Rayrock Yellowknife looking good for `89
With a large and diversified exploration portfolio, a bulging treasury ($47.5 million cash), with production, revenues and profits all on an upswing, this should be an exciting year for Rayrock Yellow…
News
People (May 08, 1989)
RIO ALGOM — R. W. Ballmer appointed vice-chairman and chief executive officer; C. A. Macaulay, director.
Base metals boost American Pacific
The latest financial results from American Pacific Mining (VSE) show sales of $16 million(US) and profits of $6.5 million after tax for the final quarter of its fiscal year ended Feb 28, 1989. The com…
Royal Gold enters California venture
Denver-based Royal Gold (NASDAQ) has entered into a joint venture agreement with Standard Industrial Minerals of Sparks, Nev., for development of Standard’s Long Valley gold property in California. Th…
Books Geochemistry
A new book entitled Geochemical Detection of Volcanogenic Massive Sulphides in Humid-Temperate Terrain was published recently by J. S. Cummings. The text reflects more than 30 years experience in mine…
Cassiar looks to exceptional year
With copper and asbestos prices at their highest levels in years, 1989 could well be another exceptional year for Cassiar Mining (TSE). Indeed, first-quarter earnings of $7.4 million or 40 cents per s…
Sikaman exploring Nevada claims
Options to retain a 100% interest in 125 claims in the Gilbert mining district of Nevada have been acquired by Sikaman Gold Resources (TSE). The claims are situated 20 miles north of Tonopah and were …
Fortune Minerals to explore NWT claims
Three mineral properties in the Northwest Territories will be explored this summer by a new company called Fortune Minerals (COATS). The junior explorer recently completed an initial public offering a…
Letters to the Editor Falconbridge offer “too low”: Raglan investor
Your reporting of Mr. Pugsley’s statement on New Quebec Raglan (N.M., April 10/89) was negative, probably truthful, yet poorly timed since it was just one week before Falconbridge made its offer to ac…
Budget blues for miners
The huge tax bite in last week’s federal budget has a bright side for the exploration industry, according to analysts at Clarkson Gordon, a Toronto chartered accountant firm. Investors may look to flo…
Toronto Stock Exchange Gold shares dive as bullion hits three-year
A stronger U.S. dollar and mounting signs that inflation is not about to take off, combined to clobber gold to a three year low of $376.50. Today’s London fix managed a small gain to $378.60. The gloo…
Record first quarter for American Barrick
Thanks to a lucrative hedging program and expanded gold production at seven North American mines, American Barrick Resources (TSE) achieved record earnings and cash flow during the first quarter of 19…