PROFILE (March 09, 1992)
Next month President Michael Spoko, 53, will succeed retiring Donald Phillips to become Inco Ltd.’s chairman and chief executive officer. Asked as to why he was chosen for the top job, Sopko replies, …
1992
Hecla to develop Grouse Creek
Following an increase in estimated reserves at the Grouse Creek project in south-central Idaho, owner Hecla Mining (NYSE) is planning to bring the property into production. Proven and probable reserve…
Asarco drops Frasergold after spending $3.4 million
After spending $3.4 million on exploration during the past two years, a unit of Asarco (NYSE) recently dropped all rights to earn an interest in the Frasergold property under the terms of a 1990 optio…
Cominco doubles reserve estimate at Pebble Copper
A drill program carried out by a unit of Cominco (TSE) during 1991 more than doubled preliminary reserves at the 100% owned Pebble Copper deposit in the Bristol Bay region of Alaska. The deposit is no…
Trillion buying half interest in Zimbabwe mine
A 50% interest in Jena Mines Ltd., which operates a small gold mine in central Zimbabwe, is being acquired by Trillion Resources (ASE). The purchase, subject to regulatory approval, is being made thro…
Refurbishing job at Queen’s labs
Refurbished undergraduate laboratories used by mining engineering students at Queen’s University in Kingston, Ont., were officially opened March 5. Nickel producer Inco Ltd. donated $1 million toward …
Vancouver Stock Exchange (March 09, 1992)
Investors on the VSE are showing a bias for non-resource issues, but despite this trend, the VSE resource index managed an 11.48-point gain to 530.27 during the week ended March 3. The composite index…
EDITORIAL PAGE (March 09, 1992)
It was only a passing reference in Finance Minister Donald Mazankowski’s recent federal budget, but Ottawa’s plan to consider privatizing the Cape Breton Development Corp. (Devco) is a good one. The p…
New owner planning to expand Quinsam coal
Expansion of the Quinsam coal mine on Canada’s west coast is planned by the project’s new owner. “We screened scores of properties before we found what we were looking for,” George Vooro, president of…
Montreal Exchange (March 09, 1992)
Continuing its active trading during the week ended March 3 was Orient Resources, which has a busy slate of exploration programs, including a joint venture at a gold property in Benoit Twp. in northwe…
Dasserat nixes Bellex deal
Following a due diligence review, Dasserat Developments (VSE) elected not to proceed with an earn-in agreement on the Monument Bay project in northeastern Manitoba. The company recently announced a de…
Lower prices, output hurt Hecla in 1991
A net loss of US$15.4 million was reported by Hecla Mining (NYSE) for 1991, a downturn from 1990 when the company recorded net earnings of US$6.7 million. A loss of US$1.9 million on revenue of $27.3 …