Costs at White mine approach break-even
Production costs at the Arthur White mine near Red Lake, Ont., averaged $510 per oz during the first half of this year, Cambior Inc (TSE) says. Current gold prices are about $525(C). Cambior, which so…
News
FINANCING (August 22, 1988)
ONTARIO Norad — final rec iss offer 1,000,000 @ 50 cents per sh. NovaGold — final rec iss offer max 10,000 & Min 1,667 @ $1,200 per unit. McLaren — final rec iss offer min 900,000 & max 1,200,000 …
Editorial Bonus system not cause of minefatalities
There’s a disturbing pattern emerging in mine safety statistics. While lost-time accidents have shown a significant decline over the past several years, mine fatalities have not been reduced at all. I…
Golden Rose mine blamed for Noramco Mng. losses
Losses reported on Noramco Mining’s (TSE) balance sheet during the first six months of 1988 were due largely to problems at the Golden Rose mine west of Thunder Bay, Ont., the company announced recent…
Falconbridge holds 92% of McIntyre Mn.
Toronto-based Falconbridge Ltd. (TSE), completed the acquisition of 12.5 million Falconbridge common shares and 750,000 common share purchase warrants from Placer Dome Inc. (TSE), the company said rec…
News in Brief (August 22, 1988)
Robex Resources (ME) has signed an agreement, in principle, with Maufort Resources (ME) which allows Robex to buy back up to 13% of its capital share and up to 21% of the capital share of its sister c…
Breakwater earnings increase
Increased production, an improved gold grade and lower operating costs at the Cannon Mine in Washington State all joined forces to make a better bottom line for Breakwater Resources (TSE) during the f…
Midas options Tisdale claims negotiates fire-sale deal
The troubled Tisdale joint venture is getting a new partner. Midas Minerals (TSE) has completed an agreement giving the company the right to earn a 60% interest at the fire-sale price of $2 million fr…
Ronrico placement to finance Simkar gold exploration
Ronrico Explorations (VSE) of Toronto has announced a private placement to finance exploration at the company’s Simkar project at Val d’Or, Que. After spending $7 million, Ronrico holds a 50% interest…
Venturex pulls good hole on El Paraiso bet
Once again some impressive assay results have been reported from a drill program near Vernon, B.C. But this time it’s from the Top claims of Venturex Resources (VSE) and El Paraiso Resources (VSE). Th…
Letters to the Editor Supply & demand rules gold price
In a letter to the editor (N.M., July 4), one of your readers attributed the depressed price of gold to market interference by various governments. I don’t doubt that such action takes place, but feel…
INSIDER TRADES (August 15, 1988)
Augmitto — MVP Capital bought 90,000 to hold 2,825,662. Barron Hunter Hargrave — J. Hargrave sold 68,500 to hold 4,010,200. S. Hargrave sold 42,000 to hold 2,297,200. Beaver — J. Blair sold 51,000 …