Teething problems over at Mascot mine
It’s fair to say that Mascot Gold Mines’ Nickel Plate project near Hedley, B.C., has endured its share of teething problems. But for most new mines that’s all part of growing up — the school of “hard…
News
People (February 08, 1988)
Bralorne Resources — W. F. Limin appointed president and chief executive officer succeeding F. W. Fitzpatrick who is retiring after 17 years with the company.
Placer pursues Laonil Lake property
Having completed a $1-million exploration program to earn 60% of Currie Rose Resources’ Laonil Lake gold property in northern Saskatchewan, Placer Dome is planning another sizeable drill program start…
Goldenbell progressing with Pine Tree project
With $28 million(US) in its treasury and access to a $35-million bullion facility, Goldenbell Re sources says it is adequately financed to bring the Pine Tree gold project in Mariposa Cty., Calif., in…
Teck mill to Highland Valley
The long dormant Highmont mill of Teck Corp. will be incorporated into the Highland Valley Copper partnership which until now only included Cominco Ltd. and Lornex Mining. Cominco and Lornex put their…
Cominco has a good year under Teck
Call it luck, good timing or good management — all three helped Cominco enjoy a very successful first year under Teck control. The luck Teck seems blessed with, good management it is renowned for, an…
News in Brief (February 08, 1988)
Breakwater Resources has completed the private placement of 276,000 flow-through shares at $6.325 per share for total proceeds of $1,745,700. The money will be used to fund exploration work on mineral…
Vancouver Stock Exchange Sluggish economy keeps gold down
Lower gold prices are having a very negative impact on the Vancouver market which has still not recovered from the Oct 19 crash. Analysts conclude that forward sales have probably capped gold prices f…
OSC to implement new juniors policy
The Ontario Securities Commission is expected to issue a new policy on financing junior resource companies during the first week of February. The new policy is expected to be implemented April 1. The …
Dawson, Hughes-Lang sell mineral rights to subsidiary for $1-
** year ** With $3 million needed for expanded exploration programs on three placer gold projects, Calgary- based Gold City Resources is attempting to raise $1,750,000 during the current year. L…
Eldorado gets approval for $1-billion mine development
A wholly-owned subsidiary of federal Crown corporation Eldorado Nuclear has received environmental approval to go ahead with a 3-pronged mine development plan in northern Saskatchewan. Estimated to co…
Economic slowdown brings lower prices for gold
Although 1988 is still young, anyone expecting the price of gold to carry on from the high levels of last year may be forgiven for having second thoughts. The precious metal, which closed 1987 at $486…