Magma’s 1989 results record for company
Despite lower production at its Pinto Valley Division, Arizona- based Magma Copper (NASDAQ) achieved record earnings last year. Magma’s net income for the year ended Dec. 31 was US$58.5 million or US$…
1990
Toronto Stock Exchange Indices (March 05, 1990)
Feb. 27 Feb. 26 Feb. 23 Feb. 22 Feb. 21 HIGH LOW Composite “300” 3660.28 3649.49 3652.59 3668.62 3672.46 4009.47 3649.49 Metals & Minerals 2946.90 2947.75 2921.03 2936.26 2959.23 3453.05 2921.03 Integ…
Douay drilling doesn’t match earlier results
Results from two drill holes on the Douay property in northwestern Quebec failed to match results from the discovery hole announced two weeks ago. Inco (TSE), the operator, says hole 84610, which was …
Crown’s next mine could transform town
About 50 miles northeast of Republic, Wash., the up-and-coming mining town of Chesaw looks like the suitable backdrop for a wild west movie. The town is likely to change, however, as Crown Resources (…
Montreal Exchange Aur drill results
After a 4-month drilling period during which five holes successfully cut the Aur horizon of the Louvicourt project in northwestern Quebec, Aur Resources and Societe Miniere Louvem reported their large…
Major funding for Plexus Res.
An agreement has been reached between Total Energold (TSE) and Plexus Resources (TSE), whereby Total will subscribe for a private placement of six million common shares of Plexus at $3 per share. The …
Noranda plans 10 holes on Glimmer bet
Noranda Exploration, a unit of Noranda (TSE), has completed eight diamond drill holes on Glimmer Resources'(VSE) joint venture gold property near Matheson, Ont., and is planning 10 more in the current…
Deak eases towns” fear of the future
The fear of becoming a mining ghost town has been put to rest in the northern Ontario communities of Virginiatown and Larder Lake. A recent deal between Deak Resources (TSE) and creditors of bankrupt …
Beaufield drilling (March 05, 1990)
A $175,000 drilling program is under way on Beaufield Resources’ (TSE) Lac Rouleau gold property held jointly with 52.5% partner Falconbridge Ltd. in northern Quebec. The property is about 70 miles no…
Gold Commissioner cancels claims next to Eskay Creek
The Chief Gold Commissioner of British Columbia has ordered the cancellation of the DUP 1-3 claims which had been subject to an option agreement between Adrian Resources (VSE) and Paul Dupras and Alex…
Brenda reports $9 million loss
For the year ended Dec. 31, Brenda Mines (TSE) reported a loss of $9.4 million or $1.93 per share on revenue of $49.8 million. That compares with net earnings of $14.6 million or $3 per share on reven…
Higher costs, lower output hurt HudBay
A combination of higher unit costs, employee bonuses and lower than expected copper production added up to a drop in fourth-quarter profits for Hudson Bay Mining & Smelting (TSE) and quarterly loss fo…