Editorial One of those Years
It’s been one of those years. Two steps forward and one step back. Nothing’s come easily. It’s been tough. With 1987 ending on a sour enough note, 1988 started as a struggle to claw back from the Oc…
News
Aur takes calculated gamble on Brazilian diamond deposit
Just weeks away from becoming a Canadian gold producer, Aur Resources (TSE) is taking a calculated gamble on a Brazilian diamond property which it hasn’t seen yet. The Toronto company has signed a let…
Aur to hang onto its cash despite $8 million gold loan
In a bid to keep its healthy balance sheet intact, Toronto-based Aur Resources (TSE) has made arrangements with The Chase Manhattan Bank of Canada for an $8 million gold loan. The company is attemptin…
Teck to mine Comet-Davenport
Teck Corp. (TSE) plans to mine the Comet- Davenport property near its Afton copper mine at Kamloops, B.C. Three Vancouver-listed companies: Comet Industries, Davenport Industries and Initial Develope…
Huntington drilling yields gold values at Brett project
Four more holes have been reported by Huntington Resources (VSE) from its Brett property near Vernon, B.C., the subject of an option agreement with Corona Corp. (TSE). All of the holes returned encour…
Ennex still needs permits at Scotland-based gold bet
Encouraging results have been reported from a number of international exploration projects held by Ennex International. A loss of $341,000 or 41 cents per share was recorded by Ennex during the six m…
Minister for mines dropped in cabinet shuffle
For the first time since 1980, Canada is without a federal minister of state for mines. The change, part of Prime Minister Brian Mulroney’s recent cabinet shuffle, has so far drawn mixed reactions fro…
Financing (September 26, 1988)
ONTARIO Alterio — final rec iss offer min 625,000 & max 1,250,000 @ 80 cents per unit to net min $465,000 & max $930,000. VANCOUVER Camas — gross proceeds rec $200,000. Gold Torch — gross proceeds…
Galactic earnings drop
A delay in the start of the 1988 mining season and debenture issue costs totalling $1.932 million(US) led to a seasonal second quarter loss of $4.348 million for Galactic Resources (TSE), up considera…
Books Register gets bigger
The book which has gained the high reputation over the past few years as a wealth of resource information, has just been published in its updated version. Register of Australian Mining (1988/89) by Ro…
Spot prices at a glance (September 15, 1988)
Week’s Price (US) Change Gold (per oz) $421.90 $5.10 Silver (per oz) $6.51 $ Platinum (per oz) $524.00 $2.00 Copper (per lb) $1.13 + $0.06 Lead (per lb) $0.28 $ Z…
Trend to smaller mines worries union
The boom and bust cycles of mining are expected to continue with even more dramatic swings than in the past say a team of researchers for the United Steelworkers of America. The union’s research team …