Golden Dragon samples new property claims
Recently acquiring a 51-claim property in Summers Twp. in northern Ontario was Golden Dragon Resources (VSE). The company says the property covers a 3 1/2- mile extension of the Empire fault zone west…
News
Environmental shortcomings temporarily close Hope Brook mill
Milling operations at the Chetwynd gold mine operated by Hope Brook Gold (TSE) have been temporarily suspended. Situated near the southern coast of Newfoundland, the mine entered commercial production…
PRODUCER PRICES Metal Prices (February 13, 1989)
ALUMINUM: MW U.S. Market $1.02-$1.05 per lb. (Feb 2, 1989). ANTIMONY: New York dealer $1.00 cents -$1.03 per lb. (Jan 19, 1989). BISMUTH: New York dealer $6.75-$6.85 per lb (Jan 26, 1989). CADMIUM: Ne…
What old gold mines threw out may now be economic
Gold is found in a variety of geological settings. One of the primary sources for the precious metal growing in popularity these days is old tailings ponds. Energy, Mines and Resources Canada estimate…
Aussie platinum prospect
A platinum mine in Australia — the nation’s first — is a possibility this year. Reynolds Metals is undertaking a drilling program on the Yarawindah Brook property north of Perth and is hopeful of co…
Copper prices take a tumble
Labor problems and a mine explosion in South America, rising inventories in London Metal Exchange (LME) and New York Commodity Exchange (Comex) warehouses and backwardation on both exchanges seem to h…
City turns to Barrack for help with Cinola
As gold projects go, the Cinola deposit on Graham Island in the Queen Charlotte Islands of British Columbia is clearly the largest being developed for production in the province. Owned 100% by City Re…
TVX sells to Placer Dome 50% stake in La Coipa bet
The sale of Consolidated TVX Mining’s 50% interest in a large Chilean gold/silver project to Placer Dome (TSE) was completed recently. Placer Dome has agreed to pay $63 million cash and assume respons…
FINANCING (February 13, 1989)
VANCOUVER Quantum Res Corp. — gross proceeds rec $180,000. Safari Int’l Res — gross proceeds rec $140,000. Benton Res Ltd — 600,000 sold for gross $750,000. Davic Enterprises Inc — 450,000 sold fo…
Teck earnings up (February 13, 1989)
Higher gold production from the David Bell mine at Hemlo and increased base metal prices resulted in a significant increase in earnings for Teck Corporation (TSE) in 1988. The Vancouver-based corporat…
Gold loan for Glamis
A $10 million(US) gold loan involving about 25,000 oz has been arranged for Glamis Gold (TSE) by Gerald Metals of Stamford, Conn. Glamis says it will repay the loan, the carrying interest on which is …
Hislop bet contract let by Goldpost Res.
A contract has been let to complete a 10,000-ft underground drill program at Goldpost Resources’ (TSE) Hislop East property near Ramore in northern Ontario. The Hislop East property is straddled by th…