Phoenix srengthens ’87 position to $4.9 million
The sale of a 50% interest in the Bateman, Twp. project at Red Lake, Ont., strengthened Phoenix Gold Mines’ (COATS) 1987 cash position, the company said recently. After selling a 43% interest in the j…
News
New Corona combines companies of Royex group
Canada’s newest major mining company, Corona Corp., is an amalgamation of five Royex-Corona firms whose total estimated gold output this year and in 1989 will put it among the top three gold producers…
Good assay results at Pan East/Gunnar joint ventre
Some very encouraging assay results were received this week from two holes put down by joint venture partners Pan East Resources (ASE), Petroment Resources (TSE) and Gunnar Gold Inc. (TSE) on the Fift…
Timmins Report Anyox mills Toronto sewage
The latest in heap leaching technology will be the topic of discussion at a seminar to be held in Timmins May 24-26. The seminar, called Heap Leaching in the Canadian Environment, is being sponsored b…
Maufort plans bulk sample
Construction of a ramp and extraction of a bulk sample of 30,000 tons is planned by Maufort Resources (ME) at the company’s Tiblemont property in northwestern Quebec. The company reports encouraging r…
Northgate buys 20% stake in Holmer Gold Mines Ltd.
Northgate Exploration of Toronto (TSE) has acquired 680,000 shares of Holmer Gold Mines Limited (ASE), which represents approximately 20% of the total shares outstanding for consideration of 60,000 No…
Metal Prices PRODUCER PRICES (April 18, 1988)
ALUMINUM: MW U.S. Market $1.11-$1.21 per lb. (Apr 7, 1988). ANTIMONY: New York dealer $1.09-$1.15 per lb. (Feb 25, 1988). BISMUTH: New York dealer $5.70-$5.85 per lb. (Mar 24, 1988). CADMIUM: New York…
Metal mining tax peculiarities (1)
Oh, how we hate to pay taxes. Even so, some taxes make us angrier than others. Revolutionary changes took place in the taxation of the mining industry in Canada in 1973 and 1974 and the effects are st…
Flint Rock offering
A $106,000 flow-through offering consisting of 353,333 common shares at 30 cents per share has been completed by Flint Rock Mines (VSE). The company reports that drilling during 1987-1988 at the Shab…
Northgate takes gamble on Windy Craggy gold
After reaching into its deep pockets to buy a significant slice of two Canadian gold producers, Northgate Explorations (TSE) is taking a gamble on a promising exploration project in northwestern Briti…
Queenstake drilling Dos Cabezas project
Three gold- bearing quartz-sulphide veins will be tested by 6,000 ft of underground drilling at Queenstake Resources’ (VSE) Dos Cabezas project in southeastern Arizona. The main drilling target is bel…
Essay contest to be part of mining symposium
A 2-day international symposium on mine planning and equipment selection will be held Nov 3-4 in Calgary, Alta. The event is being organized by the surface mining laboratory at Devon, Alta., of the Ca…