Newmont’s move results in $8.8 million loss
The decision by Newmont Mining Corp. (NYSE) to move its head office from New York to Denver in 1989 generated an $8.8 million loss for the third quarter, compared to a $21.4 million profit a year earl…
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INSIDER TRADES (November 28, 1988)
Canaustra Gold — Black Hill bought 80,500 (Oct) to hold 650,631. Cliff — J. Bates sold 6,500 (Oct) to hold 187,500. Cons Norex — Graymont bought 50,400 (Oct) to hold 2,870,942. Dolphin — P. Brown …
Orex updates reserves
A detailed drilling campaign is planned by Orex Exploration (ME) for the Goldboro property in Nova Scotia; Orex is earning a 50% interest in the project from Onitap Resources (TSE). Probable and possi…
Denison to spend $1 million on Guyana gold bet
Toronto-based Denison Mines (TSE) and little-known South American Goldfields (COATS) are set to launch a $1-million exploration program for gold in Guyana, South America. The program was given the go-…
Noranda Resumes Drilling of Pacquet Project
A renewed program of diamond drilling is under way on the Pacquet project in the Baie Verte Peninsula of Newfoundland. The project is a 50/50 joint venture between Noranda Exploration and Prime Capita…
Claude awaits project study
A prefeasibility study is expected within weeks for Claude Resources’ (TSE) Seabee gold property in Saskatchewan. Being prepared by A.C.A. Howe International, a mining consulting group, the study will…
Finor drill results
Confirmation of gold mineralization on Courville Twp. property located about 20 miles northeast of Val d’Or, Que., has been reported by Finor Exploration (ME). Finor, optioning the property from Parqu…
High grade zone encountered by Pacific Trans-Ocean
Drilling has intersected high grade gold mineralization at Pacific Trans-Ocean’s (TSE) Gordon Lake property northeast of Yellowknife, N.W.T. During September 6,692 ft of drilling or 20 holes were comp…
Audrey has strong quarter as development continues
While production at the Mobrun mine near Rouyn-Noranda is on hold because of development work until July 1989, Audrey Resources (TSE) managed to strengthen its financial position recently. Revenues fo…
Franco-Nevada has improved quarter despite setbacks
Despite some market-oriented setbacks, the financial health of Toronto-based Franco-Nevada Mining (TSE) improved markedly during the second quarter of 1988. Franco-Nevada, which holds a royalty intere…
Inco shareholders to vote Dec 9 on recapitalization
The fate of a proposed recapitalization plan for Inco Ltd. (TSE) will be decided Dec 9 at a special meeting of shareholders. The $1-billion(US) recapitalization involves the payment of a special cash …
Freewest, Noranda test deeper targets
A drill hole (No 88-27) intersected 57.4 ft averaging 0.17 oz gold per ton at a vertical depth of 1,250 ft at the northeastern Ontario joint- venture Harker-Holloway project of Noranda Inc. (TSE) and …