incomes derived from the business of m…