1991

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…


Homestake gives to Golden Bear

Despite writing down its investment in North American Metals (TSE) by US$32.2 million last year, Homestake Mining (NYSE) recently provided the company about $2.3 million in additional financing. North…




U.S. REPORT Low silver prices bring Callahan loss

Low silver prices are continuing to hurt Callahan Mining (TSE), with both its Galena and Coeur mines in Idaho operating at a loss. The company reported a loss of US$2.5 million for the year ended Dec….


NO HEADLINE (March 25, 1991)

TEXT: Local mining analysts are not expecting 1991 to be a banner year for exploration in British Columbia. The general economic downturn, the gutted flow-through financing mechanism, bearish equity …


Juniors struggle to raise necessary financing

Junior mining companies in Canada, slowed by a slumping economy, can only look back fondly at the heady days of the late 1980s when financing for exploration programs was readily accessible. Flow-thro…


Weak results from Springer gold bet

Exploration on the King’s Point project, 75 miles south of Deer Lake, Nfld., has yielded disappointing results for Springer Resources (VSE). Although three holes drilled to test geophysical and geoche…


Goldex extends gold zone on Val d’Or property

Continuing exploration on the Goldex Extension (GE) zone near Val d’Or, Que., has extended the strike length of gold mineralization on the property by an additional 400 ft. The Goldex Extension projec…


NovaGold’s ambitions rely on processing technology

The corporate strategy of NovaGold Resources (TSE), based in Halifax, N.S., is to become a “vertically integrated major mining company,” says company Comptroller Glenn Holmes, and “a world leader in t…


Cassiar miners back at work

A union dispute at the Cassiar mine in northern British Columbia has been resolved by the ratification of a 2-year agreement by the mine’s 330 union employees. The mine is owned and managed by a unit …


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