Cambior names mine in honor of Sullivan founder
Life has been breathed into another of this bustling mining town’s former producing gold mines. With more than 100 guests on hand, Louis Gignac, president of Cambior Inc (TSE), officially opened the E…
1988
News in Brief (August 15, 1988)
Mono Gold Mines has announced that it has entered into a private placement and flow-through agreement with NIM Resources whereby the partnership has agreed to purchase flow-through shares having an ag…
American Barrick Resources photo
An aerial view of the newly-opened Holt-McDermott gold mine site, located 25 miles northeast of Kirkland Lake, Ont. The gold mine is the first to open in the historic Kirkland Lake gold mining area in…
Metal Prices FUTURES PRICES (August 15, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Aug 90.90 90.50 90.75 — 1.15 Sep 91.90 90.15 …
Investment City issue considered undervalued
Vancouver-based City Resources (TSE) is attempting to bring what should be British Columbia’s largest gold producing mine into production by October, 1989. Located on the Queen Charlotte Islands, off …
Minnova and Rea Gold plan mill at silver bet
Minnova Inc. (TSE) and junior partner Rea Gold (TSE) say a 465-ton-per-day mill could be commissioned and fully operational by mid-June 1989 on the Samatosum project near Adams Lake, B.C. Although the…
Toronto Stock Exchange Interest rates hike, falling gold ravage
Investors scrambled to salvage what little they could following a week-long slump which culminated in a savage 64-pt drop yesterday and today. Last month’ s rally, which set a post-October 19th cras…
Vancouver Stock Exchange Halley gains on Newfields’ deal
A stronger US dollar, talk of higher interest rates and a weaker gold price — the usual culprits — are being blamed for keeping investors on the sidelines of most North American Exchanges, including…
Project poses questions for Lenora and Mary Ellen
The erratic gold distribution in northern Saskatchewan’s Beaver Lodge area is posing some major questions to a joint venture group including Lenora Explorations (TSE), Mary Ellen Resources (VSE) and C…
Glencairn to mine diamonds from placer bet in Brazil
Toronto-based Glencairn Explorations (ASE) is attempting to bring a Brazilian placer diamond operation into production by the second quarter of 1989. Owned by Mineracao Piracicaba of Rio de Janeiro, …
Borealis borrows $25 million to finance Fat Lake prospect
Using its Fat Lake gold project as collateral, Calgary-based Borealis Exploration (ASE) has arranged for a gold backed bond from a U.S. investor group for $25 million(US), the company said recently. U…
Lawsuit without foundation, says ex-Seabright chief
The former chairman and chief executive officer of Seabright Resources says a lawsuit launched against himself and other former directors of the company is without foundation. “The allegations contain…