FINANCING (May 15, 1989)
VANCOUVER Fairbanks Gold — gross proceeds rec $5,700,000. Benz Gold Res — opt exerc on 47,500 @ 55 cents per sh. Stow Res — opt exerc on 150,000 @ 45 cents per sh. Fair Harbour Mining — min 800,…
News
Cambior earnings (May 15, 1989)
Net earnings for the first quarter increased by 32%, to $4.8 million (20 cents per share) from $3.6 million (15 cents per share) the year before, Cambior Inc. (TSE) reports. Revenue for the quarter …
Metal Prices FUTURES PRICES (May 15, 1989)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) May127.00 124.90 125.60 — 5.65 Jun124.30 123.50 123.70 — 8.00 Jul123.40 120.40 12…
IOCC GOLD OPTIONS (May 15, 1989)
Options Open Series Volume Last Interest May 380 C . 284 2.30 347 May 390 C . 434 1.00 1,740 May 400 C . 650 0.50 3,2…
Kerr ups Minnova stake
Kerr Addison Mines (TSE) has been given the go ahead by regulatory authorities to purchase an additional 400,000 shares of Minnova (TSE). The purchase will maintain Kerr’s interest in Minnova above 50…
Arctic Gold drill results
Arctic Gold and Platinum has completed a 12-hole, 5,700-ft diamond drill program on its property at Big Athapapuskow Lake near Flin Flon, Man. The samples have been sent for assaying. Arctic is a priv…
Radisson to buy Duquesne
Radisson Mining Resources (ME) has purchased 1.4 million shares of Duquesne Gold Mines, a private company. Duquesne holds a 75% interest in the Duquesne gold property in Quebec. Radisson must pay $4.2…
Metrologist seeking assistance for book on precious metal ores
Author Jan Merks is seeking help from mining companies for a new book on the science of metrology — the study of weights and measures. He is looking for information, which will be kept confidential, …
Asarco earns $68.6 million (US) in first quarter
A partnership is being formed by Montana Resources and Asarco Inc. to own the former’s Montana copper-mining business. Asarco will purchase a 49.9% interest in the partnership, with Montana Resource…
Barrick could be bidder in future Newmont auction
Nothing if not ambitious, American Barrick Resources (TSE) is closely monitoring a takeover battle involving two of the world’s largest gold producers. If, as seems likely, Minerals and Resources Corp…
Equity Silver looks for new reserves
Having achieved its primary objective of efficient, low cost production at its silver/copper/gold mine near Houston, B.C., Equity Silver Mines (TSE) is turning its attention to the search for future o…
Earnings Report (May 15, 1989)
Net first-quarter earnings for LAC Minerals (TSE) were $7.1 million or 8 cents per share. Last year, first- quarter earnings were $8 million or 9 cents per share. Revenue was $42.4 million compared …