LAC MINERALS’ MACASSA MILL
For most of his working life, Macassa’s mill superintendent, Len Robinson, worked with Merrill-Crowe gold recovery systems. He was a stranger to carbon-in-pulp (cip) technology when it was incorporate…
1990
Cons. TVX reports reduced earnings
Consolidated TVX Mining (TSE) reported reduced annual earnings for 1989 of $6.3 million or 15 cents per share, compared with $13.3 million or 44 cents per share in 1988. TVX said the decrease in earni…
Claim sales net B.C. more than $280,00
Three mineral claim sales held in Nelson, Smithers and Vancouver netted the British Columbia government more than $280,000. Mines Minister Jack Davis said the mineral claims up for sale had reverted o…
Barrick gold output at quarterly record
Record gold production, earnings and cash flow were reported by American Barrick Resources (TSE) for the first quarter of 1990. Net income increased to US$13.1 million (10 cents per share) on a fully …
U.S. Report Homestaker doubles first-quarter profit
San Francisco-based Homestake Mining (NYSE) reports increased first-quarter net income of $13.2 million, or 13 cents per share, almost double last year’s first-quarter earnings of $7.1 million, or 7 c…
Former DRX head files lawsuit
Robert Clarke, former president of DRX (NASDAQ), has filed a lawsuit seeking to invalidate the election of a slate of directors at the company’s recent shareholder meeting in Delaware,. DRX is a preci…
Hardrock, Geraldton, Ferau joint ventures
Three separate joint venture agreements have been completed by Hardrock Extension (TSE), Geraldton Longlac Gold (COATS) and Ferau Resources (COATS). In the first agreement, Hardrock’s 17.5% interest i…
Lower zinc prices cut into Brunswick earnings
Despite record zinc recoveries from Brunswick Mining and Smelting (TSE) No. 12 mine near Bathurst, N.B., lower zinc prices have slashed the company’s first quarter earnings by 60% from last year’s fig…
Public hearings planned for Cinola mine
Public meetings are being planned to address environmental and other key aspects of the controversial Cinola gold mine project on the Queen Charlotte Islands of British Columbia. British Columbia Mine…
Pelangio claims
Nineteen claims adjacent to the Detour Lake mine of Placer Dome Inc. in northeastern Ontario were recently acquired by Pelangio- Larder Mines (COATS). President Maurice Hibbard said previous drilling …
PRODUCER PRICES (April 30, 1990)
ALUMINUM: MW U.S. Market US70.75- 71.75 cents per lb. (Apr. 11, 1990). ANTIMONY: New York dealer US84-86 cents per lb. (Feb. 15, 1990). BISMUTH: New York dealer US$4.30-4.40 per lb. (Feb. 8, 1990). CA…
Major General pays $12 million for Umex package
In return for 32 Canadian properties and associated assets, Major General Resources (VSE) will pay over $11.7 million to Umex, a unit of Union Miniere of Belgium, but only $250,000 will be in cash. Of…