Hoisting: Engineers and legislators face off
It’s a very rare event in underground mines. But it couldn’t have happened at a worse time, in terms of public relations, for Placer Dome. As 500 delegates from around the world began checking into th…
News
Toronto Stock Exchange Summer rally pushes index near record high
Ground continues to be gained by the stock market which closed just shy of the 3,400-pt mark today. The market rally, which began several weeks ago, has added more than 200 pts to the composite index,…
Vancouver Stock Exchange Drill intersections spur trading
The Vancouver market has finally come down to earth after Huntington Resources reported a spectacular drill intersection (N.M., June 13/88) grading 2.0 oz gold over 235 ft. After reaching a high of $5…
PRODUCER PRICES (June 20, 1988)
ALUMINUM: MW U.S. Market $1.26-$1.32 per lb. (June 2, 1988). ANTIMONY: New York dealer $0.98-$1.02 per lb. (June 9, 1988). BISMUTH: New York dealer $5.55-$5.70 per lb. (May 12, 1988). CADMIUM: New Yor…
FINANCING (June 20, 1988)
ONTARIO Golden Penguin — final rec iss offer 1,000,000 @ $1.60 per sh. Home Lake — final rec iss offer 500,000 @ $1 per sh. VANCOUVER Armanda Gold — gross proceeds rec $165,000. Rat Res — gross pr…
News in Brief (June 20, 1988)
Playing a much more aggressive role in the Vancouver market, Homestake Mining recently concluded option agreements with McConnell-Peel Resources (VSE) and Sheba Copper Mines. The agreements, which cov…
Vedron awaits results
Mid-summer results to be gathered from exploration work on the Fuller zone of the Vedron property at Timmins, Ont., should be sufficient to justify the start of production by the end of the year, Vedr…
Golden Terrace seeks joint venture partner
Golden Terrace Resources (TSE) expects to have a senior mining company take on a joint venture partnership this summer on its Richardson Lake gold property in northwestern Ontario. At the company’s an…
Murgold, Chesbar encouraged by Chester results
A $4.2-million exploration program at the Chester Twp. project south of Timmins, Ont., is producing some encouraging results for partners Chesbar Resources (ME) (60%) and Murgold Resources (VSE) (40%)…
Breakwater buys into Noramco
In a deal that involves $6 million in cash and $14.8 million in shares, Breakwater Resources (TSE) will become the largest corporate shareholder in Noramco Mining (TSE). Howard Gougeon, vice-president…
Aur reports decrease in first half income
On schedule to begin production in September at its wholly- owned Kierens project at Val d’Or, Que., Aur Resources (TSE) of Toronto reported a drop in first half earnings. Aur reported net earnings of…
Alberta Stock Exchange Baslen trades higher
It was a case of “as you were” in Alberta as most of last week’s most active issues traded ahead of the pack on slightly lower volumes. International Baslen led the way with a 34} increase in its shar…