Oneida hits
Drilling by Oneida Resources (VSE) on the company’s Mexican Hat gold property has returned an exceptional hole of 285 ft grading 0.203 oz gold per ton. The assay cut to one oz was 0.096 oz gold per to…
News
Asarco earns $68.6 million (US) in first quarter
A partnership is being formed by Montana Resources and Asarco Inc. to own the former’s Montana copper-mining business. Asarco will purchase a 49.9% interest in the partnership, with Montana Resource…
Barrick could be bidder in future Newmont auction
Nothing if not ambitious, American Barrick Resources (TSE) is closely monitoring a takeover battle involving two of the world’s largest gold producers. If, as seems likely, Minerals and Resources Corp…
Gold recovery tests continue on tailings of Manitou mill
Testing continues in an attempt to resolve differences in the findings of two research facilities working with material from the Manitou mill tailings near Val d’Or, Que. Operator of the project is a …
Montreal Exchange St. Genevieve popular
Back trading again on the ME after more than a 2-month absence are Louvem Mines and its controlling shareholder St. Genevieve Resources. Investors keyed on the latter company in particular, trading 60…
CMP raises $80 million
Canadian government estimates of mineral exploration expenditures ranging from $700-$900 million in 1989 are overly optimistic, the president of a major Canadian flow-through fund says. Jean-Guy Masse…
Audrey on schedule with Mobrun mill
When Audrey Resources (TSE) brought its 70%-owned Mobrun polymetallic mine into production two years ago, there were fears that the company would have trouble living up to the terms of a custom millin…
Agnico completes sale of real estate sector
Toronto-based Agnico-Eagle Mines (TSE) recently completed the sale of its real estate division to Ontario developer Iona Corporation for $42.8 million. Net proceeds from the sale after repayment of mo…
Letterrs to the Editor QPX Minerals hasn’t lowered expectations
We wish to make some corrections to your article on QPX Minerals Inc. (N.M. April 17/89). The Main Zone, not the West Zone as stated in your article, is the subject of the recent drilling and feasibil…
Editorial Rock mechanics research should be put to use
Governments in Canada have the power to give mining companies the right to develop the country’s mineral resources. They also have the responsibility of making sure companies use the best available te…
Uranium Resources posts profit despite prices
The profits of many North American uranium producers are being squeezed by low metal prices, but first-quarter results for Uranium Resources (NASDAQ) tell a different story. Net income was $2.3 millio…
Judge’s retirement could trigger new Hemlo hearing
The retirement of a Supreme Court of Canada judge could result in another appeal hearing in the ownership dispute over the Page- Williams gold mine in the Hemlo area of northern Ontario. Justice Willi…