While others struggle Corona doubles earnings
At a time when high interest rates and the strong Canadian dollar are sending corporate profits on a downhill slide, Corona (TSE) has managed to buck the trend, doubling its first-quarter earnings to …
News
Claude awaits final feasibility for Seabee bet
Results of an underground exploration program on the Seabee gold deposit in northern Saskatchewan have been incorporated in an updated reserve report which will form part of the soon-to-be-completed f…
Placer Dome sells oil and gas unit
Oil and gas operations owned by Placer Dome (TSE) in the U.S. will be sold to the Prairie Producing group of companies of Houston, Tex., a subsidiary of Unocal Corp. of Los Angeles. The international …
U.S.Report Asarco enhances expansion program of copper works
An enhanced US$350 million program to expand and modernize copper production facilities has been announced by Asarco (NYSE). Additional expenditures at the Ray mine in Arizona and the El Paso smelter …
OBITUARY (May 14, 1990)
Donald Hurd, a well-known prospector, died in Kirkland Lake, Ont., May 5. He was a member of both the Prospectors and Developers Association and the Canadian Institute of Mining and Metallurgy. Born i…
U.S.Report South Dakota mining under renewed attack
Now that the mining-initiated 2-year moratorium on new mine development is law in South Dakota, the mining industry’s foes are at it again. Environmental groups are gathering support for a statewide i…
Editorial Selling gold is a short-term solution
The Canadian government has sold almost six million ounces of gold since the end of 1979 when John Crosbie, as finance minister, initiated the policy saying it would help reduce Canada’s deficit. Sinc…
Higher gold production for LAC in 1st quarter
Increased gold production and lower net earnings have been reported by Toronto-based LAC Minerals (TSE) for the first quarter of 1990, reflecting the consolidation of 65% owned Bond International Gold…
London Metal Exchange (May 14, 1990)
Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date May 8 May 7 May 4 May 3 May 2 Copper 1660-1665 N/A 1630-1635 1720-1725 1695-1700 Lead 485-487 N/A 487-489 …
Northair to earn 50% of Wildrose
A work program operated by Northair Mines (TSE) is slated to begin this summer on a Nevada property covering two square miles adjacent to the Rosebud gold discovery held by Equinox Resources (TSE) and…
Minieres due Nord seek funds for Matagami area exploration
Exploration Miniere du Nord (ME) says it is planning a rights offering to finance exploration on its Lozeau and Isle-Dieu properties east of Matagami Lake, Que. The Amos, Que., company owns about 3,20…
Malartic mill near completion at Congress gold project
Construction of the mill at the Congress gold mine project in Arizona is 95% complete and the first gold should be poured by about the first of July, Marc Henderson, president of Malartic Hygrade Gold…