Correction (December 04, 1989)
Contary to what was reported (N.M., Nov 27/89), NovaGold Resources (TSE) President Gerald McConnell currently holds 577,000 of the company’s shares. Secretary-treasurer Angus McIssac holds 758,837 Nov…
1989
Spot prices at a glance (December 04, 1989)
Week’s Price (US) Change Gold*$410.75+$ 4.15 Silver*$ 5.61 $ 0.19 Platinum*$515.35 $17.15 Nickel**$ 4.17 $ 0.18 Lead**$ 0.30 Copper-$ 1.15+$ 0.03 Zinc-$ 0.64+$ 0.01 Courtesy of Scotiabank. Informa…
Antioch seeks funds for N.S. Mines
Westminer (Canada) may have done another company a favor when it abruptly dropped an option on the Logan gold property here in November, 1988. Its sudden departure, after spending $5 million on drifti…
Audrey financials reflect Mobrun ore
Audrey Resources (TSE) of Rouyn-Noranda, Que., reported net income of $1.03 million or 10 cents per share for the nine months ended Sept 30, compared with $602,880 or 7 cents per share for the same …
Moss Res. named after Moss’ McKelvey
In your edition of Oct 2, 1989, you ran an interesting article regarding the derivation of names of a number of junior resource companies. Included was the name of Moss Resources whose origin was attr…
Echo Bay Mines earnings lower
Third-quarter earnings were lower for Echo Bay Mines (TSE) despite increased gold and silver production from the company’s expanding mining operations in Nevada. The company had net earnings of $9.6 m…
Durga President deals Allan bet to own company
Calgary-based Durga Resources (ASE) recently agreed to acquire from President Jasi Nikhanj, a Northwest Territories gold prospect which was optioned recently by Noranda Exploration. Situated 60 miles …
NDU ups reserves at Marg property
Recent drilling increased reserves on the Marg property, owned 66.7% by NDU Resources (VSE) and 33.3% by Cameco. The latter company is owned by the federal and Saskatchewan governments. The deposit, i…
Earnings jump for Equity Silver
Increased production and lower production costs boosted earnings for Equity Silver (TSE) for the nine months ended Sept 30. Earnings reached $12.4 million or 38 cents per share on revenues of $69 m…
Gold mining in Nova Scotia hinges on success at Orex
Westminer (Canada) may have made a strategic error when they abruptly dropped an option on the Logan gold property here in November, 1988. Their sudden departure, after spending $5 million on drifting…
Sherritt Gordon adopting shareholders rights plan
Toronto-based Sherritt Gordon (TSE) has adopted a poison pill or shareholder rights plan to prevent itself from becoming the victim of a creeping takeover bid. While the company said it isn’t aware of…
Bitech exploring Rogues Harbour bet
Toronto-based Bitech Corp. (TSE) has reported preliminary assay results from reconnaissance sampling on its Rogues Harbour property in the Betts Cove area of Newfoundland. Bitech says it has encounter…