Magma Copper third quarter earnings
Magma Copper reports a third quarter 1988 net income of $12.3 million (U.S.), or 32 per common share. This compares to a net loss of $5.1 million for the third quarter of 1987. Total revenue for the …
News
Newmont Gold has record production
A $420 million(US) expansion program at its Carlin, Nev., operations is paying off for Newmont Mining’s 90% owned subsidiary Newmont Gold. Net income for the first nine months of 1988 increased to $7…
Shareholders infuriated over Pomac amalgamation
Two weeks after being grilled by several holders of Acadia Mineral Ventures (TSE) stock at that company’s annual meeting (N.M., Oct 24/88), President Donald Smith was back in the hot seat — this time…
Calpine plans to drill deeper at Eskay Creek
A diamond drill with greater depth capacity is being moved into the Eskay Creek project of Calpine Resources (VSE) and Consolidated Stikine Silver (VSE) 60 air miles north of Stewart, B.C. A satellite…
Euro-Nevada adds Hemlo area royalty to its portfolio
Toronto-based Euro-Nevada Mining (TSE) has acquired a 2 % net smelter royalty on a Hemlo, Ont., property which may host deep extensions of two of Canada’s biggest gold mines. Owned by a Calgary compan…
Reserves Calculated for Willa Project
A $1-million exploration program was recently completed on the Willa property in southwestern British Columbia by operator, Northair Mines (TSE). The company now has a 77% interest in the gold project…
Tenajon seeks to buy Esso’s interest in SB
Surface diamond drilling on the SB property near Stewart, B.C. intersected a new zone parallel to the Main zone where operator Tenajon Resources (VSE) has been encountering impressive values in both p…
COATS trading features (November 14, 1988)
A cease trade order was issued by the OSC this week against Carolin Mines for failure to file financial statements. Carolin closed in the 60 to 70 range when trading was stopped. The company has been…
Sikaman to acquire Snow Lake tailings deposit
Toronto-based Sikaman Gold Resources (TSE) says it has entered into agreements which would give it the right to treat a gold tailings deposit at Snow Lake, Man. The tailings deposit, owned by Nor-Acme…
Fire at Belmoral mine destroys change room
Mining crews at the Ferderber mine of Belmoral Mines (TSE) at Val d’Or, Que., missed a shift recently following a fire which destroyed the mine change facilities and assay office. No injuries were rep…
Newmont declares quarterly dividend
The board of directors of Denver- based Newmont Mining recently declared a regular quarterly dividend of 15 per share of common stock, payable Dec 9 to shareholders of record at the close of business…
Agnico-Eagle to sell real estate holdings
A lucrative offer for Agnico-Eagle Mines’ (TSE) Ontario real estate holdings has proved too good to refuse. Agnico-Eagle says it will sell the holdings which include a parcel of industrial land in Sca…