Montreal Exchange: Volume slackens
Investors shied away from the market during the holiday-shortened week ended April 17; daily trading volumes ranged between a puny 3.1 million and 5.2 million shares. Key indicators showed a negative …
News
Barringer, Accurassay combine assay services
Two assaying companies, Barringer Laboratories and Accurassay Laboratories, have merged their services to create one continent-wide organization. Barringer has several labs in mining centres across No…
FUTURES PRICES; New contract at David Bell hikes wages by 22%
Management and union workers at the David Bell Mine at Hemlo, Ont., have signed a 3-year contract agreement that will increase wages by about 22%. The agreement, approved by 80% of local 9165 of the U…
Correction (April 23, 1990)
A preliminary reserve estimate of 800,000 tons grading 0.177 oz. gold (uncut) and 12.63 oz. silver is reported by Biron Bay Resources (ASE) for the company’s Summit gold project in New Mexico. Incorre…
Quebec to study mining fatalities
The Quebec government has announced the formation of a committee to investigate mining accidents in the province. Focusing on the Abitibi or northwest region, the committee will report on the reasons …
LAC cancels expansion plan for Milton quarry
LAC Minerals (TSE) has decided not to proceed with expansion of its limestone aggregates operation at Milton, Ont. The quarry has been a source of revenue for nearly 30 years, but demand from the Toro…
Homestake tops million ounces
Gold producer Homestake Mining (NYSE) exceeded the million- ounce mark in 1989 for the first time in its 114-year history. The company was also able to lower its cash production costs but it also repo…
Metal Prices (April 23, 1990)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Apr. 17 Apr. 16 Apr. 13 Apr. 12 Apr. 11 Copper 1643-1648 — HOLIDAY — 1…
LAC to spend $34 million at El Indio gold mine in Chile
With a broader platform of gold projects and mines to build upon, LAC Minerals (TSE) is set to launch a major exploration effort this year designed to bolster its ore reserves for the future. Last yea…
Goldstake tailings get EPA approval
The Environmental Protection Agency (EPA) has given the go- ahead for production at Goldstake Exploration’s Whitewood Creek tailings project in South Dakota. “Mining would be allowed subject to the re…
Agnico offering
Today’s low gold price hasn’t dampened the enthusiasm of Agnico-Eagle Mines (TSE) to try to raise funds. The gold producer has approved a preliminary prospectus for a proposed offering of units (share…
Heenan Senlac assets sold to Laurasia
Despite objections from at least two shareholders, a resolution concerning the sale of all assets of Heenan Senlac Resources (TSE) was recently passed at a special meeting of shareholders. As part of …