Chevron has $8 million for Goldquest properties
The large property holdings of Goldquest Exploration (TSE) in northern Ontario’s Red Lake gold camp will soon be the focus of a major exploration effort by a new joint venture partner. The Toronto-bas…
News
Homestake production climbs
A 15% increase in gold production was achieved by Homestake Mining (NYSE) during 1988. Total output climbed to 781,458 oz which Homestake emphasized “more than offset a $10 per ounce decline in the av…
COATS Trading Features (March 13, 1989)
Downward was the general direction taken by many COATS-traded mining issues this week. Chance Mining & Exploration has settled back down to the 43 cents -48 cents range after reaching a high of 76 ce…
Obituary Ralph Mitchell
Ralph “Mitch” Mitchell, involved in moving the Sherritt Gordon plant and town from Sherridon to Lynngold in Manitoba, died recently in The Pas, Man. He was 75. Mitchell was born in Toronto on Dec 13, …
Letter to the Editor Industries promote racial understanding
I refer to your Feb 13 editorial “A tenuous connection,” in which you analyze the morality of the Bank of Nova Scotia’s loan to Minorco (Luxembourg). You point out that curtailing dealings with South …
Montreal Exchange Aur chasing Louvem
The market was full of positive news this past week, with the general index gaining more than 30 pts and the mining and minerals index jumping almost 50 pts. Daily volumes were moderate, in the range …
Aur bids $8.3 million to take over Louvem
Small Quebec gold producer Louvem Mines (TSE) is being taken over by Toronto-based Aur Resources (TSE). Aur says it will spend $8.3 million to acquire about 65% of the common shares of Louvem, which o…
Corona takeover offers extended two weeks
A 2-week extension has been announced by Corona Corp. (TSE) on its takeover offers for Dickenson Mines (TSE) and Kam-Kotia Mines (TSE). The original deadline for shareholders to respond was March 7. C…
Industry looking to extend the exploration momentum
If the Prospectors and Developers Association of Canada (PDAC) wanted to get one message across at its 1989 convention, it was that a healthy Canadian mining industry is one characterized by a vibrant…
FINANCING (March 13, 1989)
Hisway Res Corp — gross proceeds rec $270,000. Sheba Copper Mines — gross proceeds rec $316,867.08 Premier Gold Res Inc. — min 500,000 offered @ 45 cents per sh. Golden Grail Res — 650,000 offere…
N.B. confident in MDA negotiations (March 13, 1989)
Having negotiated the country’s first Mineral Development Agreement (MDA) with the federal government in 1984, the government of New Brunswick (now under Frank McKenna’s Liberals) is confident a secon…
Spot prices at a glance (March 13, 1989)
Price Week’s ($US) Change($) Gold* 393.10 + 7.00 Silver* 5.90 — 0.06 Platinum* 538.85 + 3.35 Nickel** 8.35 — 0.18 Lead** 0.27 Copper- 1.57 + 0…