Photo (May 29, 1989)
The Geological Association of Canada presented two medals at its annual meeting in Montreal recently. From left are Paul Wojdak of the GAC’s mineral deposits division executive, W. H. Gross medal winn…
News
Belmoral looks for turnaround
The chairman of Belmoral Mines (TSE) is the first to admit 1988 was not a memorable year for his company. Kenneth Dalton, addressing shareholders at the annual meeting, said, “most of our projects hav…
Chelsea private placement
Chelsea Resources (VSE) has completed negotiations for a private placement of 2.5 million common shares priced at 50 cents per share. Lufer Corp., a company controlled by a Chelsea director, will pur…
Metal Prices (May 29, 1989)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date May 23 May 22 May 19 May 18 May 17 Copper 1617-16…
IOCC GOLD OPTIONS (May 29, 1989)
Options Open Series Volume Last Interest Aug 380 C * 576 5.50 513 Aug 390 C * 543 4.00 1,434 Aug 400 C * 362 2.30 2,574 Nov …
CANMET to license processing program
After 10 years of research, the Canada Centre for Mineral and Energy Technology (CANMET) is ready to license its new ore processing computer program. Computer Aided Mineral Processing (CAMP) will make…
Ventex options claims near Lac St. Jean
Timmins-based Ventex Energy Ltd. (VSE) has acquired the right to earn a 25% interest in 247 claims in the Lac St. Jean area of Quebec. The vendor, 133872 Canada Inc., is a private company controlled b…
Alberta Stock Exchange Volumes remain low
Investors stayed away in droves this week as the price of gold fell to a 3-year low of $359(US) per oz. As a result, placer gold explorer Integrated Resources of Edmonton, was the session’s biggest tr…
Oil and gas sustain Total Energold
First quarter financial results for Total Energold Corp. (TSE) show a net loss of $504,000 or 2 cents a share compared with a loss of $2.4 million or 10 cents a share in the comparable period of 198…
Canamax layoffs fuel merger rumor
Recently, executives at Canamax Resources (TSE) Toronto office were neither confirming nor denying a rumor that the company will be merged with Vancouver-based Canada Tungsten Mining Corp. (TSE). The …
NovaGold to sell projects
NovaGold Resources (TSE) has signed an agreement with Orex Explorations (ME) to sell its interest in the Goldenville and Cochrane Hill gold projects in Nova Scotia. Orex has the right to buy a 70% int…
Declining gold prices affect Breakwater earnings
Gold’s dismal price performance has taken its toll on the 1989 first-quarter financial results of Breakwater Resources (TSE). The company’s earnings declined to $890,000 or 3 cents per share for the …