Agreement signed on Andacollo
A unit of Placer Dome (TSE) recently concluded an agreement with a Chilean government mining corporation for evaluation and possible development of the Andacollo copper deposit in northern Chile. The …
News
B.C.’s mining industry reeling after $95-million loss in 1990
The fortunes of British Columbia’s mining industry continued a downward trend in 1990, with coal operations being particularly hard hit and the industry suffering an aggregate loss of $95 million for …
Operating costs up at Hemlo Gold
Hemlo Gold Mines (TSE) reported earnings of $8.6 million (10 cents per share) for the second quarter compared with $1 million for the same period last year. The 1990 income included the writedown of H…
Hemlo completes gold acquisition
The transfer of Noranda’s (TSE) gold assets to Hemlo Gold Mines (TSE) is complete. In exchange for 8.61 million of its common shares, Hemlo acquired all of Noranda’s gold assets including joint ventur…
Wheaton shares start trading
Shares of Wheaton River Minerals (TSE), the first new junior mining company to be cleared for listing on The Toronto Stock Exchange this year, began trading recently at around 43 cents. With 5.9 milli…
Falconbridge hit by metal slump
Toronto-based Falconbridge, the western world’s second largest nickel producer reported net earnings of $9.9 million in the three months ended June 30, down from $26.8 million in the same period last …
Drilling starts at Paydirt
A diamond drill program has started on the Paydirt property to test several targets outside the Paydirt deposit which contains preliminary reserves of 204,000 tons grading 0.12 oz. gold per ton. The p…
Pegasus lists on Montreal exchange
Washington-based Pegasus Gold (TSE) recently listed its common shares on the Montreal Exchange. Incorporated in British Columbia, the gold producer operates four mines in the western U.S. with a total…
FUTURES PRICES (July 29, 1991)
N.Y. Commodity Exchang Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Jul 99.80 99.00 99.25 + 0.60 Aug 99.25 99.05 99.60 Sep 99.95 99.00 99.50 + 0.85 SILVER (in US cents per oz.) Jul 4…
High copper values from Cerattepe
The 1991 drilling program by Cominco Resources International (TSE) on its 100% owned Cerattepe property in northeastern Turkey is reportedly increasing the known extent of high-grade copper mineraliza…
GSC studies Newfoundland deposits
The Geological Survey of Canada is studying the occurrence of gold and other deposits in Newfoundland’s Notre Dame Bay area. The focus is on the geochemistry of volcanogenic massive sulphides and the …
Deak International private placement (July 29, 1991)
Toronto-based Deak Inter-national Resources Holdings has entered into a private placement agreement to ac-quire 7.6 million shares of af-filiate Deak Resources (TSE) for 25 cents per share. Subject to…