U.S. REPORT Asarco building new SX-EW plant
At a capital cost of US$54 million, Asarco (NYSE) says it plans to build a new solvent extraction- electrowinning (SX-EW) plant at its Silver Bell mine in Arizona. The new facility, which should be co…
1990
U.S. lifts ban on Soviet nickel exports
The U.S. will begin to import nickel from the Soviet Union, following an agreement between the two countries to end a 7-year-old ban. The agreement, effective June 28, allows the Soviet Union to expor…
Brochure draws attention
The front of a brochure that the Prospectors and Developers Association of Canada (PDAC) recently had printed was designed to alert politicians to the danger currently faced by Canada’s mining industr…
Production imminent at Goldpost’s Hislop
The Hislop East gold prospect in the Timmins-Matheson area of northern Ontario is inching closer to production as partners St Andrew Goldfields (TSE) and Goldpost Resources (TSE) forgo a final bulk sa…
Hard-pressed juniors try new business ventures
The demise of flow-through financing has been particularly damning for junior resource companies that trade on the over-the- counter exchange in Ontario. In the past six months, several juniors have t…
Eden Roc funding
Toronto-based Eden Roc Mineral (ASE) has raised a total of $300,000 by way of a private placement to a European institutional investor. The placement involved 600,000 shares at a price of 50 cents per…
Gold and copper prices rebound
The all-commodity price index of Scotiabank rose slightly in June, but the metal and mineral sub-index headed the other way as the price of gold dropped. The past few weeks have seen a rebound in the …
Euro-Nevada wants royalties in return for Stikine block
Euro-Nevada Mining (TSE) admitted recently that it owns a small block of Stikine Resources (TSE) shares that could play a pivotal role in the struggle between Placer Dome (TSE) and Corona (TSE) for co…
Cyprus first-half earnings slip
For the first six months of 1990, Cyprus Minerals (NYSE) reported earnings of US$55.5 million, or US$1.17 per share, on revenues of US$894.8 million. The earnings were affected by a pretax US$27.5 mil…
De Beers strikes deal with Soviets
The new Swiss subsidiary of De Beers Consolidated Mines has swung a deal with the Soviet Union which gives De Beers a 5-year contract to sell the latter’s rough diamond production. Soviet production f…
Alberta Stock Exchange Adrian benefits from rumored results
Over the past six months, shares of Ontex Resources have quietly moved up above the $1.60 level from below $1 in March. During the week ended July 31, Ontex gained 15 cents to close at $1.65. The gain…
Belmoral to eliminate debt through asset sale to Aur
For the second time this year, Belmoral Mines (TSE) and Aur Resources (TSE) have worked out a deal designed to rescue Belmoral from its financial predicament and expand Aur’s influence in the Val d’Or…