Lixor acquires Orleans option
An option to acquire a 50% interest in 18 claims in Courville Twp. in northwestern Quebec has been acquired by Lixor (ME) from Ressources Orleans (ME). The option sold to Lixor was initially granted…
News
Alberta Stock Exchange Bitech is back
At last, there is some good news for the beleaguered shareholders of Bitech, which last year signed a $12-million option agreement with Equity Silver Mines. During the week ended Jan. 30, Bitech repor…
Trader ends deal
Trader Resources (TSE) has decided not to exercise its option to purchase 1.6 million shares of Ronnoco Gold Mines (COATS) at $1.25 per share. According to the vendors of the shares, Cabre Exploration…
Queries Gordex Minerals no longer trading
Can you tell me what is happening with Gordex Minerals? I notice the shares have not traded since last summer and there has been no news from the company either. R.G., Montreal, Que. Financial proble…
Entertaining ways of European metal users
Selling Canadian metals in Europe does not sound too enthralling but the personalities you meet and the meals and conversation are sometimes unforgettable. Several times a year, at about 6- to 8-week …
Editorial Looking to Elliot Lake’s future
No one likes to see an orebody come to an end, nor the hardship that imposes on the people who depend on the mines it engenders for their livelihood. But in this business, we all know that orebodies d…
Almost 30,000 oz. for Sleeping Giant
Gold production in 1989 from Aurizon Mines’ (TSE) Sleeping Giant mine in Quebec was 29,552 oz. For the fourth quarter gold output totalled 7,607 oz. from 34,652 tons of rock grading 0.19 oz. gold per …
Mazarin acquires exploration arm
A new exploration arm has been acquired by Societe d’Exploration Miniere Mazarin (ME), which wants to concentrate on development of its graphite property near Fermont, Que. Mazarin and Gestion Ressour…
Startup required partners for Muscocho
The long startup periods required to bring the Magino and Magnacon gold mines to the projected levels of operation and the depressed gold price in 1989 resulted in a substantial cash drain on the owne…
Redstone hit by high costs, low pries
The future of the Redstone nickel mine, 22 km southeast of Timmins, Ont., has been placed in jeopardy by high operating costs and deteriorating conditio ns in the world nickel market. Less than a year…
Spot prices at a glance (February 05, 1990)
Week’s Price (US) Change Gold* $417.55 +$ 3.80 Silver* $ 5.21 –$ 0.07 Platinum* $510.35 +$10.25 Nickel** $ 2.72 –$ 0.06 Lead** $ 0.32 Co…
Brunswick falters in fourth quarter
Net earnings for 1989 of $29.7 million (80 cents per share) were reported by Brunswick Mining & Smelting (TSE), compared with $31 million (87 cents per share) the previous year. Value of mineral prod…