Garnett named MILUS chairman
The new chairman of MILUS, or Mining Industry Land Use Strategy, is J.A. (Jack) Garnett. MILUS is a collective initiative of the Mining Association of Canada, the Prospectors and Developers Associatio…
News
Spirit Lake deals to fund Edwards bet
Spirit Lake Explorations (ME) of Toronto says it has finalized a flow-through share financing with Q-Vest 1989 Mining Exploration of Montreal for $225,000 at $1.85 per share. In addition, private plac…
Toronto Stock Exchange Investors take cover as CEIP killed in
Investors continued to stay out of the market today, Feb. 21, as they waited for the dust to settle on Federal Finance Minister Michael Wilson’s sixth budget. Designed to trim the deficit from $30.5 b…
Platinum producers merging interests
Two major companies operating in South Africa, Impala and Lonrho, are consolidating their platinum interests. Impala, that country’s second largest platinum producer, will swap control of its developi…
B.C.”s coal and copper star performers
The 1989 value of British Columbia’s mineral and petroleum products rose 5% from 1988 totals to reach an estimated $4.16 billion, according to figures released by Energy, Mines and Petroleum Resources…
Higher Asarco copper sales
Higher sales attributed to strong copper and zinc prices last year boosted the annual earnings of Asarco (NYSE) in 1989 to US$231.16 million or $5.50 per share, compared with $207.24 million, or $4.92…
ABM continues search for future mine reserves
Having proven up enough ore to keep its Colomac mine running for at least eight years, ABM Gold (AMEX) is under no immediate pressure to find new reserves on or outside the 32,000 acres it now control…
U.S. Report Boom in Nevada spreads to neighboring states
Mineral deposits have no respect for state boundaries. That explains why Nevada’s mining boom has spilled over into almost every western state. Precious metals are still the big attraction in neighbor…
Gold funds as of Feb. 20
MVP BGR Central Capital Net value $12.51% $6.57% $0.44 Price $11.25% $6.75% $0.37 Discount 10.07% 2.7%5 19% Value $74,511,862 $110,644,388 N/A…
Granges to fight Abermin lawsuit
A trial date of Nov. 5 has been set in the Supreme Court of British Columbia for a $17.6-million lawsuit by Abermin (TSE) against Granges (TSE). Abermin is Granges’ joint venture partner at the Tartan…
Reserve estimate announced for Eskay Creek
A long- awaited independent preliminary calculation of reserves and grade was announced by Calpine Resources (VSE) and equal partner Stikine Resources (TSE) for the 21 zone discovery on the Eskay Cree…
More production cuts by Inco
Further production changes aimed at reducing costs have been announced by nickel producer Inco (TSE). As of March 1, the lowest-grade, highest-cost mine in the company’s Ontario division, Creighton No…