Freeport options Texada property
The gold potential on Texada Island, 50 miles northwest of Vancouver, has attracted Freeport-McMoRan Gold (NYSE) which recently optioned property from Vananda Gold (VSE). The option agreement involves…
News
Canadian, U.S. mining share goal
From a speech by federal mines minister Gerald Merrithew at the 1988 Minerals Policy Outlook Conference. The mining industries in Canada and the United States have many similarities. Both industries p…
Placer Dome subsidiary to build mill at Papau New Guinea mine
A Placer Dome (TSE) subsidiary plans to establish a 8,000-tonne- per-day mine and mill complex at its one-third owned Porgera gold deposit in Papua New Guinea at a cost of more than a billion dollars….
Lower quarterly profit reported by Louvem
A gross profit of $108,000 and a net profit of $65,000 were recorded by Louvem Mines (TSE) during the first quarter of this year, compared with a gross profit of $1.5 million and a net profit of $322,…
Huntington shakes VSE
What has been described as a “barn burner” of a drill hole yielded spectacular gold values at Huntington Resources’ (VSE) Brett property west of Vernon, B.C. The intersection that may have jolted th…
San Paulo share sale
Subject to a July 15 closing, San Paulo Explorations (ASE) has entered into an agreement to sell, on a private basis, one million shares in the capital stock of the company at $1 per share with warran…
Cassiar negoitating to buy copper mine from Newmont Mines
At press time The Northern Miner learned that Cassiar Mining (TSE) was negotiating the purchase of Newmont Mines’ Similkameen Copper operation near Princeton, B.C. The move by Cassiar appears to be an…
Inco expects its nickel price will top $5/lb
The world’s premier nickel producer, Inco Ltd. (TSE), says its expects its average realized price for nickel will exceed $5(US) per lb for the second quarter of 1988. The company, which doesn’t normal…
Haileybury speaker
Haileybury School of Mines held its graduation recently and the convocation speaker for the event was James S. Redpath, founder and chairman of the J. S. Redpath group of companies. In 1962, Redpath …
Metall attempts to shed `holding company’ image
When Placer Dome Inc. (TSE) announced recently that it was selling a 25% stake in Falconbridge Ltd. (TSE), one of the most likely buyers appeared to be Metall Mining(TSE). The newly created mining win…
Overton to amalgamate with Newfoundland Exp.
Toronto-based Overton Energy and Resources has agreed in principle to amalgamate with private company called Newfoundland Exploration, Overton said recently. “Newexco’s” principle asset is the Handcam…
Impressive assays SNIP looks good underground
Impressive assay results have been reported by Cominco Ltd. (TSE) and Delaware Resources (VSE) from underground exploration and development in the Twin zone at their SNIP project northwest of Stewart,…