Silver lining for Coeur d’Alene
Just over two years ago, Coeur d’Alene Mines (Amex) was struggling to survive as a silver producer. Silver is described as the “poor man’s gold” and, not surprisingly, many companies still manage to s…
News
Earnings (May 08, 1989)
Conwest Exploration (TSE) reports net earnings of $7 million in the first quarter of 1989 or 54 cents per share. That’s up from the first quarter of 1988 when net earnings were $4.3 million, or 35 ce…
INSIDER TRADES (May 08, 1989)
Borealis — R. & Ch Cox bought 101,900 (Mar.) @ $2.20, sold 16,350 @ $2.75 to hold 325,403. Colony Pacific — P. Geib bought 39,500 (Mar.) @ 95 cents to hold 303,500. Cons. Norex — Graymont Ltd. bou…
Feasibility for Donalda
The Donalda gold project near Rouyn-Noranda, Que., is to undergo a feasibility study this year following completion in August of an underground exploration program, including a mill test on a 28,000-t…
People (May 08, 1989)
RIO ALGOM — R. W. Ballmer appointed vice-chairman and chief executive officer; C. A. Macaulay, director.
Low costs key to FMC performance
By stepping up production and reducing costs at its Nevada gold mining operations, FMC Gold Company (NYSE) was able to increase its first-quarter earnings by 3% over the comparable period in 1988. The…
Lenora sells interest to American Barrick
Greater Lenora Resources (TSE) of Toronto has announced plans to sell its 35% interest in properties in northeastern Ontario to joint partner American Barrick (TSE). American Barrick will pay $1.6 mil…
Letters to the Editor Placer extraction error
We have found an error in your article entitled “Placer mines profitable despite unique problems” (N.M., Mar 27/89). You state that some 234 operations extracted 16,000 oz gold. This, in fact, should …
Metal Prices PRODUCER PRICES (May 08, 1989)
ALUMINUM: MW U.S. Market US99.00- $1.01 per lb. (Apr 27, 1989). ANTIMONY: New York dealer US95 cents -99 cents per lb. (Apr 27, 1989). BISMUTH: New York dealer $6.45-$6.60(US) per lb (Apr 27, 1989). …
PDAC welcomes 7 new directors
The Prospectors and Developers Association of Canada recently welcomed seven members to its board of directors: Ian Atkinson, Ontario Mineral Exploration Federation, Timmins, Ont.; Stanley Hawkins, Ta…
Cominco Res. looks for more than gold
Cominco Resources International (TSE), the 58.6%-owned subsidiary of Cominco Ltd. (TSE), “will be as much a base metals company as a precious metals one,” President George Tikkanen told the annual mee…
AquaGold financing
AquaGold Resources (ASE) recently raised $250,000 through CMP 1989 Resource Partnership to fund exploration on the company’s Newfoundland projects. President William MacPherson says an airborne geophy…