New Nova Scotia coal mine
Work should begin in January, at the latest, on a new dedicated underground thermal coal mine in Stellarton, N.S. The mine has been in the plans of Westray Coal Inc., 50%- owned by Giant Yellowknife M…
1988
Montreal Exchange Golden Pond drilling
News that a new gold mine in Quebec’s Casa Berardi region is being opened by Inco Gold and Golden Knight Resources is exciting enough, but now the two companies report a couple of significant intersec…
Pioneer earnings reflect seasonal operations
Second-quarter financial results for Pioneer Metals (TSE) remained much the same as comparable 1987 figures. Net income for the period was $870,000 compared with $770,000 for the period ended June 30,…
Robex, Aylmer begin exploration of Raymor bet
An exploration campaign has been started up by Robex Resources (ME) and Aylmer Mines on the Lac Arthur property located in Dalquier Twp. in northwestern Quebec. The companies may earn up to a combined…
Newmont earns $24.5 million
Newmont Gold reported second quarter net income of $24.5 million or 23 cents per share, virtually identical to last year’s results for the same period. Gold sales in the quarter amounted to 194,500 oz…
Black Hawk deal
Black Hawk Mining Inc. (TSE) has entered into an agreement with Lodi Metals (VSE) which gives Black Hawk the right to earn a 55% interest in Lodi’s graphite property near Smith Falls, Ont. Black Hawk …
Borealis to place Fat Lake assets into new subsidiary
Calgary-based Borealis Exploration (ASE) says it plans to form a new subsidiary before bringing its Fat Lake gold project into production next year. To be named Borealis Fat Lake Mine Ltd., the new en…
High grade gold on Roxy zone
Drilling is continuing on the Roxy zone where several drill holes have intersected high grade gold values across wide widths, Golden Rule Resources (TSE) says. Operated by Saskatchewan Mining Developm…
Metal Prices (September 05, 1988)
FREE MARKET London Metal Exchange Spot closing prices in Pound Sterling per tonne Date Aug 30 Aug 29 Aug 26 Aug 25 Aug 24 Copper 1392-1394 N/A 1398-1399 1396-1398 1378-13…
Heap-leach operation planned by Novagold
An open-pit gold-silver mine is planned by Novagold Resources (TSE) at Restigouche Cty., N.B., in the Bathurst area. Capital cost of the mine is estimated at $6.1 million. The Atlantic Canada Opportun…
Books in Review North American gold stocks book (September 05, 1988)
Buying and selling North American gold stocks holds the excitement, fascination and profit-potential of investing in other forms of gold, but with the measured prudence and rational decision-making re…
MacDonald Mines regains shares in Gallen mine
A group of shareholders representing more than 10% of the issued shares of COATS-listed MacDonald Mines is trying to breathe new life into the mining company. At a recent meeting in Montreal, the comp…