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…
News
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…
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…