EDITORIAL Exploration gets cut first
Near the bottom of every business cycle major mining companies suddenly realize they’re going to lose money unless metal prices go up or operating costs go down. They can’t control metal prices, but t…
News
Pezim’s penalty: Will the VSE be able to survive?
The British Columbia Securities Commission (BCSC) is keeping the industry guessing as to what penalties, if any, will be handed out to Vancouver promoter Murray Pezim and two of his associates. Analys…
Euro-Nevada adds to royalty portfolio
Toronto-based royalty company Euro-Nevada Mining (TSE) recently added royalty interests in two U.S. projects to its growing portfolio. Euro-Nevada has agreed to acquire from Centurion Gold (NASDAQ) su…
Westmin slips into the red
Results took a turn for the worse for Westmin Resources (TSE) with the company reporting a loss of $3.2 million for the third quarter ended Sept. 30. This compares to earnings of $1.1 million in the t…
Downturn, soft prices take toll on exploration budgets, staff
Caught in a cycle that repeats itself every few years, dozens of industry geologists — victims of yet another downturn in exploration spending — are packing up their hammers and compasses. Although …
Kingswood drilling (November 26, 1990)
A 3,000-ft. drilling program is under way on the Bourlamaque Twp., Que., base metal property of Noranda (TSE) and Kingswood Explorations (ASE). The latter company is earning a 50% interest in the 18-c…
Alberta Stock Exchange Kingswood up 7 cents
With the price of gold remaining at a lacklustre US$377 per oz. in the report period ended Nov. 20, a handful of junior base metal stocks showed the only signs of life in a quiet market. For example, …
Spot prices at a glance (November 26, 1990)
Week’s Price (US) Change Gold* $377.35 — $6.10 Silver* $4.11 — $0.09 Platinum*$413.85 — $2.75 Nickel** $3.96 — $0.07 Lead** $0.31 — $0.02 Copper- $1.18 — $0.00 Zinc $0.58 — $0.00 Courtesy of Sc…
U.S. REPORT Santa Fe plans corporate split
The railway parent of Santa Fe Pacific Minerals is spinning off its oil and gas and real estate assets into public companies but has no plans at the moment to take the mining company public. Santa Fe …
EDITORIAL Bigger is cheaper
The most significant technological factor affecting our production during the 1980s was size of equipment. Bigger is better, and cheaper. . . . We now use bigger trucks — 150 tons versus the 50- and …
Chile’s Escondida set to produce
About eight months ahead of schedule and under budget, the huge Escondida copper mine in northern Chile is scheduled to enter production in December. Output of refined copper in 1991 is expected to to…
Environmental `Bill of rights’ a dangerous precedent
The Northwest Territories has become the first jurisdiction in Canada to have an “Environmental Bill of Rights.” While superficially attractive as a way of protecting the environment, the environmenta…