Noranda posts large loss
Excess worldwide production capacity and lower prices for its resource products forced Noranda (TSE) to report a loss of $133 million ($1.04 a share) in 1991, compared with earnings of $120 million in…
News
Penna fined on trading charge
The chairman and president of Agnico-Eagle Mines (TSE), Paul Penna, was fined $5,000 in Ontario Provincial Court after he pleaded guilty to a charge of trading in securities with knowledge of material…
Inco contributing shares to pensions
Subject to regulatory approval, Inco (TSE) says it will contribute almost 1.5 million newly issued common shares, valued at market, to certain of its North American defined benefit pension plans. The …
Alberta Stock Exchange (February 24, 1992)
Trading 345,000, Trump Reserve Minerals gained 3 cents to 98 cents as Hemlo Gold moved two drills on to the Quill Lake gold property in northwestern Ontario during the week ended Feb. 18. Trump and Go…
Insider Trading (February 24, 1992)
Roy Shipes, chairman of emerging U.S. copper producer Arimetco International (TSE), recently sold a big block of stock at a significant discount to the recent market price. According to the Ontario Se…
LETTERS TO THE EDITOR (February 24, 1992)
Your front-page story (T.N.M., Feb. 10/92), especially the reference to the Prospectors and Developers Association of Canada (PDAC) endorsing the continued role of Shelley Martel as Ontario’s minister…
Dickenson close to decision on using bioleaching
Is Dickenson Mines (TSE) poised to become the operator of the first commercial-size bioleach operation in North America? President Robert McEwen is making no public commitment, but the company did go …
Falco’s Collahuasi rivals Escondida as top copper find
Recent surface and underground exploration on Falconbridge’s Collahuasi project in northern Chile has uncovered a copper reserve that could rival Escondida, one of the largest copper deposits in the w…
NEWS ROUNDUP (February 24, 1992)
The deepest hole yet drilled on Glencairn Explorations’ (ASE) Goodfish property near Kirkland Lake, Ont., has encountered 25 ft. of gold-bearing mineralization. The mineralized zone, which was logged …
Vancouver Stock Exchange (February 24, 1992)
Although the VSE’s composite index managed a gain of 11.25 points to finish at 665.05 for the week ended Feb. 18, the resource index remained virtually unchanged at the 523-point level. A lack of furt…
EDITORIAL PAGE (February 24, 1992)
The controversy over Ontario mines minister Shelley Martel, regardless of its final outcome, reflects how far the province’s mining industry has passed into decline. An all-party legislative committee…
Montreal Exchange (February 24, 1992)
Drill results from a program at the Granada property near Rouyn-Noranda, Que., gave project partners KWG Resources and SEG Exploration a lift during the week ended Feb. 18. The exploration program is …