Canadian gold mines keeping costs down
In terms of cash operating costs per oz, many Canadian gold mining companies still rank among the lowest cost producers in the non- communist world. According to Consolidated Goldfields’ Gold 1989 pub…
News
Metallurgy good at Athabaska play
Initial metallurgical results from testing on drill core from the Nicholas Lake property north of Yellowknife, N.W.T., have been encouraging, Athabaska Gold Resources (VSE) says. Testing completed by …
Easing nickel prices behind lower Inco profit
Lower nickel prices during the second quarter are being blamed for the decrease in earnings at Inco Ltd. (TSE). However, few people at Inco are shedding any tears. For the period ended June 30, the co…
Royalstar to drill polymetallic bet
The 1989 exploration program by Royalstar Resources (VSE) on the Bob Creek property near Houston, B.C., will include close to 9,000 ft of drilling to further delineate three partly- defined zones of l…
Homestake’s gold output up by 27%
Second-quarter earnings for Homestake Mining Co. (NYSE) increased 9% to $20.9 million (or 22 cents a share) from $19.2 million (or 19 cents a share) in the same period last year. The gain reflects a…
Talbot Lake bet readied for drill by Golden Crescent
Golden Crescent Resources (ASE), which is earning a 49% stake in 26 exploration projects owned by Placer Dome Inc. (TSE), has begun a surface stripping program at Talbot Lake, near Geraldton, Ont. Gol…
Newmont completes start-up of No 4 mill in Carlin area
Newmont Gold Company (NYSE) has completed start-up operations at its Number 4 mill in the Carlin area of Nevada. The mill began operations June 1, one month ahead of schedule and throughput exceeded 5…
Nugget Pond deal
Bitech Corp. (VSE) and Equity Silver Mines (TSE) have agreed to modify the joint venture agreement relating to the phase one exploration program of the Nugget Pond project in Newfoundland. Under the r…
INSIDER TRADES (July 31, 1989)
Aurizon — F. Lang bought 30,000 (June) @ $26 to hold 608,763. Dauntless Dev. holds 285,758. Cane — Jonpol bought 86,000 (June, private) @ 8 cents to hold 1,000,000. Coral Gold — G. Greer holds 1,8…
Placer Dome encouraged by Mexican Hat results
Drilling by Placer Dome Inc. (TSE) on the Mexican Hat project in Arizona is returning encouraging results. The property is held under option from Oneida Resources (VSE). Results from drilling include …
$125 million offering tabled by Metall Mng.
Toronto-based Metall Mining (TSE) says it has filed a prospectus for a public offering of $125 million in convertible subordinated debentures. With an annual interest rate of 7.5%, payable semi-annual…
Denver hosts Gold Expo
The keynote speaker at Western Gold Expo, to be held in Denver, Colo., Sept 29, will be mineral economist Simon Strauss. The 2-day conference is sponsored by the Denver Gold Group, an organization dev…