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…
News
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…
Capital spending booming as Sudbury mines come open
Although a recent drop in the market price of nickel on the London Metal Exchange has prompted cost-cutting action by two of Canada’s nickel producers (T.N.M., Jan. 29/90) big capital expenditure prog…
Charges dropped in fatal cave-in at Belmoral mine
Charges against Belmoral Mines (TSE) related to a mining accident 10 years ago at Val d’Or, Que., will not be pursued by the Province of Quebec, the company reports. The May, 1980, cave-in killed eigh…
Abcourt-Barvue closed
Citing low silver prices, decreasing grades and high costs, Abcourt Mines (ME) says it will close its Abcourt-Barvue silver mine in Quebec at the end of March. A major operating cost was incurred from…
Gold funds as of Jan 30
MVP BGR Central Capital Net value $12.53 $6.44 $0.44 Price $11.75 $7.00 $0.40 Discount 6.23% 8.7% 9% Value $74,596,963 $108,36…
Moss, Power merge
An amalgamation agreement has been signed between Moss Resources (ME) and Power Explorations (TSE) to form Moss-Power Resources (TSE). Under the terms of the agreement, which requires shareholder appr…
LAC gets good values on Jonpol bet
Good grades and widths are being confirmed by underground drilling on the Garrison Twp. gold project owned by Jonpol Explorations (TSE) and T & H Resources (TSE) in northeastern Ontario. The property,…
Bunker Hill surpasses 2,000 tons per day
At a time when many other base metal producers are paring back production or closing operations outright, Bunker Hill Mining (TSE) is continuing efforts to increase throughput. Production at the compa…