Barrick gold output at quarterly record
Record gold production, earnings and cash flow were reported by American Barrick Resources (TSE) for the first quarter of 1990. Net income increased to US$13.1 million (10 cents per share) on a fully …
News
Quarterly loss for Sherritt
The balance sheet of Sherritt Gordon (TSE) tumbled into the red during the first quarter of the year. The metal refiner and fertilizer producer recorded a net loss of almost $2 million for the 3-month…
U.S. Report Homestaker doubles first-quarter profit
San Francisco-based Homestake Mining (NYSE) reports increased first-quarter net income of $13.2 million, or 13 cents per share, almost double last year’s first-quarter earnings of $7.1 million, or 7 c…
Former DRX head files lawsuit
Robert Clarke, former president of DRX (NASDAQ), has filed a lawsuit seeking to invalidate the election of a slate of directors at the company’s recent shareholder meeting in Delaware,. DRX is a preci…
Rio Algom wrestles with low-grade N.S. tin mine
After reporting reduced annual earnings of $73.1 million in 1989, Rio Algom (TSE) is preparing for what could well turn out to be another lacklustre year in its profit picture. The company was hit har…
Toronto Stock Exchange Market free fall ends as Goodman ties up (April 30, 1990)
After a week long free fall caused by sky high interest rates and falling profits, the Toronto market finally recovered a small amount of lost ground today, April 25. But investors who are obviously t…
Obituary John McAdam; the Scotsman of Chibougamau
John (Jack) McAdam, a prospector and mine developer active in the Canadian mining industry since the early 1950s, died suddenly April 19. He was 64. .”Everyone feels it’s like a loss in the family,” s…
MinVen selling mine interest
Securities firm Burns Fry of Toronto has been retained by MinVen Gold (TSE) to help in the sale of the latter’s one-third interest in the Golden Reward gold mine in South Dakota. MinVen announced in M…
Hardrock, Geraldton, Ferau joint ventures
Three separate joint venture agreements have been completed by Hardrock Extension (TSE), Geraldton Longlac Gold (COATS) and Ferau Resources (COATS). In the first agreement, Hardrock’s 17.5% interest i…
Cambior looks beyond North America
In its first major exploration project outside North America, Cambior (TSE) is negotiating an agreement involving gold property in Indonesia. Cambior, based in Val d’Or, Que., says it has reached an u…
Lower zinc prices cut into Brunswick earnings
Despite record zinc recoveries from Brunswick Mining and Smelting (TSE) No. 12 mine near Bathurst, N.B., lower zinc prices have slashed the company’s first quarter earnings by 60% from last year’s fig…
China searches for minerals
China plans to increase its prospecting and exploration activities. The Ministry of Geology and Mineral Resources hopes to locate new reserves that amount to 13-15% of the present total and double its…