Northern shareholders sue Canamax
A group of Alberta-based shareholders of Northern Minerals (TSE) who lost a small fortune after the company ran into financial difficulties two years ago, are suing Northern and former joint venture p…
News
PRODUCER PRICES (March 12, 1990)
ALUMINUM: MW U.S. Market US67.50- 70.00cents per lb. (Mar. 1, 1990). ANTIMONY: New York dealer US84-86cents per lb. (Feb. 15, 1990). BISMUTH: New York dealer US$4.30-4.40 per lb. (Feb. 8, 1990). CADMI…
Ottawa puts an end to CEIP grant scheme, flow-through still in
for exploration Dismemberment of the Canadian Exploration Incentive Program (CEIP) by the federal government in its 1990 budget announcement follows a year in which the national financing scheme for g…
Substitution trends in Steel industry
An economic analysis of general trends determining to what extent the reduction in steel intensity in the industrialized countries is ascribed to the substitution of steel for other materials, such as…
Long Range busy on Newfoundland claims
After raising $525,000 in its first public share offering, Long Range Resources (ASE) is gearing up to explore several gold properties in Newfoundland this spring. The main focus of this year’s work w…
Cash flows for Cheni
Gold and silver miner Cheni Gold Mines (TSE) reported net earnings for the year ended Dec. 31 of $4 million, or 36 cents per share, on revenues of $26.7 million. Since 1989 marks the first year of pro…
Gold production up, net income down
Although gold production was up 25.5% over last year, net income for Coeur d’Alene Mines (AMEX) dropped. The company reported net earnings for the year ended Dec. 31 of US$9.4 million (or US94 cents p…
FINANCING (March 12, 1990)
Brightwork Res — 600,000 sold for gross $330,000. Krigold Res — 650,000 offered @ per unit. Gold Summit Mines — gross proceeds rec $280,000. Int’l Viking — 800,000 offered @ 60 cents per sh. Ameri…
Montreal Exchange Market gains
Trading activity related to resource issues turned positive for the week ended March 6, with the mining and mineral index gaining 93.5 points. The general market portfolio index also shone, closing wi…
Becker, Banting still busy after decades in business
At an age when most of their contemporaries are living off their pensions, Todson Becker, 80, and partner Howard Banting, 72, are still doing deals and making a living from the exploration business. F…
Newfields funding cancelled
A financing plan among Newfields Minerals (TSE), St. Genevieve Resources (TSE), and private investors, involving proceeds of $1.25 million for Newfields, has been cancelled. In addition, the 1- for-4-…
Intense exploration activity at Eskay Creek during 1989 provides
clearer picture of deposit…