Gunsteel reserves up at B.C. Nugget mine
Underground development work and diamond drilling have boosted reserves at Gunsteel Resources’ Nugget mine property in southeastern B.C. closer to the desired threshold for production. The company’s i…
News
COATS Trading Features (March 09, 1987)
Augdome Corp made a slight advance to 28 cents -33 cents . The company, which holds a large land position southeast of the big Dome mine near Timmins, Ont., has received an offer from Diepdaume Mines …
Stewart, Hughes/Lang win major PDA awards (March 09, 1987)
The Prospectors and Developers Association of Canada (PDAC) has named Merton Stewart as Prospector of the Year. Richard Hughes and Frank Lang have been named Developers of the Year. When Prasanta Sar…
Bruneau, Montclerg near property deal
An agreement whereby Bruneau Mining may earn a 60% interest in Montclerg Resources’ 475 acres of gold property in Walker and Clergue Twps. near Timmins, Ont., has been reached in principle. To earn it…
Duthie mine top priority for Bishop Resources in ’87
The Duthie mine property near Smithers, B.C., will be a top priority for Bishop Resources Development this year. The company acquired its interest in the project from Duthie Holdings, a family concern…
Rockford options Swansea, Eldor completes deep holes
Eldor Resources has optioned a part of its interest in a 28-claim property north of Larder Lake, Ont., to Rockford Minerals. Rockford, which is planning to go public in April, has the right to earn a …
MFC Mining Finance Corp.
MFC Mining Finance Corp. recorded a net income of $3,554,230 (29 cents per share) from revenues of $24,635,111 for 1986. Consolidated cash flow from operations amounted to $11,791,735 (96 cents per s…
Ateba major player in Beardmore camp
Reactivated under well-known mining engineer Peter Howe, Alberta-listed Ateba Mines is making its mark in the Beardmore camp of Ontario, having optioned or acquired in that camp about 20 km of contigu…
Cambior receives exploration funds
Two agreements to finance exploration programs for 1987 have been signed by Cambior Inc. The first contract is with CMP 1987 (Quebec) Resource Partnership and Co. Ltd., for the financing of exploratio…
Steep Rock writeoff results in year loss
Steep Rock Resources has written off its $648,208 investment in the Lake St. Joseph iron ore property. The property is near Atikokan, Ont. As a result, the company realized a loss of $188,205 for 1986…
Pine Point reports profit but proceeding with closure
Somewhat ironically, Pine Point Mines reports that in 1986 the company had unaudited net earnings of $2 million, compared with a net loss from operations in the previous year of $2.2 million, before w…
Serem Inc. could be first to produce in Toodoggone area
Exactly when Serem Inc. will make a production decision on its Lawyers property is still uncertain. What is known, however, is the fact the company must decide by March 31 in order to qualify for gove…