Tulsequh drilling results batter Redfern
Recent drilling results from the Tulsequah Chief project in northwestern British Columbia helped initiate a free fall in the share price of Redfern Resources (TSE). The junior has earned a 40% interes…
News
Vancouver Stock Exchange No end in sight to market slide
The Vancouver market renewed its slide over the period ended October 30, with the Composite Index shedding almost 17 points to finish at 524.46 while the Resource Index followed suit for a 28-point lo…
U.S. REPORT Explorers shun recent sale of Minnesota mineral leases
Minnesota has been left out in the cold as exploration gears up in the Rhinelander-Ladysmith greenstone belt of neighboring Wisconsin. Although Minnesota put thousands of mineral leases up for sale du…
Low potash prices hurt Potash Corp.
Low potash prices continue to take their toll on on Potash Corp. of Saskatchewan (TSE) whose annual potash output represents about 15% of the world’s total production capacity. For the three months en…
Strike hurts third quarter at Brunswick
An ongoing strike at the Brunswick lead-zinc mine near Bathurst, N.B., has led to another disappointing third quarter for Brunswick Mining and Smelting (TSE). Brunswick reported a net income of $181,0…
High interest rates take toll on Noranda’s profit
Stung by high interest rates, Noranda (TSE) saw its third- quarter net income plunge to $18 million (1 cents per share), down from $101 million (49 cents per share) in the year-earlier period. The 82%…
Producer Barrick is well hedged
Growing gold producer American Barrick Resources (TSE) has more than 3.4 million oz. hedged through gold loans, forward sales, options and spot deferreds. Greg Wilkins, chief financial officer, recent…
Hemlo mines’ profit improves but Teck’s earnings decline
Increased gold production from two Ontario gold mines enabled Teck (TSE) to report a new record in operating profit from mining activities during its third quarter ended Sept. 30. Operating profit fro…
Rochester deals South Mercur
Several months after acquiring the South Mercur gold property from Dominion Mining and Ennex International, Rochester Minerals (VSE) has negotiated an agreement with Kennecott Corp. The deal gives Ken…
Seven Mile High rejects Hamelin offer
Shareholders of Seven Mile High Group (VSE) rejected an unusual offer by former president Maurice Hamelin to drop his $1.3 million lawsuit against the company on the condition they elect a board of di…
Zone 97 drilling excites VSM, Serem
Two drills are working at zone 97 of the Grevet zinc project southeast of Matagami, Que., where VSM Exploration and its project partner, French-controlled Serem Quebec, are hoping to add significantly…
Internal responsibility
If you have been rubbing elbows recently with your counterparts in the mining industry, you may have heard the buzz term “IRS” being bandied about. No, they haven’t run afoul of the U.S. Internal Reve…