Law DEALING WITH DEFAULT
“Sorry, but we just could not raise the money.” These or similar words often immediately precede, or are used to explain, the occurrence of an event of default under an agreement. The result that can …
News
TURNAROUND
Not one but two unmanned security huts greet visitors arriving at Placer Dome’s Endako molybdenum mine, the last one proclaiming: “All visitors report here.” It too is empty, but at least it has a tel…
Spot prices at a glance (May 01, 1989)
Price Week’s ($US) Change($) Gold* 384.40 + 1.50 Silver* 5.78 + 0.02 Platinum* 548.00 + 4.90 Nickel** 6.76 — 0.20 Lead** 0.28 + 0.20 Copper …
COATS (over the counter) Gold issues improve
Two drill rigs continue to test a gold zone on Young-Shannon Gold Mines’ Chester Twp., property situated 110 km southwest of Timmins, Ont. President Bruce Young says 50 diamond drill holes totalling 2…
50 Years Ago NEW SHAFT STARTED AT INCO’S GARSON
The International Nickel Co. announces the beginning of work on a new large- sized shaft at the Garson mine. The cost of the shaft, hoisting equipment and complementary surface plant and structures is…
Alberta Stock Exchange Baloil big trader
Despite concerns over a cooling North American economy, a number of Alberta issues made significant progress during trading this week. They include the Baloil Resources’ issue which distinguished itse…
Dominion tables new offer for Australia-based Whim
Directors of Australian gold producer Whim Creek Consolidated NL have recommended to shareholders that they accept a revised takeover offer by Dominion Mining. If the offer is approved, the two compan…
TURNAROUND MACLELLAN
The MacLellan mine, about 10 km northeast of Lynn Lake, Man., has had a bumpy road to profitability. It started producing gold in late 1986, but even by February, 1988, couldn’t make ends meet. So par…
Editorial Inco’s employee incentives
Inco’s employees have done pretty well during the past year, as well they should. The company is enjoying record profits and shareholders are receiving record dividends. It’s only fitting that the emp…
Editor’s Note SALVATION
The cover story this month relates to seemingly unsalvageable mines that, after a touch of the right technical stuff, are back in the black. LynnGold’s MacLellan mine, Teck Corp.’s Newfoundland Zinc m…
Cyprus Minerals earnings bolstered by metal prices
Strong metal prices are positively affecting the balance sheets of major mining companies such as Cyprus Minerals (NYSE). First quarter earnings jumped to $81 million(US) or $2.94 per share, compared …
Core Sack SILBAK PREMIER
The Silbak Premier silver-gold Tdeposit, 21 km north of Stewart, TB.C., has mineable, open-pit reserves of 5.9 million tonnes grading 2.16 g gold and 80.23 g silver per tonne. The Silbak Premier will …