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…
News
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…
Equity Silver looks for new reserves
Having achieved its primary objective of efficient, low cost production at its silver/copper/gold mine near Houston, B.C., Equity Silver Mines (TSE) is turning its attention to the search for future o…
South Atlantic, Union Mines strike deal to merge
A deal has been completed which will merge a subsidiary of South Atlantic Ventures (VSE) with a subsidiary of Union Mines to form a new company called Union Copper. Atlantic will remain the sole share…
Leading investors provide seed capital to McNickel
An interesting cross-section of mining industry movers and shakers have put up seed capital funding for recently-created McNickel Inc. (COATS), which is poised to start drilling this June on its coppe…
Earnings Report (May 15, 1989)
Net first-quarter earnings for LAC Minerals (TSE) were $7.1 million or 8 cents per share. Last year, first- quarter earnings were $8 million or 9 cents per share. Revenue was $42.4 million compared …
Gold, silver Hecla’s `bread and butter’
Diversification into non-metallics remains a key ingredient in Hecla Mining’s (NYSE) current business strategy but the company’s “bread and butter” business is still gold and silver. That probably won…
Arctic Gold drill results
Arctic Gold and Platinum has completed a 12-hole, 5,700-ft diamond drill program on its property at Big Athapapuskow Lake near Flin Flon, Man. The samples have been sent for assaying. Arctic is a priv…
Bitech ups Nugget Pond gold reserves
Toronto-based Bitech Energy Resources (ASE) has increased the geological reserve estimate for its Nugget Pond gold property in Newfoundland. This represents the second reserve increase the company has…
News in Brief (May 15, 1989)
Strike Minerals (COATS) plans to resume work on its Baden Twp., Ont., gold properties as soon as road conditions permit. Two zones are to be studied. The first is a 100-ft wide carbonated zone that ha…
Spot prices at a glance (May 15, 1989)
Price Week’s ($US) Change($) Gold* 378.10 +1.60 Silver* 5.67 +0.03 Platinum* 533.90 –0.60 Nickel** 6.40 –0.14 Lead** 0.29 +0.01 Copper 1.29 –0.05 Zi…
Coxheath Gold mine to resume production
Full-scale production will resume at Coxheath Gold’s (TSE) Tangier mine in Nova Scotia now that the company has completed modifications to improve mill recovery rates. Shareholders were told at Coxhea…