Eldorado, SMDC deal possible brokers’ boon
The privatization of Canada’s as yet unamed uranium mining giant, is expected to spark a scramble by deal-hungry corporate finance departments vying to get a piece of the action. Following the October…
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AGIP expanding presence in Canadian mining sector
AGIP Canada, the wholly-owned affiliate of AGIP SpA of Italy, one of the world’s leading oil and gas companies, is taking on a more aggressive role in the Candian mining industry. Although the company…
Belmoral earnings increase sharply
Earnings of $3.5 million (11 cents per share) were recorded by Belmoral Mines of Toronto during 1987, compared with net income of $1.4 million (5 cents per share) for the year before. Revenues for th…
Hope Brook earnings
Net income of $591,000 (2 cents per share) was recorded by Toronto- based Hope Brook Gold for the five- month period ending Dec 31, 1987. Cash provided by operating activities totalled $674,000. Hope …
Messeguay, partners boost Delta reserves
The tonnage calculation of the D8 north, D8 south and D9 zones, following the 1987 drilling program at the Delta project in northern Quebec, stands at about one million tonnes of possible and potentia…
Giant Bay tests bioleaching in several joint ventures
Bullish about prospects for bioleaching refractory gold ore, Giant Bay Resources has entered a number of joint ventures to test the process commercially. Teaming up with Wright Engineers in November, …
Metal Prices PRODUCER PRICES (February 22, 1988)
ALUMINUM: MW U.S. Market 92.00 cents -94.00 cents per lb. (Feb 4, 1988). ANTIMONY: New York dealer $1.14-$1.18 per lb. (Jan 14, 1988). BISMUTH: New York dealer $5.10-$5.30 per lb. (Jan 28, 1988). CADM…
News in Brief (February 22, 1988)
A proposed merger between Central Crude Ltd. and Noront Resources has been cancelled, both companies say.
Skylark to drill Carlin property
A drilling program is being planned by Skylark Resources for the company’s Pan gold property located near Carlin, Nev. The drilling will begin following the completion of a geophysical survey designed…
United Gunn shares Cuisson Lake profits
A 30% equity interest in Cuisson Lake Mines has paid off for United Gunn Resources in 1987. The company’s share of profits from Cuisson Lake’s earnings amounted to $950,000. United Gunn repaid its deb…
Newmont output 1.6m oz by 1990
When a gold mining company has enough reserves in the ground to overtake North America’s largest producers, it can afford to be extravagant. That’s why New York-based Newmont Gold will spend $404 mill…
Mooseland gold triples, Acadia
As expected, Donald Smith, president of Acadia Mineral Ventures of Toronto has increased the reserve estimate on the company’s Mooseland property in Nova Scotia. Speaking at a meeting of Maritime inve…