Correction (February 29, 1988)
Equinox Resources has an option to earn a 60% interest in the Maude Lake gold deposit in Ontario. The deposit contains reserves of more than one million tons grading 0.2 oz gold per ton, not 0.1 oz as…
1988
Two former producers Early ’89 production hope by Golden North and
Following its acquisition of a 57.54% interest in the Bralorne property, Golden North is looking forward to placing the former producing mine back in production in early 1989. The interest was acquire…
Metal Prices FREE MARKET (February 29, 1988)
London Metal Exchange Spot closing prices in Pound Sterling per tonne Date Feb. 23 Feb. 22 Feb. 19 Feb. 18 Feb. 17 Copper 1235-1238 1270-1275 1310-1315 1386-1388 1416-1420 L…
Golden Terrace releases pre-Christmas results
Toronto-listed Golden Terrace Resources continues to produce some good results from drilling at its Richardson Lake project 70 miles east of Red Lake, Ont. With results from pre-Christmas drilling jus…
Seadrift drilling
Encouraging partial assays have been released by Seadrift International Exploration of Vancouver from hole DDH 88-2, which was drilled to 1,600 ft on the 100%- owned Aldermac-Noranda massive suplphide…
Agnico-Eagle denies claims of withholding information
Claims by Noranda Inc. that exploration information about a gold property in northwestern Quebec was withheld prior to the sale of shares in one of the companies involved have been denied by Agnico-Ea…
Chibougamau deal one aspect of Greenstone style
How does this deal sound? Buy a land holding consisting of 81 claims groups for $300,000 cash and 474,920 shares valued at about $1.2 million in total. Then, within a year, farm-out a 50% interest in …
American Pacific reactivates mine
In the 1970s the Honduran government imposed an onerous tax burden on Rosario Resources (a subsidiary of Amax Inc.) which led to the closure of its El Mochito mine, a major lead-zinc- silver producer….
Eldorado, SMDC deal possible brokers’ boon
The privatization of Canada’s as yet unamed uranium mining giant, is expected to spark a scramble by deal-hungry corporate finance departments vying to get a piece of the action. Following the October…
AGIP expanding presence in Canadian mining sector
AGIP Canada, the wholly-owned affiliate of AGIP SpA of Italy, one of the world’s leading oil and gas companies, is taking on a more aggressive role in the Candian mining industry. Although the company…
Belmoral earnings increase sharply
Earnings of $3.5 million (11 cents per share) were recorded by Belmoral Mines of Toronto during 1987, compared with net income of $1.4 million (5 cents per share) for the year before. Revenues for th…
Hope Brook earnings
Net income of $591,000 (2 cents per share) was recorded by Toronto- based Hope Brook Gold for the five- month period ending Dec 31, 1987. Cash provided by operating activities totalled $674,000. Hope …