Westar Mining losses mount
Low coal prices and the high level of the Canadian dollar continue to take their toll on Westar Mining (TSE). The company reported a net loss of $9.8 million for its 1991 second quarter and a loss of …
News
IOCC GOLD OPTIONS (August 19, 1991)
The New York closing gold price was $350.00 per oz. Last quotations for gold options traded in Montreal and Vancouver as provided at the close of trading each Tuesday by the Montreal Exchange. Only th…
University study at A-J mine
A unit of Echo Bay Mines (TSE) recently awarded a research grant of about US$112,000 to the University of Alaska’s mineral industry research laboratory. The grant will support a 1-year study of rocks …
On the Level – One-industry towns have had their day
Should government be bailing out one-industry towns that inevitably run into trouble? Ontario’s Elliot Lake is a classic example. Did its founders and fathers really think its albeit large deposits of…
INSIDER TRADING (August 19, 1991)
American Barrick Resources (TSE) may have dropped its plan to merge with Newmont Mining (NYSE) of Denver, but executives within the Toronto company continue to make money in the stock market. Accordin…
Granges drops Cross Lake option
Vancouver-based Granges (TSE) recently dropped its option to earn a 60% interest in Cross Lake Minerals’ (VSE) Currie Bowman base metal property near Timmins, Ont. Cross Lake says one of the four hole…
Bema completes Norgold acquisition
The acquisition of the remaining outstanding shares of Norgold Resources has been completed by Bema Gold (TSE). Bema acquired 93% of Norgold’s outstanding shares under a takeover bid earlier this year…
Pan East extends debenture term
In order to extend the term of its loan, Pan East Resources (ASE) will amend its Series 1989 debentures. Currently payable on demand, the debentures will become payable on Aug. 31, 1992. As well, the …
WAMIC Fiesta set for Sept. 7
The Women’s Association of the Mining Industry of Canada (WAMIC) has scheduled its “South of the Border Fiesta” for Saturday, Sept. 7, at Sheehan Farms at Caledon East, Ont. The Fiesta, to be open fro…
Corporate split is proposed for Madeleine
In a bid to consolidate some of the holdings within his Toronto mining group, Patrick Sheridan is proposing to split Madeleine Mines’ (TSE) platinum and gold assets into two separate concerns. Pending…
Unlisted Trading (August 19, 1991)
Exploration programs in Manitoba and Mexico helped the share value of Canmine Resources to rebound recently. The company’s stock was in a low-high range of 17-21 cents and 40,000 shares changed hands …
TSE Short Positions (August 19, 1991)
Semi-monthly reports as of July 31, showed 21,418,054 shares of 579 issues compared with 22,733,628 shares of 571 issues on July 15. Larger individual positions included: Amax Gold 0, down 31,900; Ame…