Mascot reports operating profit
The Nickel Plate mine of Mascot Gold Mines (TSE) reported an operating profit of $8.3 million for the quarter ended March 31. During that period, Mascot paid off $10 million of its gold loan, equivale…
News
Omni leasing Venus mill to process Skukum ore
By leasing the former Venus mill from an affiliate, Omni Resources (VSE) hopes to have its Skukum Creek gold property in production later this summer. The mill was previously leased from United Keno H…
Royex reports 2nd-quarter income of $1.2 million
Net income of $1.2 million before unusual items and $3.4 million (4 cents per share) after unusual items was reported by Royex Gold Mining (TSE) for the second quarter ending March 31. For the same pe…
Cambior earnings up
First-quarter earnings jumped 16.3% compared with the same period in 1987, Cambior Inc. (TSE) reports. Net earnings were $3.6 million (15 cents per share) on revenue of $26.6 million, compared with $…
Newmont Gold’s reserves up 55% to 31 million oz
Just three months after Newmont Gold announced a $404-million program designed to develop its gold deposits on the Carlin trend in Nevada, the expansion policy is beginning to pay off. While reserves …
Sigma earnings up, Kiena income slips
Net income of $1.9 million (23 cents per share) on revenue of $10.3 million was repomted by TSE-listed Sigma Mines (Quebec) for the first quarter this year, compared with net income of $1.67 million (…
LAW DIRECTORS BEWARE
As a director or officer of a corporation carrying on business in Ontario, you might not know that you could be liable to a fine in the order of several tens of thousands of dollars and/or imprisonmen…
MILLING: WHAT”S NEW AN ATTRACTIVE LINER
Thanks to a new grinding concept in the form of rubber magnetic mill linings, considerable savings in energy and grinding media consumption can now be achieved. “In some cases, it (the magnetic liner)…
Maintenance: What’s New * * *
** A 3-IN-1 PUMP ** Toyo Pumps North America is selling a new pump that incorporates a diaphragm, hose and piston or plunger. Unlike conventional piston/plunger pumps, where pumping product enters the…
Open-Pit Mining: What’s New CONVEYING POWER
One of Canada’s foremost technology watchdogs has predicted that the surface mines of the 1990s will be so dependent on computer-based technology that manpower will be reduced to one-third of current …
UNDERGROUND WHAT’S NEW HIGH-SPEED MUCKING
Diesel load-haul-dump machines (better known as LHDs or simply scoops) revolutionized underground base metals mining in the early 1960s. Their main advantage was the flexibility they offered. In the l…
THE PANEL OPERATION
About 2 billion years ago when this planet was a chilling, uninhabitable place, a pre-Cambrian stream laden with uranium-rich gravels emptied into a lake or inland sea just north of what is today the …