U.S. coal-miner Nerco moves solidly into gold
Choosing between tenure at the University of Alaska or forming his own exploration company, Lawrence Heiner opted out of academia in 1970 and created Resource Associates of Alaska. He hasn’t looked ba…
1988
New Freewest claims
Twenty-five claims in Benoit Twp. in northwestern Quebec have been acquired from Louis-Paul Dionne, Freewest Resources (ME) reports. The company also says it has entered into an option agreement with …
Exploration the only answer to dwindling reserves
From a speech by Norman B. Keevil, Jr., president and chief executive officer of Teck Corporation, at the 1988 Mineral Outlook Conference in Ottawa. The biggest challenge facing Canada’s mining indust…
Toronto Stock Exchange Resource issues lead strong advance
Like a breath of fresh air on a humid Toronto afternoon, a 3-day rally which has added more than 100 pts to the composite index couldn’t have come at a better time. With the market testing post-crash …
Montreal Exchange Market aims higher
A quiet market this week — volume slipped to 2.6 million shares one day — suddenly turned bullish on the final day of our report period, with the market portfolio gaining more than 39 pts and the mi…
Mascot reports operating profit
The Nickel Plate mine of Mascot Gold Mines (TSE) reported an operating profit of $8.3 million for the quarter ended March 31. During that period, Mascot paid off $10 million of its gold loan, equivale…
Omni leasing Venus mill to process Skukum ore
By leasing the former Venus mill from an affiliate, Omni Resources (VSE) hopes to have its Skukum Creek gold property in production later this summer. The mill was previously leased from United Keno H…
Royex reports 2nd-quarter income of $1.2 million
Net income of $1.2 million before unusual items and $3.4 million (4 cents per share) after unusual items was reported by Royex Gold Mining (TSE) for the second quarter ending March 31. For the same pe…
Stratabound gets funds for Indin Lake drilling program
Through a number of private placements and flow-through share agreements, Calgary-based Stratabound Minerals (ASE) has raised about $800,000 to finance exploration on its New Brunswick and Northwest T…
People (June 06, 1988)
Royex Gold Mining Corp – Peter McBride appointed director, public and investor relations and Igor Levental, director, acquisition and evaluations…
Cambior earnings up
First-quarter earnings jumped 16.3% compared with the same period in 1987, Cambior Inc. (TSE) reports. Net earnings were $3.6 million (15 cents per share) on revenue of $26.6 million, compared with $…
Newmont Gold’s reserves up 55% to 31 million oz
Just three months after Newmont Gold announced a $404-million program designed to develop its gold deposits on the Carlin trend in Nevada, the expansion policy is beginning to pay off. While reserves …