Toronto Stock Exchange (September 02, 1991)
Turmoil turned to tranquility during the week ended Aug. 27 as investors put the Soviet crises behind them and looked ahead to Labor Day vacations in Canada and the U.S. As the New York Stock Exchange…
News
Unlisted Trading (September 02, 1991)
Trading moderately during the week ended Aug. 27, Teddy Bear Valley Mines (CDN) picked up 15 cents to close at $1.75 after management announced it had resolved a claim ownership dispute with Card Lake…
Fewer towns spring up around mines in the wilderness
Strung out across Canada are 115 communities dependent on mining for their economic base. Familiar place names spring to mind: Yellowknife, N.W.T.; Faro, Yukon; Kimberley, B.C.; Flin Flon, Man.; Timmi…
Metal Prices (September 02, 1991)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date August 27 August 26 August 23 August 22 August 21 Copper 1343-1344 NA 13…
Rio buys 9.9% of El Condor for its stake in Kemess project
A recently arranged private placement of 1.07 million common shares priced at $2.80 each gives Rio Algom (TSE) an initial foothold in El Condor Resources (VSE) and its Kemess gold-copper project in no…
Vancouver Stock Exchange (August 26, 1991)
Uncertainty surrounding recent events in the Soviet Union sent VSE indices on a wild ride over the reporting period ended Aug. 20. The composite index touched a low of 551.61 before rebounding to clos…
Drilling to start at Norite project
Drilling is expected to begin shortly at the Norite project in northern Saskatchewan. The property is owned by Consolidated Pine Channel Gold (VSE) and is under option to Noranda (TSE) which can earn …
Wetsuits keep raise workers dry
A Canadian mining contractor working at a project in Indonesia recently resorted to wetsuits to prevent its workers from possibly contacting hypothermia. Ram Raising of Timmins, owned by Redpath and a…
NEWS IN BRIEF (August 26, 1991)
Rouyn Mining Resources Inc. (ROU:ME) has changed its name to Richmont Mines Inc. (RIC:ME).
Globex, Noranda in option deal
An option agreement to earn up to a 70% interest in the Lyndhurst project north of Rouyn-Noranda, Que., from Globex Mining Enterprises (ME) has been signed by Noranda Exploration, a unit of Noranda (T…
Westmin posts first-half loss despite lower operating costs
Despite reductions in operating costs, Westmin Resources (TSE) reported a net loss of $5.85 million in the 1991 second quarter after preferred dividends, and a net loss of $11.03 million in the 1991 f…
Promising assays for Kirkton
Kirkton Resources (CDN) has received some encouraging results from a recently completed trenching and sampling program on its Shunsby base metal prospect in the Swayze greenstone belt southwest of Tim…