Inco buys 6% stake in limestone producer
By purchasing seven million shares of Explaura Holdings (COATS), Inco Europe, a unit of Inco (TSE) will earn a 6% interest in the United Kingdom-based mining company. Through a private placement, Inco…
News
Montreal Exchange Six drills at Grevet .LThe Mid-East crisis
Trading volume during most of the week was in the range of 4.9-6.1 million shares. The general market portfolio index dropped by 39.6 points and the mining and minerals index fell by 86.8 points. At t…
Vancouver Stock Exchange Adrian, Canarc, Eurus stabilize
Whether the Vancouver Stock Indices were following gold down or just following through with last week’s drop is debatable. In any event, the Composite and Resources Indices put in dismal performances….
Copper supplies should drop by year 2000, study predicts
Supplies of copper are expected to tighten through the 1990s despite intense activity in development of new mine projects, a study by London-based Commodities Research Unit says. The tonnage from know…
Geologist acquitted of charge of littering drill-work area
A northwestern Ontario geologist who was charged with depositing debris from a drilling project on Crown land two weeks before his work permit expired in March was recently found innocent in Provincia…
Size of new C lens mystery as Audrey mulls next step
Having completed the first phase of drilling on a newly discovered massive sulphide lens at the Mobrun polymetallic mine near Rouyn- Noranda, Que., Audrey Resources (TSE) and partner Minnova (TSE) are…
Corona acquires Prime shares
As part of a recent agreement with Murray Pezim and two associates, Corona (TSE) has acquired 5.6 million shares of Prime Resources Group (VSE). Pezim, Lawrence Page and Arthur Clemiss also granted Co…
Alberta Stock Exchange Ontex up 20 cents
Shares of Ontex Resources rose 20 cents to $1.85 during the week ended Aug. 28 as investors begin to speculate on the outcome of a trial involving the company and TSE- listed Metalore Resources. Share…
U.S. REPORT New World drilling total mounts for Noranda and Crown
Total exploration drilling has reached more than 46,300 ft. in 131 holes at the New World property in Montana, project manager Noranda Exploration, a unit of Noranda (TSE), and partner Crown Butte Res…
Ronrico secures $2.5 million to bring Simkar into production
The Royal Bank of Canada has agreed to provide debt financing to help bring the Simkar gold project, 10 miles east of Val d’Or, Que., into production. The Simkar property, with proven and probable res…
U.S. REPORT FMC income drops
Net income reported by FMC Gold (NYSE) for the three months ended June 30 was US$9.9 million versus US$13.8 million in 1989. The company attributed the drop in earnings to lower gold prices and high u…
U.S. REPORT Piedmont sets records
Records for both production and earnings were set by Piedmont Mining (NASDAQ) for the first half of 1990. Net income for the six months ended June 30 was US$642,000, or US$0.04 per share on revenue of…