Belmoral reports higher income, drop in output
Net income of $1.99 million (5 per share) on revenue of $20.3 million was reported by Belmoral Mines (TSE) for the first nine months of 1988, compared with $436,000 (1 per share) on revenue of $21.5 …
News
Alberta Stock Exchange Baslen gains ground
For very different reasons International Baslen and Varna Gold were the issues which stood out in a week when volumes were otherwise relatively low. Varna was the volume leader with 856,300 shares cro…
Duration hopeful it will regain control of lost Theresa bet
While ownership of the Theresa gold property near Longlac, Ont., has been transferred to J. S. Redpath Ltd. of North Bay, Ont., the president of Duration Mines (TSE) has not given up hope of reclaimin…
Editorial Wasting our assets
Mining’s a funny business. It is based on what is unsentimentally referred to as a “wasting asset” and therein lies both the boon and the bane of the industry. It’s the blessing of the industry in t…
SMDC merger
The merger of the Saskatchewan Mining Development Corp and Eldorado Nuclear has been completed. SMDC is a provincial mining company whereas Eldorado is federally owned. Renamed Cameco, A Canadian Mini…
Wharf amalgamation is `essential’ for Dickenson
President of Toronto-based Dickenson Mines (TSE), John Kachmar says the planned amalgamation with Wharf Resources (TSE) is an essential cornerstone of his company’s future. The Wharf merger and an acq…
Placer Dome’s big cash position fuels rumours of acquisition
The sale by Placer Dome (TSE) of its interest in Falconbridge and McIntyre Mines in August boosted the company’s cash position to $764.5 million as of Sept 30. And that huge treasury has promoted spec…
Honduran Mine Boosts Earnings for American Pacific
Even though gold projects continue to dominate the mining scene, they are no longer the only game in town as evidenced by base metal producers waving healthy financial statements from operations once …
Metal Prices PRODUCER PRICES (November 07, 1988)
ALUMINUM: MW U.S. Market $1.055-$1.095 per lb. (Oct 20, 1988). ANTIMONY: New York dealer $1.05-$1.10 per lb. (Aug 25, 1988). BISMUTH: New York dealer $5.90-$6.00 per lb. (Oct 20, 1988). CADMIUM: New Y…
Hope Brook Gold’s quarterly results
After selling 41,850 oz gold from its mine in southwestern Newfoundland, Hope Brook Gold (TSE) reported net income of $2.8 million or 10 per share during the first nine months of 1988. Revenues for t…
FINANCING (November 07, 1988)
ONTARIO Montval Res — final rec iss offer 430,000 @ $1.30 per sh to net $279,000. Rave Res Inc — final rec offer 250,000 @ $1.50 per sh to gross $206,250. Turbo Res — final rec iss offer 80,000,000…
COATS Trading Features (November 07, 1988)
Several issues showed some life on the COATS system this week. Exxeter Resources saw increased volume with over half a million shares traded in the 45 -78 range. The company announced it has acquired…