Mascot reports operating profit
The Nickel Plate mine of Mascot Gold Mines (TSE) reported an operating profit of $8.3 million for the quarter ended March 31. During that period, Mascot paid off $10 million of its gold loan, equivale…
News
Cadmium a player in heated market
Firmness in the market for cadmium is being sustained by strong demand from the makers of nickel- cadmium batteries, Roskill of London reports in a new study on the metal. In the longer term, however,…
Galactic at work on new mines as Summitville output goes up
With production expected to begin at two new U.S. gold mines, 1988 will be a busy year for Vancouver-based Galactic Resources (TSE). As the company attempts to establish itself as a major gold produce…
Investment Comment Sulphurets makes Newhawk a buy
While fears of rising inflation and interest rates means that investment opportunities among Canadian gold stocks have been few and far between, the outlook for the price of gold appears to be good. A…
Amer. Reserve on ME
Recently listed for trading on the Montreal Exchange was American Reserve Mining (symbol AMI), a company incorporated in 1980 in British Columbia under a different name. The current name came into bei…
Musto subsidiary near bankruptcy
A U.S. subsidiary of Musto Explorations (TSE) may have to file for bankruptcy. St. George Mining’s Apex project in Utah has been shut down since Sept 1, 1987, and the company is currently seeking reli…
Redfern flow-through
Redfern Resources (VSE) has agreed to issue 400,000 flow-through shares to NIM Resource — 1988 and Co. Ltd Partnership at a price of 95 cents per share. . T The company has also agreed to offer 35…
Metal Snips (June 06, 1988)
A new $1-billion aluminum smelter to be built by a consortium of Japanese, European and North American firms is in the works for Quebec, according to the Quebec provincial government. The site has not…
Training conference
A training conference titled TRAM XV (Training Resources Applied to Mining) is scheduled for Aug 7-10 at West Virginia University’s Evansvale campus in Morgantown, W. Va. Delegates to the conference, …
Omni leasing Venus mill to process Skukum ore
By leasing the former Venus mill from an affiliate, Omni Resources (VSE) hopes to have its Skukum Creek gold property in production later this summer. The mill was previously leased from United Keno H…
Lower silver prices during first quarter cut Agnico’ income
Despite an improved operating performance at Agnico-Eagle Mines’ (TSE) gold division, depressed silver prices and higher operating costs, put a slight damper on the company’s first quarter results. Wh…
Royex reports 2nd-quarter income of $1.2 million
Net income of $1.2 million before unusual items and $3.4 million (4 cents per share) after unusual items was reported by Royex Gold Mining (TSE) for the second quarter ending March 31. For the same pe…