Minnova, Kerr hit by Lac Shortt writedown
A $10 million writedown on the carrying value of the Lac Shortt gold mine in northwestern Quebec resulted in a $589,000 third-quarter loss for Kerr Addison Mines (TSE) compared with earnings of $5.6 m…
News
Inspiration’s revenue up, earnings down
Strong copper prices and higher production from the Namew Lake operation in Manitoba failed to improve the financial fortunes of New York-based Inspiration Resources (NYSE) and wholly owned subsidiary…
Copper-gold reserves jump at Expo property deposit
An independent engineering report from Steffen, Robinson, Kirsten has increased the preliminary reserves of the Expo property’s Hushamu deposit to 456 million tons grading 0.26% copper and 0.01 oz. go…
U.S. REPORT Explorers shun recent sale of Minnesota mineral leases
Minnesota has been left out in the cold as exploration gears up in the Rhinelander-Ladysmith greenstone belt of neighboring Wisconsin. Although Minnesota put thousands of mineral leases up for sale du…
Letters to the editor Managers must be masters of their trade
In reply to Douglas Smith’s letter (T.N.M., Oct. 15/90) on mine management, I would like to note that metallurgists, maintenance engineers and others have at times made very good mine managers. Indeed…
MinVen Gold refinances
The president of MinVen Gold (TSE) recently announced details of plans to refinance amounts outstanding under its US$14.5 million bank line of credit. The company’s principal lender, Citibank, agreed …
Mexico opens door to foreign investors
Foreign investors may be allowed to control 100% of a mining concession in Mexico for up to 12 years after Dec. 10 when the country’s new mining regulations goes into effect. The regulations were issu…
GOLDFUNDS2 (November 05, 1990)
MVP BGR Central Capital Net value $10.01 $5.54 $0.28 Price $ 9.25 $5.125 $0.14 Discount 7.59% 7.5% 50.0% Value $59,611,946 $86,224,538 N/A…
Giant increases quarterly output
Consolidated earnings of $923,000 were reported by Giant Yellowknife Mines (TSE) for the first nine months of 1990, compared with $2.9 million for the same period last year. During the third quarter, …
IOCC GOLD OPTIONS (November 05, 1990)
Options Open Series Volume Last Interest Nov. 370 C 190 10.10 649 Nov. 380 C 174 5.00 1,053 Nov. 390 C 672 3.40 1,861 Nov. 430 C 200 0.80 3,556 Nov. 460 C 2,200 0.45 3,825 Feb. 420 C 192 6.20 1,160 Fe…
U.S. REPORT Denton-Rawhide to produce 80,000 oz. annually
The Denton- Rawhide mine is named after the town of Rawhide, a turn-of-the- century Nevada boom town which at its peak had over 10,000 inhabitants. The real money was likely made in the brothels and b…
EDITORIAL PAGE Exploration needs renewed commitment
Difficult times call for a renewed commitment to exploration. From a public policy point of view, any hope of maintaining a strong mining industry requires finding the deposits that will be mined tomo…