TORONTO STOCK EXCHANGE INDICES (June 10, 1991)
June 4 June 3 May 31 May 30 May 29 HIGH LOW Composite “300” 3549.59 3554.92 3546.10 3519.45 3498.40 4009.47 3009.91 Metals & Minerals 3216.41 3229.34 3190.37 3081.30 3073.99 3453.06 2…
1991
Asarco to earn Col interest
A recently signed joint venture agreement between Kookaburra Gold (VSE) and Asarco (NYSE) gives Asarco the option to earn a 70% interest in the Col property by spending a total of $10.35 million. The …
Alberta Stock Exchange Cheminis ready to roll
Up five cents to close at 70 cents for the week ended June 4, Northfield Minerals has started work at the Cheminis gold mine near Virginiatown, Ont., and expects to process its first ore within two mo…
Akiko negotiating joint venture
If all goes as planned, Akiko-Lori Gold Resources (VSE) and three associated companies expect to announce shortly the formation of a Canadian joint venture with Gold Fields Canadian Mining. Akiko-Lori…
Potash workers accept contract
Employees at Noranda’s (TSE) Central Canada potash mine recently voted 66% in favor of a new 2-year wage contract that provides for a 10.2% wage increase over the life of the contract. Set to expire A…
Ontario’s new Act sparks concern for survival
Under discussion for years, amendments to Ontario’s Mining Act known as Bill 71 were passed by the legislature Dec. 6, 1990, and became effective June 3 this year. Some of the changes it calls for wer…
METAL PRICES PRODUCER PRICES (June 03, 1991)
ALUMINUM: MW U.S. Market US59-61 cents per lb. (May 16, 1991). ANTIMONY: New York dealer US84-85 cents per lb. (Mar. 14, 1991). BISMUTH: New York dealer US$2.80-2.90 per lb. (Jan. 31, 1991). CADMIU…
Pegasus’ earnings hurt by shutdown at two gold mines
A drop in gold sales and lower metal prices brought reduced first-quarter earnings for Pegasus Gold (TSE) this year over last. Pegasus reported earnings of US$378,000 for the 1991 first quarter on rev…
PPDA to hold 8th triathlon
The eighth annual Great Porcupine Gold Rush Triathlon, organized by the Porcupine Prospectors and Developers Association (PPDA) in Timmins, Ont., will be held July 27. As in previous years, the triath…
Metall’s Copper Range costs unlikely to decline as forecast
Operating costs at the Copper Range mine in Michigan are unlikely to decline as much as originally anticipated, said Klaus Zeitler, president of Metall Mining (TSE), a subsidiary of West German mining…
Brenda sits on cash
With work continuing to dismantle its now-closed copper mine near Peachland, B.C., Brenda Mines (TSE) reported earnings of $1.6 million on revenue of $2.8 million for the first quarter ended March 31….
Grange looks for partners (June 03, 1991)
A consulting firm was recently hired by Grange Gold (VSE), a junior company looking to investigate possible joint ventures or partnership arrangements for its 50% owned Lovitt Mining. Lovitt owns abou…