Structural changes
“Rationalizing” was a well-used term in the mid-1980s when mining companies were losing money by the skip-load and drastic measures were needed to stay in b usiness. Rationalizing was the response to …
1989
Pegasus options Comet gold mine
U.S. gold producer Pegasus Gold Corp. (TSE) has secured an option from High River Gold Mines (VSE) to acquire that company’s interest in the Comet mine proper ty in Jefferson Cty., Mont. The project …
Metal Prices FREE MARKET (September 11, 1989)
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Sept 5 Sept 4 Sept 1 Aug 31 Aug 30 Copper 1915-1917 …
Penzim’s Gulf International in Iskut
With Murray Pezim on board as a director, Gulf International Minerals (VSE) is planning a second-phase work program for its 100%-own ed McClymont Creek property in the Iskut River area of British Colu…
Dumagami shareholder vows to fight Agnico share swap
Third-quarter results released recently by Dumagami Mines (TSE) have convinced a Montreal-based shareholder of Dumagami that the terms of a proposed merger wi th Agnico-Eagle Mines (TSE) do not repr…
High frontier busy with Arizona play
High Frontier Resources (VSE) is planning an exploration program on the Uno gold property in Mohave Cty, Arizona. The company is planning a 5,000-f t reverse c irculation drill program which will test…
Pezim group corrects
The VSE enjoyed yet another lively week of trading activity, thanks to the momentum generated by Murray Pezim’s Calpine Resources and spectacular assay result s from the Eskay Creek gold project in n…
Asarco sells interest in asbestos partnership
A Canadian investor group has purchased the 33.33% interest held by Asarco Inc.’s (NYSE) LAQ affiliate in the LAB asbestos partner ship which operates the wor ld’s largest asbestos mine in Quebec. Th…
Earnings (September 11, 1989)
Northgate Exploration (TSE) reported net income of $880,000 or 0.03 cents per s hare for the second quarter. In the same period last year, the company reported net earnings of $1.3 million or 0.06 cen…
Boston Bay has 90% control of Lac des sles
In a recent story on Madeleine Mines, it was stated that Belleterre Quebec owns 90% of The Platinum Group. As that property was owned by Boston Ba y, was tha t company taken over by Belleterre? Please…
Moss gets approval for Power purchase
Toronto-based Moss Resources (ASE) says it has entered into a $500,000 flow-through private placement with Goldnev Resources In other news, Moss says the transfer ot its interests in 21 mineral proper…
Wilanour work on schedule
A major underground and surface exploration program on the former-producing Co chenour Willans gold mine near Red Lake, Ont., is expected to be completed by Oc tober, partners Inco Gold, Wilanour Reso…