Orofino takes loss despite Scadding bet
Increased gold production from Orofino Resources’ (TSE) Scadding project near Sudbury, Ont., couldn’t prevent the Toronto-based company from having to break out the red ink. Orofino reported a net los…
News
News in Brief (April 09, 1990)
Bay Resources (ASE) says it has reached an agreement with St. Genevieve Resources (TSE) under which the latter company will commit $150,000 by March 1, 1991, for exploration on a number of properties….
PRODUCER PRICES (April 09, 1990)
ALUMINUM: MW U.S. Market US68.50- 70.50 cents per lb. (Mar. 8, 1990). ANTIMONY: New York dealer US84-86 cents per lb. (Feb. 15, 1990). BISMUTH: New York dealer US$4.30-4.40 per lb. (Feb. 8, 1990). CAD…
Inco to spend $4.6 m at old Cochenour bet
Plans for a $4.6-million underground exploration program at the Cochenour-Willans gold mine property near Red Lake, Ont., were finally revealed by Inco Gold recently. Inco Gold, a unit of Inco (TSE), …
Trading restrictions for Coughlan
An Ontario Securities Commission tribunal recently imposed a number of trading restrictions on Terence Coughlan, former Seabright Resources president. But the OSC has yet to resolve any of the allegat…
U.S. Report Coral completes European financing
European investors have bitten off a chunk of Coral Gold (TSE) through the private placement of 950,000 shares at $2.05 per share. Net proceeds, after paying a finder’s fee of $129,875 to European fin…
U.S. Report Homestake to explore new discoveries at Lead
The Homestake mine near Lead, S.D., has produced close to 36 million oz. gold from almost continuous operations since the start of production in the late 1870s. It is small wonder then that owner Home…
Glamis gets nod for U.S. mine
Mining at a rate of 3,000 tons per day is slated to begin in early July of this year at the Alto gold property held by Glamis Gold (TSE) in Calaveras Cty., Calif. The company said a settlement was rea…
Rough ride for North American Metals
The 1989 annual report of North American Metals (TSE) reveals a far different picture of the Golden Bear project in northwestern British Columbia than was likely envisioned by Homestake Mining (NYSE) …
Eskay drill results confirm grades
The latest drill results from the Eskay Creek project north of Stewart, B.C., include more impressive high-grade gold and silver assays from the 21B deposit where operator Calpine Resources (VSE) is c…
Mining’s `Queen Bee’ has close call but still a driving force for
Had an interesting phone call recently from a petite, colorful and outstanding Canadian mining enthusiast the industry came very close to losing recently — Viola MacMillan. “Mort Brown,” she said. “I…
Steelworkers recruiting to make up lost ground
Some of Canada’s newest mines have been targeted by union organizers as the United Steelworkers of America attempts to replenish numbers lost through recent layoffs. Among them are the Holt-McDermott …