Fourth drill expected soon at Lamaque site
Miners are working on three levels and there are three drills operating, with a fourth expected shortly, at the Lamaque joint venture project at Val d’Or, Que., Tundra Gold Mines reports. Tundra is ea…
News
Vancouver Stock Exchange No “slaughterhouse” for Destiny
These are certainly trying times for investors not only in Vancouver but on the big boards in New York and Toronto. It’s been a no win situation for just about everybody. Bargain hunters seeking quick…
Noble Peak happy with results at Happy Lake
Assay results from exploration work this season in the Happy Lake area near Rankin Inlet, N.W.T., is starting to tie together previously apparent erratic and discontinuous gold values, according to pr…
Rio Algom tries again for PCA amalgamation
Rio Algom says there are a number of benefits to be gained from an amalgamation with its subsidiary, Potash Co. of America, and says it is again trying to push through the amalgamation, after failing …
Current strong gold price portends higher inflation (November 16, 1987)
The price of gold has, at various times, been linked to almost everything including political uncertainty, the price of oil and wars. As is typical of any commodity, the price of gold reacts in the sh…
Kam-Kotia earnings
Toronto-based Kam-Kotia Mines reports income for the first nine months of this year of $904,000 (8 cents per share) compared with $305,000 (1 cents per share) for the same period in 1986. Increased …
Gulf Intl. results
A drill program by Gulf International Minerals on the company’s McLymont claim group has cut 13 ft grading 0.82 oz gold per ton. Another hole assayed 7.7 oz of gold across 6.6 ft. The claim is located…
Breakwater financing
Breakwater Resources plans to raise $2 million via a private placement of flow-through common shares. The issue will be handled by Canarim Investment Corp. The proceeds of the issue will fund explorat…
Metal Briefs
The Royal Canadian Mint reports a dramatic increase in sales of the Gold Maple Leaf coin following the shakeout of world equity markets in mid-October. During the last two weeks of October, sales of t…
Atlantic Report NovaGold going to bulk sample
Approval has been received by NovaGold Resources to proceed with a bulk sampling program at its Fifteen Mile Stream gold property in Halifax Cty., N.S. The company reports a 20,000- ton bulk sample wi…
Fargo, Brenda reach agreement on kaolin project
An agreement has been finalized by Fargo Resources and Brenda Mines covering the Lang Bay kaolin property at Powell River, B.C. Brenda, a member of the Noranda group, may earn a 50% interest in the pr…
Kerr announces 9-month earnings of $17.9 million
Net income for the first nine months of the year was $17.9 million ($1.03 per share) compared with $2.3 million (13 cents per share) for the same period last year, Kerr Addison Mines reports. The com…