Platinum supply to outstrip demand
Supply of platinum in 1991 is expected to surpass demand by 210,000 oz., writes metals dealer Johnson Matthey in an interim review. Supplies may increase, because of increased Soviet sales, to 4.1 mil…
News
NEWS ROUNDUP (December 23, 1991)
Drilling is under way on the 67-unit Hurdman property, about 65 miles north of Timmins, Ont., says owner Noront Resources (VSE). The base metal prospect hosts several mineralized conductors and a half…
Montanore suspension continues
Development work at the Montanore copper-silver project near Libby, Mont., remains suspended because of environmental problems. Noranda (TSE), 55% owner of the project, was forced to shut down operati…
Maurice Hamelin faces 20-year ban
In late November, the British Columbia Securities Commission ordered the removal of Maurice Hamelin’s trading rights, and prohibited him from acting as a director or officer of a public company for 20…
Cambior, Aurizon test zone 20
Most of the current exploration work at the Sleeping Giant mine project north of Amos, Que., is being carried out on zone 20, project partners Aurizon Mines (TSE) and Cambior (TSE), the operator, repo…
Ontex, Placer talks continue
A letter of intent between Ontex Resources (ASE) and Placer Dome (TSE) to finance further exploration on the Brookbank gold property near Beardmore, Ont., has been extended indefinitely. Ontex Vice-Pr…
Cathedral reports quarterly loss (December 23, 1991)
A loss of $114,000 on revenues of $423,000 was reported by Cathedral Gold (TSE) for its 1991 third quarter ended Sept. 30, compared with a loss of $202,000 on revenues of $581,000 for the comparable p…
Miller’s Musings; The Porter prescription: strong medicine
In last month’s column, I pointed out a few shortcomings with the major study on competitiveness done by Professor Michael Porter of Harvard University for Ottawa. In spite of certain weaknesses in th…
Toronto Stock Exchange (December 23, 1991)
Placer Dome stunned investors and angered executives at International Corona during the week ended Dec. 17 by pulling out of a $240-million proposal to develop the Eskay Creek gold deposit in British …
Soquem options Kingswood claims
Soquem, a Quebec government-owned exploration concern, has taken an option on Kingswood Explorations’ (ASE) 60-claim property in the Eastmain River area of northern Quebec. In order to earn a 50% inte…
Osborne receives buy-back approval
Osborne and Chapel Goldfields (TSE) has received final approval to purchase Odin Mining and Investment’s 48.6% interest in the company for US$1.65 million. Under the transaction, Osborne will retain a…
Van Nest steers Landmark into merger with Gateford
Originally a mining exploration company, Calgary-based Gateford Resources (ASE) plans an amalgamation with closely associated Landmark Corp. (TSE). Under the aegis of Vancouver businessman Gary Van Ne…