Metal Snips (June 20, 1988)
Copper wire rod production in the U.S. reached an estimated 1.6 million tonnes in 1987, the highest level so far during the current decade, says Copper Studies, the monthly periodical for the copper i…
News
Seabright sinking
Operations at the Beaver Dam and Forest Hill gold mines, purchased by Western Mining Corp. late last year, are well below original expectations. Located in Nova Scotia, the properties were developed b…
Grab Samples (June 20, 1988)
Senior management at Lac Minerals is remarkably youthful — the average age of those holding the seven top management positions early this year was 49 — but that hasn’t prevented a couple of key pers…
PRODUCER PRICES (June 20, 1988)
ALUMINUM: MW U.S. Market $1.26-$1.32 per lb. (June 2, 1988). ANTIMONY: New York dealer $0.98-$1.02 per lb. (June 9, 1988). BISMUTH: New York dealer $5.55-$5.70 per lb. (May 12, 1988). CADMIUM: New Yor…
FINANCING (June 20, 1988)
ONTARIO Golden Penguin — final rec iss offer 1,000,000 @ $1.60 per sh. Home Lake — final rec iss offer 500,000 @ $1 per sh. VANCOUVER Armanda Gold — gross proceeds rec $165,000. Rat Res — gross pr…
Aur reports decrease in first half income
On schedule to begin production in September at its wholly- owned Kierens project at Val d’Or, Que., Aur Resources (TSE) of Toronto reported a drop in first half earnings. Aur reported net earnings of…
News in Brief (June 20, 1988)
Playing a much more aggressive role in the Vancouver market, Homestake Mining recently concluded option agreements with McConnell-Peel Resources (VSE) and Sheba Copper Mines. The agreements, which cov…
People (June 20, 1988)
Quartz Mountain Gold Corp. — David S. Jennings appointed president and chief executive officer.
Sikaman, Centenary in joint venture
A joint venture agreement has been entered into by Sikaman Gold Resources (TSE) and Centenary International Mining of Australia to develop a base metal property in northwest Australia. Sikaman may ear…
Kiena, Sigma approve merger with Placer
Shareholders of Kiena Gold Mines (TSE) and Sigma Mines (TSE) have approved merging with Placer Dome. Sigma shareholders voted 94% in favor while Kiena shareholders voted 89% in favor at annual and spe…
Magnacon returns best hole
Having found a financial backer in Edmonton-based Echo Bay Mines (TSE), Flanagan McAdam Resources (TSE) considers itself in good shape for what should be a pivotal year in the company’s history. Under…
Mining industry thrown an unexpected lifeline by Ottawa
If mining observers were staring into their crystal balls last October and predicting the demise of many junior sector companies, some recent developments are forcing the pessimists to take another lo…