News

Noranda drilling Glimmer property (August 28, 1989)

Glimmer Resources (VSE) reports that drilling is currently under way on its Hislop Twp. gold claims under option to Noranda Exploration east of Timmins, Ont. The drilling is designed to provide a geol…


Corona, Prime swapping shares

Toronto-based Corona Corp. (TSE) and Murray Pezim’s west- coast Prime Resources (VSE) have agreed to swap shares. Prime will sell Corona 10 million Prime shares in exchange for two million A shares of…


Ramp nears target at Eagle River bet

An underground ramp into the main gold zone on Central Crude (TSE) and Hemlo Gold’s (TSE) Eagle River joint venture property near Wawa, Ont., will reach its objective this month. The 1,750-ft decline …


B.C. mining industry revenues reach record high

Higher base metal prices, increased sales volumes and continued productivity improvements contributed to a substantial increase in gross revenues and profits for the British Columbia mining industry i…


Montreal Exchange Legal complications

Market action heated up this summer following news of the discovery of a massive sulphide copper-zinc discovery by Aur Resources and Societe Miniere Louvem near Val d’Or, Que. Now the scene has shifte…


Production delays at Namew Lake mine

Delays in reaching full production at the Namew Lake nickel mine in northern Manitoba will result in lower than expected nickel output from the mine this year. The Namew Lake mine is 60%- owned by Hud…


Moneta reports results from Michaud project

Moneta Porcupine Mines (TSE) and Nahanni Mines (TSE) recently released interim assay results from the Michaud Twp. gold project 65 miles east of Timmins, Ont. A summer drill program on the property em…


Galactic turns tide on losses

With the Ridgeway mine in South Carolina continuing to exceed expectations, Galactic Resources (TSE) is reporting record gold production and record income from operation for its 1989 first half. Gold …


U.S. gold output in 1989 to rise to 7.4 million oz

Primary, non-placer gold production in the United States in 1989 will total an estimated 7.4 million oz, up 1.7 million oz from 1988, research company Metals Economics Group of Halifax, N.S., reports….


FINANCING (August 28, 1989)

ONTARIO Canamax Res — final rec iss offer 850,000 @ $1.50 per sh to net $1,275,000 Firesand Res — final rec iss offer 2,400,000 @ 40 cents per sh to net $600,000 VANCOUVER Ravenroc — 1,500,000 off…



Books in Review (August 28, 1989)

This is the first book to situate the Canadian mineral trade and Canada’s changing status as a resource exporter and importer within the context of the ongoing debate over strategic minerals. As such,…


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