Writedowns pound LAC, Bond
Consolidated earnings of US$20.3 million (17 cents per share) were reported by LAC Minerals (TSE) for 1990, but after a write-down of its mining interests and investments, the company reported a net l…
News
Odds ‘n’ Sods: War hero died prospecting in Red Lake area
Chistopher O’Kelly, who won the Victoria Cross at Passchendale in October, 1917, and the Military Cross at Vimy Ridge in April, 1917, became a prospector in 1922. He came to Red Lake, Ont., in October…
Corona narrows focus with flurry of selloffs
VANCOUVER The share price of Corona (TSE) has strengthened modestly in recent weeks as the company continues efforts to divest itself of non-core assets in order to reduce debt and move ahead with its…
Santa Rosa on ‘fast track’ says operator Greenstone
To generate rapid cash flow, Greenstone Resources (TSE) is putting its 49% owned Santa Rosa gold project in Panama on the “fast track” to production, shareholders were told at the annual meeting. Sant…
Kemess drilling cuts wide values
Drilling on the South Kemess project continues to expand the area of mineralization with assays from all the holes in the recent winter program intersecting wide copper-gold values. The South Kemess p…
Loki reports reserves for Brewery Creek project
Results from an initial reserve study on the Brewery Creek project were released by Loki Gold (VSE), a juniopr holding an option to earn a 40% working interest in the Yukon gold project from a unit of…
COATS (over-the-counter): Windy raises funds
Bull market sentiment evident on the major exchanges failed to lift the over-the-counter market out of the doldrums in the week ended Feb. 12. Total weekly volume remained in the 5-million range as in…
Denison, Potacan in default on potash mine loan payment
Denison Mines (TSE) is attempting to persuade its lead bankers to reschedule payments on a US$209.4-million loan arranged to finance development of the company’s potash mine in New Brunswick. After fa…
Startup problems at Oracle Ridge
Problems with the installation of the ball mill are continuing to delay startup at the Oracle Ridge project near Tucson, Ariz. Oracle Ridge is a partnership between South Atlantic Ventures (VSE) with …
COATS (over-the-counter) Golden Hope up 10 cents
Speculating on the results of a 20,000-ft. drilling program on the Bellechasse property southeast of Quebec City, investors sent shares of Golden Hope Mines up 10 cents to $1.10 on a volume of 97,137 …
Alberta Stock Exchange Golconda active (February 11, 1991)
Shares of Golconda Resources rose 5 cents to 24 cents in the week ended Feb. 5 after the company finalized an agreement to acquire a gold property in Oregon. Golconda can earn a 100% interest in the G…
Letter to the editor Legendary animals help to locate ore
I was interested and amused by the story of a moose and its ability to find gold-bearing rocks, as related by Hugh Coulson in his letter (Dec. 31/90). I have also read with interest Harris Hanson’s re…