Homestake earnings battered by higher costs
Higher production costs and lower gold prices have hurt the first-quarter earnings of Homestake Mining (NYSE) for 1989. The company saw its net income decline to $7.1 million(US), or 7 cents a share,…
1989
Battle Mountain earnings lower
Battle Mountain Gold (NYSE) reported net income of $10.8 million(US) or 16 cents per share in the first quarter of 1989 compared to $15.8 million or 24 cents last year. The decrease was largely attr…
Oneida’s Mexican Hat bet optioned by Placer Dome
The American subsidiary of Placer Dome Inc. (TSE) has acquired an option on Oneida Resources’ (VSE) Mexican Hat gold property in Arizona. Placer has the right to earn a 60% interest by buying 400,000 …
Canyon Resources sees improved earnings in 1989
Production from the new Kendall gold mine near Lewistown, Mont., is expected to improve the financial bottom line of Canyon Resources (NASDAQ) this year. The Colorado-based company reported a net loss…
Colby resumes work on Scottish gold bet
Exploration work has resumed on Colby Resources’ (VSE) gold- silver project in Loch Tay, Scotland, where a gold discovery was made last year. Colby has a 50% interest in a gold-silver prospecting lice…
Results confirming zinc deposit: VSM
Drilling results confirm the growing significance of the zinc deposit hosted in two horizons at the Grevet M property in the Matagami area of northwestern Quebec, VSM Exploration (ME) reports. The com…
Feasibility for Donalda
The Donalda gold project near Rouyn-Noranda, Que., is to undergo a feasibility study this year following completion in August of an underground exploration program, including a mill test on a 28,000-t…
Editorial Budget of broken promises
Promises. They’re easy to make, and in the case of politicians, difficult to keep. The Tory budget tabled by Finance Minister Michael Wilson in parliament last week was supposed to be a model of stric…
Spot prices at a glance (May 08, 1989)
Price Week’s ($US) Change($) Gold* 376.50 — 7.90 Silver* 5.64 — 0.14 Platinum* 534.50 +13.50 Nickel** 6.54 — 0.22 Lead** 0.29 + 0.01 Copper 1….
New mill boosts FirstMiss earnings
Now that it has a new mill up and running at its Getchell gold mine project in northern Nevada, FirstMiss Gold Inc. (NASDAQ) is reporting a significant increase in its net earnings and operating profi…
Montreal Exchange Eastmain go-ahead
Mixed trading marked the week in Montreal, where the general market portfolio index jumped more than 30 pts and the mining and minerals index dropped almost 20 pts. Daily volumes ranged between 4.3 mi…
Varna, Gingrich Exp. complete Tilt deal
Calgary-based Varna Gold (ASE) and Gingrich Exploration have signed an agreement allowing Varna to earn a 100% stake in the Tilt Cove gold property in return for expenditures of $250,000. The property…