Rayrock profit up in 1st quarter
Earnings in the first quarter this year of 20 cents a share, before taxes and exploration expenses, compared with 11 cents a share for the 1986 first quarter, are reported by Rayrock Yellowknife Reso…
News
Jascan drifting at Pansilver property
A, 2,000-ft drift being driven by Jascan Resources, is expected to be completed within three months, the company tells The Northern Miner. The underground work has progressed more than 400 ft on the c…
Leoben conference
The Leoben Mining Conference 1987 is scheduled to take place Sept 22-26 in Leoben and Graz, Austria. The conference, organized every 25 years, took place in Leoben in 1962 and 1937, and in Vienna in 1…
News in Brief (May 25, 1987)
Mark Resources recently completed its previously announced $50.3 million financing. The Calgary based company has received receipts for the final prospectus qualifying the common shares and debentures…
Metal snips (May 25, 1987)
Growth in China’s wire and cable sector is likely to be rapid, with copper consumption in the country expected to rise by about 60% during the next 10 years, predicts the Commodities Research Unit of …
Montreal Exchange Essor earning option
Closing up 15 cents to 85 cents on a volume of 614,600 shares this week was Essor Exploration, which is earning a 50% interest in gold property in Malartic Twp. from Black Cliff Mines. President Guy M…
Weak U.S. dollar pushes gold to near $500 mark
Hold on to your hats, gold- watchers. The price of the precious metal may be about to make a run at $500(US) per ounce. Trading in the mid-$470 range (almost $650 Cdn) at presstime, gold has seen an a…
Westfield to acquire Chilean gold property
While it will be later this month before the full details are revealed, Westfield Minerals is close to buying into a promising gold-silver property in Chile. Westfield has reached an agreement, in pri…
Alcan staging construction of new smelter
A new aluminum smelter for Chicoutimi, Que., has been announced by Alcan Aluminum, with construction to be phased in over a five-to-seven-year period. First phase of the Laterriere smelter, to be buil…
Campbell Res. shows profit in 1st quarter
A first-quarter net profit this year of $349,000 was recorded by Toronto-based Campbell Resources, compared to a loss of $4.6 million for the same period last year. Taking into account discontinued op…
Lencourt is positive on silver property
A positive feasibility study has been received by Lencourt Ltd. for the company’s silver property near Gowganda, Ont. The report concludes that the property be brought to production to yield 350,000 o…
Farady records healthy quarter
Faraday Resources of Toronto reported a net income for the first quarter of 1987, before extraordinary item, of $5.3 million (compared with $225,000 for the same period last year), and after extraordi…