Minister for mines dropped in cabinet shuffle
For the first time since 1980, Canada is without a federal minister of state for mines. The change, part of Prime Minister Brian Mulroney’s recent cabinet shuffle, has so far drawn mixed reactions fro…
News
Corona reports first consolidated earnings
Consolidated earnings of $18.8 million (12 cents per share) before unusual and extraordinary items, or $15.7 million (10 cents per share) after unusual and extraordinary items, were reported by Coron…
HudBay thriving on better metal prices, exploration success
Shipment of copper and zinc concentrates to Hudson Bay Mining & Smelting’s (TSE) aging metallurgical complex here should pick up significantly in the remaining months of 1988. And long-term supplies s…
Metal Prices PRODUCER PRICES (September 26, 1988)
ALUMINUM: MW U.S. Market $1.125-$1.215 per lb. (Sept 15, 1988). ANTIMONY: New York dealer $1.05-$1.10 per lb. (Aug 25, 1988). BISMUTH: New York dealer $6.10-$6.25 per lb. (Sept 8, 1988). CADMIUM: New …
B.C. Heap Leach Project Re-opens
Since re-opening its heap leach operation at the Union Mine near Grand Forks, B.C. in April, Sumac Ventures (VSE) produced 282.7 oz gold and 8,552.5 oz silver to early August. The company is treating …
Toronto Stock Exchange Equities dive as gold bullion crashes
The price of gold bullion breached the $400 (US)-per-oz barrier culminating a week-long freefall which erased more than $22 off its price. The price closed today at $399. Gold’s slide impacted on all …
Financing (September 26, 1988)
ONTARIO Alterio — final rec iss offer min 625,000 & max 1,250,000 @ 80 cents per unit to net min $465,000 & max $930,000. VANCOUVER Camas — gross proceeds rec $200,000. Gold Torch — gross proceeds…
Canaustra plans drilling at Flatwater
Canaustra Gold Exploration (VSE) has agreed to allow a private Newfoundland company, Eastern Minerals, earn a 50% interest in the Flatwater Pond property, located on the Baie Verte Peninsula of Newfou…
Cash-strapped Abermin sells Lara property to its partner
Strapped for cash because of problems at its Tartan Lake gold mine in Manitoba (N.M., Sept 5/88), Abermin Corp. (TSE) has been forced to sell one of its key mineral properties, the Lara project on Van…
People (September 26, 1988)
SHILOH RESOURCES — Thomas O’Connor appointed to the board of directors succeeding Mervin L. Judd who has resigned.
First gold bar for Bond Int’s
The first gold bar has been poured from the Golden Patricia gold mine owned by Bond Gold Canada, a wholly-owned affiliate of Bond International Gold (NYSE). Located west of Pickle Lake, Ont., the mine…
Investment comment Audrey Resources’ a “near-producer” with good
Speculating on a penny miner that’s punched a few holes in the ground and turned up decent widths at a respectable grade can be exhilarating. You can revel in the stock’s rising price or, conversely, …