Matachewan awaits day in court
Matachewan Consolidated Mines (TSE) is looking forward to its day in court after the Ontario Ministry of the Environment laid criminal charges against the junior company and two of its officers. Crimi…
News
Proposals threaten uranium mines
New radiation exposure limits proposed by the Atomic Energy Control Board (AECB) threaten to close some of Canada’s existing underground uranium mines and prevent the development of new ones, says Tim…
Metall shuffles mining interests
German mining giant Metallgesellschaft AG recently announced a $195-million transaction designed to streamline its holdings in North America and Australia. Through its 59.3% owned Toronto subsidiary M…
Timmins Nickel mulling option on Redstone mine
Barring an unforeseen nickel rally, Timmins Nickel (TSE) will not exercise an option to purchase BHP-Utah’s 49% interest in the Redstone mine near Timmins, Ont. The owner of a 51% stake in Redstone, T…
Weak prices hurt Inco earnings
Lower third-quarter earnings reflect weaker nickel markets and increased unit production costs at its Canadian operations, Inco (TSE) said. The nickel giant recorded third-quarter earnings of US$4.5 m…
INSIDER TRADING (October 28, 1991)
Warren Armstrong, president of Quebec Sturgeon River Mines (TSE), recently reduced his holding in the 21.6% owned affiliate of Toronto-based Coniagas Mines (TSE). According to the Ontario Securities C…
Gold price hits US$360 on new estimates from Soviets
For the first time since mid-August, evidence that the Soviet Union is harboring much less gold than western analysts had been estimating has pushed the precious metal above US$360 per oz. Analysts ag…
Toronto Stock Exchange (October 28, 1991)
Gold lost none of its new-found glitter during the week ended Oct. 22, as analysts continued to assess the impact of new revelations about Soviet reserves on future supply. A feasibility study release…
Montreal Exchange (October 28, 1991)
A feasibility study released by Aur Resources and Societe Miniere Louvem for the Louvicourt copper-zinc-gold deposit northeast of Val d’Or., Que., recommends that initial mining commence in late 1993,…
Madeleine avoids injunction with promise to comply
Toronto-based Madeleine Mines (TSE) has agreed to prepare applications needed to obtain an operating permit for its Lac des Iles palladium/platinum project near Thunder Bay, Ont., within the next six …
Asbestos miner Cassiar bankrupt
Operating problems coupled with cost overruns have forced Princeton Mining (TSE) to seek court protection under the Companies’ Creditors Arrangement Act for its wholly owned subsidiary, Cassiar Mining…
Study dismisses link between uranium tailings and cancer
Residents of this small community in the heart of the Kawartha Lakes tourist region received some good news recently from the Ontario Ministry of Health. An investigation by the ministry into possible…