COATS (over-the-counter) (June 05, 1989)
The dispute between Atlantic Goldfields and Jascan Resources was successfully resolved last week with Atlantic selling its 39.7% interest in Jascan for $3.8 million. Atlantic will also sell its intere…
News
Toronto Stock Exchange Gold index firms despite falling bullion
The gold price and gold index appear to be diverging. Bullion on the second London fix dipped to $361.80 today whereas the gold and silver index continued to display resilience in light of bullion’s h…
Hydra expects cash flow
Hydra Explorations (TSE) is expecting royalty payments of about $1 million per year from its interest in the Colomac gold mine in the Northwest Territories. Owned by Neptune Resources (TSE), the Colom…
INSIDER TRADES (June 05, 1989)
Atlanta Gold — O. Tolpinrud bought 1,400 (Apr) @ $2.65 to hold 144,051. Belmoral — A. Brown sold 24,000 (Apr) @ $1.16-$1.23 to hold 184,278. F. Brown sold 2,000 (Apr) @ $1.23 to hold (amended) 13,79…
Bond restructures Australian assets
A restructuring has been completed involving Bond International Gold’s (TSE) Australian affiliates, North Kalgurli Mines (NKM) and Gold Mines of Kalgoorlie (GMK). Bond recently tendered its 40% holdin…
Cominco funds nickel smelter rehabilitation
Cominco Resources’ (TSE) wholly-owned subsidiary, Cominco American Resources, has approved funding to rehabilitate the smelter at the Glenbrook nickel facility in Riddle, Ore. Glenbrook Nickel, a 100%…
Glen Auden/Placer sign agreement
Glen Auden Resources (TSE) has signed a letter of intent giving Placer Dome (TSE) the right to earn a 51% interest in Glen Auden’s Verse Lake property near Timmins, Ont. Placer can earn its interest b…
Metal Prices (June 05, 1989)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date May 30 May 29 May 26 May 25 May 24 Copper 1696-16…
Editorial Passing grades for environmental policy
The Mining Association of Canada gets a B for its new environmental policy unveiled at the association’s recent annual meeting in Ottawa. It gets good marks for effort, but somewhat less for content. …
Queenstake’s future production will include hard rock mines
With a revamped board of directors and at least two hard rock mines on the horizon, Queenstake Resources (TSE) has resumed the practice of forecasting gold production. In the past few years the compan…
Zinc Boosts Conwest’s earnings
Conwest Exploration (TSE) is dealing in a new commodity, president and chief executive officer John Lamacraft told shareholders at the annual meeting. “It’s called zoil, that’s zinc and oil, and it’s …
Dome Mountain back on track to production
Stalled for years by disputes, arbitrations, and lawsuits, the Dome Mountain gold project near Smithers, B.C., is back on track under the terms of a new joint venture agreement involving Teeshin Resou…