Goldquest work tops $1 million
More than $1 million was spent in 1987 by Goldquest Exploration (TSE) on exploration work at its properties in the Red Lake area of northwestern Ontario, shareholders were told at the annual meeting. …
News
Micham, Mono project results
Results from an underground exploration program have been received by Micham Exploration (VSE) and Mono Gold Mines (VSE) from their Bannockburn property near Madoc, Ont. A total of 352 ft of drifting …
Northumberland arranges $2.8-million financing
Toronto-listed Northumberland Mines, which is about 90%-controlled by another Toronto-listed company — NovaGold Resources — has reached an agreement with two limited partnerships for $2.8 million in…
FINANCING (May 30, 1988)
ONTARIO Grand Empire — final rec iss offer 1,200,000 @ $1.20 per sh. Harrington Sound — final rec iss offer 700,000 @ $1.60 per sh to net $560,000. Released from Escrow Ateba — 100,000 shs released…
Late June start up planned for Coral’s Robertson mine
Vancouver-based Coral Gold Corp. (VSE) has committed itself to a late June startup date for commercial production at the Robertson gold property in Nevada, the company said recently. Located about 35 …
Letters to the Editor Shallow drilling
I was surprised to read in the May 23 edition of The Northern Miner that at Amca’s Silver Cross property in Arizona “water problems have all but eliminatd any chance of finding economic reserves near …
Metal prices boost Hudson Bay results
Improved copper and zinc prices spurred Hudson Bay Mining and Smelting (TSE) to a profitable first quarter. The company reported first quarter net earnings of $8.8 million on revenues of $94.3 million…
Threat of strike could send prices for nickel soaring
The current contract of hourly-paid workers at two Inco Ltd. (TSE) installations in Ontario expires May 31 and the possibility exists that a strike could send already high nickel prices through the ro…
Timmins Report Moneta to restart drilling
Diamond drilling will resume in June on the Michaud Twp. property of Moneta Porcupine Mines (TSE) in the Harker-Holloway area east of Timmins, says Vice-president Francis Yungwirth. A diamond drilling…
Orleans acquiring east coast interests
An agreement has been reached between Orleans Resources (ME) of Val d’Or, Que., and Hathor Resources, a non-trading public company, whereby Orleans may acquire a 50% interest in the latter’s Nova Scot…
Toronto Stock Exchange Low volumes, sluggish trading keep lid on
Trading on the markets was characterized by another week of sluggishness as both volumes and prices remained weak. On Toronto, the composite index gave up 3.86 pts to close at 3,179.62 pts. Volume was…
FUTURES PRICES N.Y. Commodity Exchange (May 30, 1988)
Week’s High Low Close Change COPPER (in US cents per lb.) May 100.00 97.80 98.00 — 5.00 Jul 91.95 89.50 89.75 + 6.15 Sep 88.50 85.80 86.15 — 4.55 SILVER …