Higher earnings but lower profit for LAC in ’89
Net earnings of US$30.5 million (31 cents per share) for 1989 on revenues of US$186 million were reported by LAC Minerals (TSE), compared with earnings of US$38.4 million (42 cents per share) in 1988 …
News
Editorial Good pay in mining
Productivity improvements in the mining industry over the past decade has proven to be a mixed blessing for its workers. According to a report from Statistics Canada, mine workers were among the highe…
Barrick chairman sees gold price rising
American Barrick Resources (TSE) expects to produce 565,000 oz. of gold in 1990 at an average cost of US$220-222 per oz., says President and Chief Operating Officer Robert Smith. While Barrick was for…
Apec has plans for ammolite
Calgary-based Apec Mining is hoping to become a major national and international ammolite gemstone supplier. Apec recently joined with Canada Northwest Energy to explore for and mine the mineral in Al…
Placer to drill McConnell property
After an assessment of the 1989 drilling program has been completed, Placer Dome (TSE) plans to drill the McConnell Creek gold property owned by Gerle Gold (VSE). Placer is earning a 60% interest in t…
Staking disputes escalate in Eskay Creek camp
Complicated and messy claim disputes are spreading like wildfire through the Eskay Creek region, north of Stewart, B.C., a rugged and remote area brought to prominence by a significant gold-base metal…
Falling commodity prices cut into Noranda earnings
Earnings for 1989 of $442 million ($2.19 per share) after preferred dividends were announced by Noranda (TSE), compared with $603 million ($3.14 per share) for the previous year. Revenue for the year …
Alberta Stock Exchange Gallery shines
Gallery Gold Mines was the most active mining stock on the Alberta Stock Exchange during the week ended Feb. 6, moving up a penny on 433,800 shares traded. The company was unable to comment on the act…
LAC to double gold output at El Indio in Chile
Two major expansion programs are being considered by LAC Minerals (TSE). At the company’s El Indio gold mine in Chile, the company is reviewing the feasibility of doubling gold production from 200,000…
Halex, William plan merger to explore base metal properties
An amalgamation is being planned between Rouyn-Noranda-based Halex Resources (ME) and William Resources, a company whose shares are not listed on any stock exchange. William Resources has interests in…
Placer to spend $1.1 million on Curator bet
In a show of confidence in the Jualin gold property owned by International Curator Resources (VSE), Placer Dome (TSE) has budgeted a further $1.1 million for exploration this year. Placer has spent ab…
FINANCING (February 12, 1990)
Romulus Res — gross proceeds rec $555,500. Bonaventure Res — gross proceeds rec $230,000. St. Jude Res — 500,000 offered @ 50 cents per sh. Silver Butte — 700,000 offered @ 65 cents per unit. Alta…