Toronto Stock Exchange Indices (May 14, 1990)
May 8 May 7 May 4 May 3 May 2 HIGH LOW Composite “300” 3437.97 3421.51 3367.84 3346.68 3340.34 4009.47 3334.13 Metals & Minerals 3011.50 3002.77 2940.23 2922.54 2907.69 3453.06 2850.84 Integrated Mine…
News
Rea reports mixed results
Although a loss was reported for the year ended Dec. 31, Rea Gold (TSE) reached profitability in the first quarter of 1990. The company reported a loss of $2 million or $0.16 per share for the year en…
Flag assay results
The latest assays from Flag Resources’ (ASE) Wolf Lake copper-gold prospect in MacKelcan Twp., northeast of Sudbury, Ont., have yielded mixed gold results in eight of 11 holes. A couple of high-grade …
Editorial Do we need mines?
“Do we need minerals? Only if we want buildings, roads, ships, cars, airplanes, glass windows, plates, cutlery, industrial machinery, communications equipment, energy generation and transmission, and …
PEOPLE (May 14, 1990)
OREGON RESOURCES — Douglas Good appointed president succeeding Frank Baumann who has resigned; Bernard Poznanski appointed director succeeding James McDougall who has resigned.
Granges granted security for costs in Abermin lawsuit
The Supreme Court of British Columbia has ruled in favor of Granges (TSE) and others in their bid to have Abermin (TSE) post security for costs in the ongoing litigation over the Tartan Lake gold mine…
Horsham earnings drop in quarter
Horsham (TSE), which controls gold producer American Barrick Resources (TSE), reported sharply reduced earnings during the first three months of 1990. First-quarter earnings before extraordinary items…
Successful MDA programface uncertain future
Just as the exploration industry is adjusting to the sudden elimination of the Canadian Exploration Incentives Program (CEIP) earlier this year, another government program designed to stimulate explor…
Editorial `Borrowing’Tony Oklend’s boat
If only Tony Oklend could see LAC Minerals today. Who was he, you might well ask? Tony was a lonely, illiterate, Lithuanian immigrant who eked out a rugged existence trapping in the Thunder Bay area, …
Cominco Resources hits high-grade gold in Turkey
High-grade gold mineralization over significant thicknesses was encountered by Cominco Resources International (TSE) during a recent shallow drill program on two 100% owned properties in Turkey. The c…
News In Brief (May 14, 1990)
Brenwest Mining has changed its name to Ridgeway Petroleum Corp. (RGW:VSE) on a 1-new-for- 3-old share basis. Transfer agent is Montreal Trust Co.
Tensions heighten at Rio over closure of 2 mines
Indications that Rio Algom (TSE) may close its Quirke and Panel uranium mines earlier than expected has heightened tensions between the company and employees at its Elliot Lake, Ont., division. While …