BREAKING NEW GROUND
Mining came into the 1980s fat with debt. Now, according to all indications, the industry is closing out the decade lean (in terms of debt-to-equity ratios) and tough (ready to take on the competition…
News
Letters to the Editor Mining issues in New Brunswick
The editorial “Mining a poor cousin in New Brunswick” (N.M., Dec 12/88) unjustly criticizes the level of funding provided by the New Brunswick Department of Natural Resources and Energy for exploratio…
Mishi Lake get $2.8 million to expand
A budget of $2.8 million has been allocated for additional work on the Mishi Lake gold project of Granges Exploration (TSE) and MacMillan Gold (VSE) near Wawa, Ont. The upcoming work program is geared…
BREAKING NEW GROUND CARIBOU
The Australians who picked up the Caribou deposit two years ago for a song expect to be dancing about their good fortune by year-end. But the skeptical eyes of many a senior geologist in the industry …
Newmont to explore Miramar’s Paymaster properties
A gold-silver project in Nevada encompassing several former producers will be explored by Newmont Exploration under the terms of a recent agreement with Miramar Energy Corp. (VSE). The agreement gives…
Murdochville to resume production in 1989
Mining operations at the Murdochville copper mine will resume in the first quarter of 1989, Noranda Inc. (TSE) says. The mine, located at Murdochville, Que., was shutdown in April, 1987 after a fire d…
Hemlo puts $28 million into Central Crude play
Hemlo Gold Mines (TSE) is a firm believer in the Mishibishu gold camp west of Wawa, Ont. The big gold miner is taking down a 750,000- share private placement in Central Crude Ltd. (VSE) at a price of …
Whim Creek board resolves problems over offshore deals
Directors of Australia-based Whim Creek Consolidated and Toronto affiliates Northgate Exploration (TSE) and Westfield Minerals (TSE) appear to have resolved their recent differences. Patrick Hughes wh…
Sumac facing cash flow crunch
Faced with insufficient cash flow to meet current obligations, Sumac Ventures (VSE) recently presented its creditors with a proposal that would allow it to continue producing gold and silver for anoth…
Monte Carlo deal
Canarub NV, a wholly-owned affiliate of Monte Carlo Gold Mines (ASE) has completed a royalty agreement with the government of Aruba. If Canarub’s properties are ever placed in production, the company …
Monique Exploration
Monique Exploration (ME) reports it has pulled off the market its prospectus for flow-through financing worth $1,266,000. Monique, formerly Monicor Exploration, planned to use the funds for exploratio…
Scintrex opens service centre in China
In 1988, Scintrex completed negotiations with the People’s Republic of China which resulted in the opening, on Oct 14, of a service centre for Scintrex instrumentation, in co-operation with the China …