Alcan recycling
Major aluminum producer Alcan (TSE) reports a recent doubling of its recycling capability in the U.S. and plans to build a major recycling centre in the United Kingdom. According to Chairman David Mor…
News
Galactic to develop new mine
March has indeed come in like a lion for Galactic Resources (TSE). In the space of one week, the company announced a substantial increase in annual earnings, the sale of the bulk of its interest in a …
Granges reduces loss in 1989
A net loss of $8.1 million or 28 cents per share was reported by Granges (TSE) for 1989, compared with a 1988 net loss of $13.5 million or 61 cents per share. The company said the improvement reflects…
General News & Comment Ontario will stop issuing assay coupons
When Ontario’s new Mining Act comes into force next year, the province will stop issuing free assay coupons to licensed prospectors. The total value of the 990 coupons redeemed between April 1, 1988, …
Shamrock looking to production
An approval- in-principle has been reached between Shamrock Resources (VSE) and United States Antimony (NASDAQ) for the development of the Yellowjacket property in Lehmi Cty., Idaho. A proposed plan o…
$4 million Inco program likely at Cochenour mine
Hopes that the prolific Red Lake, Ont., gold camp will give rise to another new gold production continue to rest on the old Cochenour- Willans property, where Inco Gold, a unit of Inco Ltd. (TSE), is …
FINANCING (March 19, 1990)
Desert Sands — 800,000 offered @ 50 cents per unit. Eurogold — min 500,000 offered @ 45 cents per sh. Milan Res & Expls — 1,000,000 sold for gross $450,000. Excellon Res — min 650,000 offered @ 35…
Armistice preparing for bulk sample
Two exploration programs were undertaken by Armistice Resources (ME) at its Virginiatown, Ont., property in January, one geared toward extraction of a bulk sample and the other involving surface work….
Mercur mine helping to pioneer treatment by pressure oxidation
The Mercur mine, near this small western community, is as rich in history as in gold. Although local residents are likely aware of the mine’s colorful past, few realize that Mercur is still making his…
Coxheath has proposal to save Tangier mine
A payment proposal offered to creditors of the cash-strapped Coxheath Gold Holdings (TSE) may allow the company to recommence production at its Tangier gold mine in Nova Scotia. The terms of the propo…
U.S. Gold lessens liquidity problems
Through the sale of its 40% interest in the Hayden Hill project, U.S. Gold (NASDAQ) has lessened a liquidity crunch which had threatened to push the company into bankruptcy protection. U.S. Gold sold …
Struggling ERG hurts Pamour
A loss of $54.8 million ($4.62 per share) was reported by Pamour (TSE) for 1989, compared with a loss of $6.4 million (54 cents per share) for the previous year. The loss includes the company’s share …