Scotia, Phelps begin drilling
Financed by Phelps Dodge of Canada, Scotia Prime Minerals (ASE) has started drilling a portfolio of Nova Scotian properties. Under the current program, expected to be complete by the end of September,…
1991
Redstone boosts Falcondo interest
Agreement to boost its interest in the Falconbridge Dominicana (Falcondo) nickel operation from 1.7% to 2.2% has been reached, Redstone Resources (TSE) reported. Falcondo produces 68 million lb. nicke…
CORRECTION (August 19, 1991)
The vice-president of exploration for Radisson Mining Resources (ME) is Guy Parent and not Jacques Noel (who acts as corporate secretary) as reported (T.N.M., Aug. 5, 1991).
Deak International private placement (August 19, 1991)
Deak International Holdings has completed a private placement designed to reduce the amount owed to it by affiliate Deak Resources (TSE). But plans to install a base metal circuit at Deak’s Kerr mill …
Significant intersection at Fort Knox
Recent drilling on the Fort Knox property near Fairbanks, Alaska, has returned a 530-ft. intersection grading 0.42 oz. gold per ton in hole 91-319. Fairbanks Gold (TSE) owns a 51% interest in the prop…
Pulse drops Barb project
No further work is being planned by Pulse Resources (VSE) for the Barb project, 100 miles north of Watson Lake, Yukon. The company recently completed its 1991 exploration program which was designed to…
Record output for Hycroft
Record gold production was reported for the 1991 second quarter and first half at the Crowfoot/ Lewis mine in Nevada owned by Hycroft Resources (TSE). Gold production for the second quarter ended June…
Hanna negotiates to sell interest in Iron Ore Co.
Cleveland-based M.A. Hanna Co. is negotiating with Mitsubishi Corp. to sell to the Japanese company a 20% interest in Iron Ore Co. of Canada of Montreal. Hanna has an approximate 28% stake in Iron Ore…
Brenda’s cash at $100 million
Earnings for former copper producer Brenda Mines (TSE) reached $1.5 million during the second quarter ended June 30. With over $100 million in cash and no significant operations, the company’s revenue…
METAL PRICES (August 19, 1991)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Aug 101.40 100.40 101.03 + 0.30 Sept 101.50 100.20 101.35 + 0.55 Oct 100.75 100.00 100.75 + 0.45 SILVER (in US ce…
Output up for Placer Dome, profit down
Despite increased gold production, Placer Dome (TSE) reported a substantial decline in this year’s first-half earnings from 1990 levels because of lower gold prices and a reduced contribution from bas…
TORONTO STOCK EXCHANGE INDICES (August 19, 1991)
Aug 13 Aug 12 Aug 9 Aug 8 Aug 7 HIGH LOW Composite”300″ 3524.23 3495.38 3502.77 3514.65 3528.63 4009.47 3009.91 Metals & Minerals3107.47 3091.71 3114.58 3146.71 3157.93 3453.06 2502.63 Integrated Mine…