March metal prices, commodity index decline
A decline in metal prices in March was partly to blame for the 0.8% drop in Scotiabank’s all-commodity price index during the month. It is the second consecutive monthly decline. Bank economist Patric…
News
Letters to the Editor Falconbridge offer “too low”: Raglan investor
Your reporting of Mr. Pugsley’s statement on New Quebec Raglan (N.M., April 10/89) was negative, probably truthful, yet poorly timed since it was just one week before Falconbridge made its offer to ac…
Cons. Silver Butte in gas exploration
Consolidated Silver Butte Mines (VSE) has begun to diversify into the petroleum and natural gas business. The company recently acquired a 10% working interest in six sections of oil and gas lands in s…
Budget blues for miners
The huge tax bite in last week’s federal budget has a bright side for the exploration industry, according to analysts at Clarkson Gordon, a Toronto chartered accountant firm. Investors may look to flo…
Toronto Stock Exchange Gold shares dive as bullion hits three-year
A stronger U.S. dollar and mounting signs that inflation is not about to take off, combined to clobber gold to a three year low of $376.50. Today’s London fix managed a small gain to $378.60. The gloo…
MSV seeks funds to bring Eastmain into production
The push is on to raise the $40 million needed to bring the Eastmain gold project in northern Quebec into production, MSV Resources (ME) reports. President Mario Caron says the directors of MSV have a…
Dolphin expands Nfld. land holdings
Three potential gold-bearing claim blocks have been added to the property inventory of Dolphin Explorations (TSE) in southwestern Newfoundland, the company reports. The Phillips Brook extension, a 46-…
Muscocho, partners boost Jerome reserves
Reserves at the Jerome property north of Sudbury, Ont., have been increased to 600,000 tons averaging 0.2 oz gold per ton. The joint venture partners exploring the old Jerome Gold mine property report…
Flanagan, Echo Bay deal
Flanagan McAdam Resources (TSE) has entered into a private placement agreement with Echo Bay Mines (TSE) whereby Echo Bay will purchase 1.6 million Flanagan shares at a price of $2.50 per share. The $…
Candol update
After spending $2.4 million last year to explore several newly acquired mineral prospects, Candol Developments (TSE) says its Bullion Pit placer property near Williams, B.C., could be ready for produc…
Former Wharf directors take home $1.3 million
Although Wharf Res. (TSE) almost doubled its net income in 1988, the company had to make substantial payments to some of its former officers. Wharf, which came under the control of Dickenson Mines (TS…
Giant Yellowknife to mine reserves of Hoyle property
Agreement has been reached between Giant Yellowknife Mines (TSE) and Falconbridge Gold (TSE) whereby the former has obtained the right to mine, subject to tonnage royalty, known gold reserves on the l…