50 YEARS AGO WORLD GOLD BOOM
The end of the gold boom (a boom which caused annual world production rates to nearly double in the past nine years) is not yet in sight. World gold production in 1938, according to preliminary estima…
1989
50 YEARS AGO HARRY OAKES WINS BARONETCY
Harry Oakes, staker and original president of Lake Shore Mines, Limited, and pioneer engineer-prospector of the Kirkland Lake district, added another distinction to his already long list when he was c…
Canamax layoffs fuel merger rumor
Recently, executives at Canamax Resources (TSE) Toronto office were neither confirming nor denying a rumor that the company will be merged with Vancouver-based Canada Tungsten Mining Corp. (TSE). The …
Declining gold prices affect Breakwater earnings
Gold’s dismal price performance has taken its toll on the 1989 first-quarter financial results of Breakwater Resources (TSE). The company’s earnings declined to $890,000 or 3 cents per share for the …
Louvem, Cambior close mine deal
The sale by Louvem Mines (TSE) of a 50% interest in the Chimo gold mine at Val d’Or, Que., to Cambior Inc. (TSE) has been concluded, the companies report. Cambior paid $4 million and provided a gold l…
Gold prices reduce Newmont Mining profits
First-quarter financial results of Newmont Mining Corp. (NYSE) show net income of $9.4 million(US) or 14 cents a share compared with earnings of $114.4 million for the same period last year. The 1988…
Private placement gives boost to St. George
The latest financial results from St. George Minerals (VSE) show a net loss from operations of $919,253(US) or 10 cents per share for the year ended Jan 31, 1989. The loss is a substantial increase …
Editorial Vancouver’s successes overlooked
The latest issue of Forbes Magazine, one of the most widely- read U.S. business publications, contains a scathing attack on the Vancouver Stock Exchange that is unprecedented in its ferocity and lack …
Researchers study salvaging pillars in permafrost
Researchers will study ways to safely and economically salvage some of the 800,000 tonnes of ore that remain in the underground pillars of the Nanisivik lead-zinc mine on Baffin Island. Such a project…
Editorial A cheap shot aimed at Ottawa
One is well advised not to look a gift horse in the mouth. So it may not be wise to criticize the Ontario government’s latest budget for the $5 million allocated to various programs, already in place,…
Vancouver Stock Exchange Bettered VSE plunges to new low
Battered by bad press and low gold prices, the Vancouver Stock Exchange struggled through a particularly dismal trading week as share prices fell and volumes declined to bring the VSE Index to a new l…
Sherritt getting concentrate
Sherritt Gordon Ltd. (TSE) is beginning to receive nickel concentrate from the Redstone nickel mine near Timmins, Ont. The mine is expected to produce 10 million lb of nickel in concentrate per year. …