Rayrock writes off Colomac gold mine
A $4.2 million writedown, mainly related to a royalty interest in the floundering Colomac gold mine, has made a dent in the 1990 income of Rayrock Yellowknife Resources (TSE). Net earnings for the yea…
1991
Insider Trading Aur executives cash in options
No longer the thrill-a-month drill play that kept investors on tenterhooks for most of 1989, the Louvicourt Twp. massive sulphide project east of Val d’Or, Que., has entered the critical mine developm…
Montreal Exchange NAR is active
The volume leader on the week, North American Rare Metals, got in on the Benoit Twp. excitement in northwestern Quebec by announcing it had purchased a 30% interest in 70 claims about three miles sout…
Noranda drilling Glimmer property (April 01, 1991)
A fourth phase of diamond drilling has begun on the Hislop Twp. gold property of 60/40 partners Noranda (TSE) and Glimmer Resources (VSE) in northeastern Ontario. The property is situated along Hwy. 1…
Icebreaker opens possibilities for Raglan nickel mine
The New Quebec Raglan project, Falconbridge’s perennial mine of tomorrow, is inching closer to a production decision. Recently, a freighter successfully navigated the winter ice and docked at an aband…
Spot prices at a glance (April 01, 1991)
Week’s Price (US) Change Gold* $357.10 — $ 7.10 Silver* $ 3.90 — $ 0.14 Platinum* $390.00 — $11.45 Nickel** $ 4.05 + $ 0.07 Lead** $ 0.27 $ 0.00 Copper{ $ 1.09 + $ 0.01 Zinc{{ $ 0.54 + $ 0.00 Court…
Early start for Chuchi Lake
A $1 million exploration program funded by Digger Resources (VSE) and equal partner BP Resources Canada (TSE) is under way at the Chuchi Lake copper-gold project in north-central British Columbia. The…
Samatosum may have new zone below known reserves
Underground drilling at the Samatosum mine has intersected high-grade mineralization 10 metres below the known extent of reserves. The Samatosum mine, near Kamloops, B.C., is a 70-30 joint venture bet…
TSE volumes, value decline
While the value of shares traded on the Toronto Stock Exchange was down 23.5% in 1990 from 1989 levels, the exchange remains second only to the New York exchange in North America. In 1990, $64 billion…
Mackiw honored at AIME banquet
Vladimir Mackiw, retired executive vice-president of Sherritt Gordon, was recently honored by the American Institute of Mining, Metallurgical and Petroleum Engineers (AIME) at its annual banquet. Mack…
Princeton earnings drop
Higher costs and lower revenues brought about a sizable drop in earnings for Princeton Mining (TSE) in 1990 over the previous year. Princeton reported earnings of $10.8 million for 1990, a significant…
Forbex buys Poirier stake
Forbex Mining (ME) has reached an agreement with Bonanza Metals (ASE) to acquire the latter company’s 50% interest in the past-producing Poirier base metal property in northwestern Quebec. The deal ca…