St. Genevieve Res. reports loss in ’87
A net loss of $3.8 million (47 cents per share) was reported by St. Genevieve Resources (ME) during 1987, compared with a loss of $11,980 (1 cents per share) for the previous year. The company attribu…
1988
Echo Bay completes Muscocho acquisition
Edmonton-based Echo Bay Mines (TSE) has completed the purchase of $23.5 million in convertible debt securities of Muscocho Explorations (TSE), Flanagan McAdam Resources (TSE) and McNellen Resources (V…
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 $…
News in Brief (June 06, 1988)
Liberian Iron Ore (TSE) has announced that the Liberian American-Swedish Minerals Co. has repaid the balance of $4.677 million(US) of the bank loan it obtained in 1983 to enable it to finance at that …
Galveston loss
A major shareholder of Royex Gold Mining (TSE) with a 21% interest, Galveston Resources (TSE), reports a net loss of $333,000 (1 cents per share) for the three months ending March 31, compared to a n…
Ramcor Res. acquires five Quebec claims
Ramcor Resources (ME) has acquired from Rejean Roy a group of five claims located in Dalquier Twp. north of Amos, Que., in return for 100,000 common shares and payment of a 1.5% net smelter royalty. A…
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 …
Sigma earnings up, Kiena income slips
Net income of $1.9 million (23 cents per share) on revenue of $10.3 million was repomted by TSE-listed Sigma Mines (Quebec) for the first quarter this year, compared with net income of $1.67 million (…
Lacana improves 2nd-quarter earnings
Annual output of 50,000 oz gold and 150,000 oz silver is expected from its wholly-owned Santa Fe mine in Nevada which is to go into production in October, Lacana Mining reports. The company, part of t…
Noranda releases results from Grew Creek property (June 06, 1988)
Six out of 15 diamond drill holes completed by Noranda Exploration on its Grew Creek property near Faro, Yukon, show significant gold values. Golden Nevada Resources and Brenda Mines are also involved…
Hemlo Gold seeks doubling of earnings in 5 years
A target of doubling earnings in the next five years has been set by Hemlo Gold Mines (TSE), President John Harvey told shareholders at the company’s first annual meeting since it started trading publ…
Anglesey gets financing mining within two years
By taking on a local partner, Imperial Metals Corp., (TSE) has put its Parys Mountain project on a fast track to production. Located on the Isle of Anglesey in northern Wales, the polymetallic mineral…