Pegasus reports loss of 1990
Non-recurring charges totalling US$53.1 million during 1990 pushed year-end results into the red for Pegasus Gold (TSE). The company reported a loss of US$38.2 million for the year compared with earni…
News
New World preliminary reserves
A breakdown of total preliminary reserves (T.N.M., Feb. 18/91) for five deposits of the New World gold-silver-copper project in Montana of Crown Butte Resources (TSE) and Noranda (TSE) should have app…
News In Brief New China Resources
New China Resources Ltd. (NEC:VSE) has changed its name to Sino Pac International Investments Inc. with no consolidation of capital. The transfer agent is Montreal Trust. The new company has no furthe…
Toronto Stock Exchange Dividend sparks Rio Algom, as budget
A pro-business budget that ignored the mining sector failed to ignite the kind of activity that investors might have hoped for during the week ended Feb. 26. As allied troops moved in to take out Iraq…
FUTURES PRICES (March 04, 1991)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Mar 114.00 112.25 112.50 + 2.45 Apr 111.00 110.20 110.70 + 2.50 May 110.10 108.60 108.90 SILVER (in US cents per …
Environmental costs cut Asarco’s profit
Fourth-quarter net earnings of US$3.7 million (10cents per share) were reported by Asarco (NYSE), a 94% drop from $59.1 million ($1.42 per share) reported in the same period of 1989. Sales of products…
LETTERS TO THE EDITOR Parys Mountain project revisited
Your story “Anglesey’s plans for Parys holds historical significance” (T.N.M., Jan. 21/91) was of much interest. It may be of further interest to your readers to learn about the history of the Parys M…
Mature markets hurt selenium growth
The established end-use markets for selenium are mature and no new major applications are foreseeable, according to research company Roskill of London. However, the firm expects demand growth to conti…
Alaskan mineral revenue doubles
The value of mineral production in Alaska for 1990 jumped to US$534 million in 1990, up substantially from the US$277 million reported in 1989. The increase was primarily caused by a jump in base meta…
Inco fatality investigated
An investigation into what caused the rock fall that killed a 25-year-old miner Feb. 17 at Inco’s (TSE) Shebandowan, Ont., copper-nickel mine, is under way. It took a 12-man work crew working around t…
Renabie mine to close this year
Stung by weak gold prices and high operating costs, the Renabie gold mine near Wawa, Ont., will shut down its stopes permanently this year, says owner Renabie Gold Mines, a subsidiary of Corona (TSE)….
Hollinger testing manganese sample
Shipment of an 8,000-tonne test sample of manganese ore to a ferro2Dmanganese furnace near Montreal has been completed, Hollinger North Shore Exploration reported. Hollinger, a unit of La Fosse Platin…