Newmont Gold has record production
A $420 million(US) expansion program at its Carlin, Nev., operations is paying off for Newmont Mining’s 90% owned subsidiary Newmont Gold. Net income for the first nine months of 1988 increased to $7…
News
Amax Gold announces third quarter earnings
Amax Gold’s net earnings were $13.1 million(U.S.), or 22 per share for the 1988 third quarter compared with $11.1 million or 18 per share for the 1987 third quarter. For the first nine months of 1988…
Financing (November 14, 1988)
Ontario Roxmark Mines — up to 4,000,000 offered @ 20 per sh to net $800,000. Amanda — opt exerc on 150,000 @ 45 per sh. Agio — 600,000 shs offered @ $2.48 per unit. Athabaska Gold — 500,000 shs …
Graphite drawing an exploration crowd (November 14, 1988)
Yet another Canadian mining company has entered the search for graphite. Quebec-based junior Mazarin Inc. (TSE) plans to spend almost $1.1 million between now and next May exploring for graphite, as w…
Shareholders infuriated over Pomac amalgamation
Two weeks after being grilled by several holders of Acadia Mineral Ventures (TSE) stock at that company’s annual meeting (N.M., Oct 24/88), President Donald Smith was back in the hot seat — this time…
INSIDER TRADES (November 14, 1988)
Bitech — J. Wade bought 25,000 (Oct, private) to hold 1,100,416. First Can Gold — J. Hahn sold 1,000,000 (Sept) to hold 41,413. Flagship — Moss Res sold 300,000 (Sept, private) to hold nil. Franco-…
Second Saskatchewan gold mine
This province’s second gold mine, just a stone’s throw away from the first, is up and running. Jolu, owned 30% by Corona Corp. (TSE) and 70% by International Mahogany Corp. (VSE), is in the tune-up ph…
Newmont declares quarterly dividend
The board of directors of Denver- based Newmont Mining recently declared a regular quarterly dividend of 15 per share of common stock, payable Dec 9 to shareholders of record at the close of business…
Editorial Tomorrow’s leaders
Thomas Meyer wants someday to be a mine manager and Craig Bournes wants to study rock mechanics. The two second- year students at the University of Toronto will likely attain those goals and the minin…
Westmin/Nexus exploration tunnel on schedule
The exploration tunnel at the Debbie gold project on Vancouver Island is proceeding “on schedule and on budget” say partners Westmin Resources (TSE) and Nexus Resource Corp. (TSE). Designed to access …
Monique financing (November 14, 1988)
A financing to allow Monique Exploration (ME), formerly Monicor Exploration, to increase its interest in the Monique gold property east of Val d’Or, Que., is being arranged by the company. A prelimina…
Skukum, Berglynn cut wide sections, good grade
Several high grade drill hole intersections were reported by 50/50 partners, Skukum Gold (VSE) and Berglynn Resources (VSE) from the newly discovered Goddell Gully structure on their joint-ventured pr…