Goldstrike helps Barrick profit
Exploration success at American Barrick Resources’ Goldstrike property near Elko, Nev., have contributed to some record-breaking financial results, the company said recently. Toronto-based Barrick sai…
News
HSK Vigrass results
No economic gold values were assayed in core from an initial drill program completed by HSK Minerals on the company’s Vigrass Lake project near Kirkland Lake, Ont. The program was designed to follow u…
INSIDER TRADES (March 28, 1988)
Canamax — Amax Gold (Can) bought 83,500 to hold 6,922,057. Chelsea — Northgate bought 1,000,000 (private) to hold 1,000,000 common shares and bought 400,000 warrants to hold 400,000. Gldn Briar — M…
Copper demand expected to settle back
The copper “boom” appears to be coming to an end, according to any number of analysts, including Raymond Goldie of Richardson Greenshields. Supply of the base metal in 1988 in the Western world will j…
Deal makes Nuinsco an Echo Bay subsidiary
Through a financing agreement with Echo Bay Mines, Toronto- based Nuinsco Resources has raised $1.65 million for exploration at its northwestern Ontario gold properties, the company said recently. As …
Muscocho, McNellen close to production on Magino property
The Magino joint venture of equal partners McNellen Resources and Muscocho Explorations expects to make a production decision on its gold property near Wawa, Ont., before the end of June. Muscocho Pre…
Metal Prices FUTURES PRICES (March 28, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Mar 104.00 102.80 103.40 + 2.30 May 97.20…
Investment Comment Earlier acquisitions pay off for Echo Bay
An aggressive acquisition policy appears to be paying off for Edmonton-based Echo Bay Mines. After paying Tenneco Inc. $130 million in late 1986 for a number of precious metal properties in the United…
Books in Review (March 28, 1988)
MINING 1988, A Financial Times International Year Book. Editor, Helen Wilcock. Published by Longman Group UK Ltd., Westgate House, The High, Harlow, Essex CM20 1NE, UK. Price $105(C) ($94.50 on standi…
Cambior nears Flavrian production
Nearly 26 years after it was mothballed, the old Flavrian property near Rouyn-Noranda, Que., is about to become a gold producer once again. Operator Cambior Inc. says it is within two months of a prod…
Pezim’s Prime example of new-found power
A new force has arrived on the Vancouver mining scene, one which has already challenged a takeover attempt by a large U.S. major for an emerging B.C. gold producer. Prime Capital (through Pezgold Reso…
Alberta Stock Exchange Varna leads the pack
In an unspectacular trading session, large blocks of four gold issues crossed the floor. Although the interest in Suffolk Resources, Sweany Gold, Varna Gold and Argus Resources, may have reflected a f…