Lower demand, prices seen for copper
There’s no doubt the price of copper, which topped $1.40(US) per lb at the end of 1987 but has settled back into the 90 cents -$1.10 range of late, has spurred mining activity of the base metal. Figur…
1988
No joint-venture with Zenmac; Minnova launches counterclaim
Denying a charge by Zenmac Zinc (ASE) that it acted in bad faith in developing the Winston Lake polymetallic deposit in northern Ontario, Minnova Inc. (TSE) has launched a counterclaim in the Supreme …
Aur set to join ranks of Canadian gold producers
After two years of concentrated exploration at its Val d’Or, Que., land holdings, Toronto-based Aur Resources (TSE) will make its debut this September as a Canadian gold producer. The Toronto company …
Placer Dome buys Eastfield shares
A private placement agreement between Eastfield Resources (VSE) and Placer Dome (TSE) gives the latter the right to acquire up to 40% of the outstanding shares of Eastfield. Subject to regulatory appr…
Old shaft gives access at depth to Newfields-Teck
Use of an old mine shaft is giving Newfields Minerals (TSE) and Teck Corp. (TSE) an exploration head start in the Kirkland Lake area of northern Ontario. The old Lake Shore No 5 shaft will give the co…
Ronrico earns 25% interest in Sikmar bet
A 25% interest has been earned by Ronrico Explorations (VSE) in the Simkar gold project near Val d’Or, Que. An agreement between Ronrico and Fonteneau Resources required the former to spend $2 million…
Mount Wright awaits cash due from Spanish royalty
When Mount Wright Iron Mines finally gets the money it’s owed by Exminesa, the company that owns and operates the Rubiales lead-zinc mine in Spain, it should have a significant bundle of cash. Mount…
Anglo Dominion improves financial results in ’87
Like many junior explorers across Canada, Anglo Dominion Gold’s (TSE) ability to finance its main projects was hampered by the Oct 19 market downturn. Nevertheless, the Toronto company’s financial pos…
Metal Prices FUTURES PRICES (May 09, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) May 96.50 95.00 95.90 + 6.55 Jul 91.10 89.60 90…
Troymin reports property results (May 09, 1988)
Reporting encouraging drilling results from properties in Saskatchewan and Manitoba is Troymin Resources (ASE). At La Ronge, where Saskatchewan Mining Development is the operator, 13 holes representin…
Editorial A poor substitute
If there were any doubts about the success of the mineral exploration industry’s attempts to make the continuation of flow- through financing a political issue, they were laid to rest when the federal…
North American Rare drilling continues
North American Rare Metals (VSE) is continuing drilling with three machines at the Matagama area gold property which it owns jointly with Dundee Palliser Inc. (TSE). The deepest hole is still open to …