Process changing with the times
I would like to thank you for maintaining an excellent flow of exploration news during a prolonged period of upheaval. However, I feel your newspaper could be further improved by more careful editing …
News
Canmine acquires Mexican gold bet
Canmine Resources (CDN) has agreed to acquire a 100% interest in the Moctezuma gold property in Chihuahua, Mexico. The property contains two high-grade gold showings, including a 40-ft.-wide quartz ve…
Mixed response to budget from other sectors; Writedown,
The net loss of $91 million reported by Princeton Mining (TSE) for 1991 reflects a $60-million writedown in subsidiary Cassiar Mining, an asbestos mining company now in receivership. The 1991 results …
Mixed results from drilling at Contact Lake
Widely-spaced holes designed to test the Muskeg and Owl showings on the Contact Lake gold property in northern Saskatchewan have all returned uneconomic intersections, says partner Westward Exploratio…
Newmont earns US$40 million on gold purchase
Newmont Mining (NYSE) recently took advantage of low gold prices to buy 375,000 oz. of gold on the forward market. The new reserve will be used to pay off the balance of a one million oz. gold loan sc…
Public funding available in Rabbit Lake assessment
The federal government has awarded a total of $125,000 to participants in the federal environmental assessment of a proposed expansion at the Rabbit Lake uranium mine. The northern Saskatchewan mine i…
Hurdman stepouts follow zone
Stepout holes on the Hurdman Twp. joint venture property north of Timmins, Ont., have confirmed that the zinc-rich zone intersected in the first drill program (T.N.M., Jan. 20/92) of Noront Resources …
Arimetco placement raises $25 million
Copper oxide specialist Arimetco International (TSE) has raised $24.9 million via a private placement of 5.2 million special warrants at $4.75 each. Acting as underwriters were Midland Walwyn Capital …
PEOPLE; PEOPLE; PEOPLE; PEOPLE; PEOPLE; PEOPLE; Teck flags 3
Developing new mines will be an important cornerstone for growth in the 1990s, shareholders of Teck (TSE) were told at the company’s recent annual meeting. President Norman Keevil provided details of …
1991 probably peak year for Golden Giant gold mine
Gold production at the low-cost Golden Giant mine of Hemlo Gold Mines (TSE) in northern Ontario probably peaked in 1991 at 443,400 oz., according to the Noranda (TSE) controlled company. Hemlo Preside…
METAL MARKETS
ZINC: Producers report reasonably steady sales as consumers continue to buy on a month-to-month basis. In spite of London Metal Exchange (LME) inventories increasing in April from 221,575 to 239,325 t…
U.S.REPORT (May 11, 1992)
The sale of subsidiary Tenneco Minerals to Solvay America for US$500 million in cash was announced recently by Tenneco Inc. of Houston. Tenneco Minerals mines and processes trona ore to produce soda a…