Kiena plans stock split to broaden share market
Kiena Gold Mines, which almost doubled its profit in 1986, (to $6,959,000 from $3,778,000 in 1985), plans a stock split of its common shares, on a two-for-one basis. Shareholders will be asked to appr…
News
News in Brief (March 23, 1987)
Penway Explorers reports it has an agreement to acquire 20 additional mining claims in the Red Lake area of Ontario. The company says to date no work has been done on these claims, but that it intends…
Funding increased
Toronto-based Canadian Lencourt Mines has completed a placement with NIM and Co., Ltd. Partnership — 1987 of 1,250,000 shares on a flow-through basis, netting the company $500,000, subject to regulat…
Too much on gold
As a subscriber of many years, I have always appreciated your newspaper for its wide coverage of the industry and the completeness of information on the Canadian mining scene. As an expatriate mining …
People (March 23, 1987)
Gold Institute — John H. Lutley appointed managing director.
Researcher turns attention to strontium
The metal strontium has come under the research eye of Dr. J. E. Gruzleski of McGill University’s department of mining and metallurgical engineering. Backed by grants extending over three years of $18…
Proposed asbestos ban is a mistake
Time is running out for Canada’s beleaguered asbestos industry. A final ruling from the U.S. Environmental Protection Agency regarding the proposed phase-out of all asbestos uses in that country is ex…
Carolin throws ball back into Intergold U.S.A. court
Carolin Mines has thrown the ball back into the court of Intergold U.S.A. which claims to have found extremely high gold and platinum values in Carolin mine tailings (N.M., Feb 16/87). The company say…
Production decision at Farley in ’88
A production decision for the Farley Lake gold deposit is scheduled to be made in 1988, partners Farley Gold and Manitoba Mineral Resources say. Located 25 miles east of Lynn Lake, Man., the deposit h…
Metal Prices FUTURES PRICES N.Y. Commodity Exchange (March 23, 1987)
Week’s High Low Close Change COPPER (in US cents per lb.) March 63.45 63.30 63.45 + 0.20 May 63.65 63.35 63.60 + 0.25 July …
East Kemptville write-off spells profit drop for Rio
Profit took a 20% drop this year for Rio Algom Ltd., due to its write- off of the East Kemptvillte tin project. For the year ended Dec 31, Rio posted a final consolidated profit of $70.2 million or $1…
Argentex assays
Argentex Resource Exploration has received check assays for two holes completed on the company’s property in Puiseaux and Orvilliers twps., Que. Hole 87-49 cut three sections of 8 ft, 3.8 ft and 115.6…