HBM&S turns profit in ’87
Net income of $39.3 million on revenues of $342.6 million was reported by Hudson Bay Mining and Smelting in 1987, compared to a net loss of $20.2 million on revenues of $291.2 million in 1986. Preside…
News
Card Lake results
Encouraging results have been received by Card Lake Resources from the company’s gold property in German Twp., Ont. Located north of the operating Aquarius gold mine, the Card Lake claims were tested …
SMDC confirms Fork Lake zone
Infill drilling completed by Saskatchewan Mining Development Corp. on the Fork Lake gold property in Saskatchewan, has confirmed the continuity and high grade nature of the zone, the company says. Par…
Prime Group firm bids for Delaware Resources
One of Murray Pezim’s Prime Group companies has moved to take control of Delaware Resources Corp., whose principal asset is the snip gold project near Stewart, B.C. Colossus Resource Equities has made…
News in Brief (March 28, 1988)
Charlim Explorations has changed its transfer agent to Guaranty Trust Co.
Highland Valley mine in full swing
At the current mining rate, it would take less than a year for the Highland Valley Copper partnership to deplete an orebody the size of Hemlo. About a quarter of a million tons of ore and waste are mi…
Report determines Louvem market value
An independent valuation of Louvem Mines of Val d’Or, Que., has concluded the gold-producing firm is worth between $2.40 and $2.72 per share, President P. Andre Lacroix reports. The valuation was prep…
Equity Silver anticipates continuing profits in 1988
A buoyant precious metal market will keep profits high in 1988, Equity Silver President A. Petrina tells shareholders in the annual report. British Columbia’s largest silver producing mine located nea…
Lyon Lake financing
A financing agreement has been worked out between Lyon Lake Mines and Lyon Lake Partnership (1988) and Co., Ltd. whereby the former will receive $8,285,000 through the issuance of 8,285 units, each un…
Pegasus plans fifth gold mine in `88
The growth spurt continues for Pegasus Gold with plans for another new gold mine in 1988. The Spokane-based gold producer had a banner year in 1987 with record production and record earnings. Earnings…
Goldstack joins Ariel
The Ariel mining group in Quebec has added a ninth member, Vancouver-listed Goldstack Resources. Goldstack has a 33 1/3% interest in the old Malartic Goldfield s mine site located near Val d’Or, Que. …
Thompson-Lundmark drills N.W.T. property
New drilling has started on the joint-venture property of Consolidated Thompson-Lundmark Gold Mines about 35 miles northeast of Yellowknife in the Northwest Territories. President Richard Evarts tells…