Taiwan buying gold in bulk
In an effort to try to reduce its trade surplus, Taiwan is considering purchasing up to one-quarter of the world’s annual gold production, the news agency Reuter reports. Taiwan, which has foreign exc…
1988
Centre fosters research
The Geomechanics Research Centre at Laurentian University in Sudbury is intended as a cornerstone of a centre of excellence in mining in Ontario, says Dr Peter Kaiser in a report made to the universit…
Uranium counts on new markets
The future for Canadian uranium lies in the continued growth of nuclear-powered capacity and continued access to the U.S. market, according to the president of Rio Algom (TSE) of Toronto. R. W. Ballme…
Vancouver Stock Exchange Little direction to market trading
It’s a seesaw market in Vancouver at present and things aren’t likely to change until after spring breakup. Gold has been stronger because of tensions in the Middle East and so has the Canadian dollar…
Potash Corp. reduces loss
It was a better year for Potash Corp. of Saskatchewan in 1987 but the Crown corporation still reported a loss of $20.7 million. In what might be considered a turnaround year, the company’s loss repres…
Montreal Exchange Northgate-Audrey deal
In a week of mixed trading highlighted by a flareup of fighting in the Persian Gulf involving Iran and the U.S. and a small rise in the gold price, the Montreal Exchange’s general market portfolio ind…
Shareholders approve fundamental changes to Equity Preservation
Shareholders of Equity Preservation Corp. overwhelmingly approved a management proposal to change the closed- end investment firm into an operating exploration company at a special meeting. Legal chal…
Delaware falls to Colossus
It almost seemed too easy and there wasn’t even a White Knight around to come to the rescue. Delaware Resource Corp. (VSE) has, as expected, fallen prey to Prime Capital affiliate, Colossus Resources …
Echo Bay to control Muscocho
Edmonton-based Echo Bay Mines (TSE) recently took another step in a growth strategy which has seen gold production increase 56% from 1986 levels by acquiring a major interest in the Muscocho group of …
Micham program encounters gold
Over 600 ft of underground decline has been completed at Mono Gold Mines’ (VSE) Bannockburn property near Madoc, Ont. Micham Exploration (VSE) has an option to earn a 51% interest in the project for a…
Abitibi Metals defining zone
A zone 1,100 ft long and about 1,500 ft deep has been defined on the Jolin gold property in Carpentier Twp., located about 30 miles northeast of Val d’Or, Que., Abitibi Metals Mines (ME) reports. Amon…
Exploration planning keeps Lac ahead of game
With gold production last year of 306,000 oz and earnings nearly triple what they were in 1986, Lac Minerals (TSE) isn’t about to forget the value of field work in uncovering new deposits. “Our explor…