Kewagama placement
A private placement with a company director has been reduced to 100,000 common shares at $1.10 per share because of current market conditions, Kewagama Gold Mines (Quebec) reports. Also, subject to re…
News
Homestake joins Pacific Sentinel
A joint venture agreement between Pacific Sentinel and Homestake Mineral Development gives the latter the right to earn a 60% interest in the Churchill gold project located 38 miles west of Churchill,…
Ok Tedi is marginal
OK Tedi Mining Limited has been dogged by misadventure. No one foresaw the hazards of building a mine so inaccessible, cursed by such a wretched climate, with an annual rainfall of eight to nine metre…
Pioneer reports earnings
Over-all it was a very good year for Pioneer Metals which reported net income for 1987 of approximately $4.1 million or 31 cents per share. This compares to earnings of $2.2 million or 27c a year ear…
Esperanza’s Tillicum nears production
The Tillicum Mountain gold property of Esperanza Explorations should see production early in 1989. The property is near Burton in southeastern British Columbia. The project, to cost an estimated $5 mi…
Galactic earnings
Galactic Resources reports net income of $1.8 million(US) or 7 cents per share for 1987 compared to a $25.6-million or $1.30-per-share loss a year earlier. The company’s fourth quarter net was $1.4 m…
Central bank’s gold holdings usually greatly undervalued
The significance of gold in the reserves held by central banks is often overlooked. This may be because these gold bullion holdings are often included in official statistics at artificially low valuat…
Cadmium prices at record levels
Prices for cadmium have taken off and reached record levels. Metals Week was recently quoting a U.S. dealer price range of $6.80- $7.10 per lb for the silver-white metal. A tight market is the primary…
Alberta Stock Exchange Argus big trader
The Winter Olympics may be over, but Argus Resources led the pack this week trading over 1.2 million shares in three days. Those are big numbers for an Alberta listing and they reflect continued drill…
Jascan, Atlantic get $40 million for Noxon share
Half a year ago Jascan Resources and Atlantic Goldfields each invested $3.5 million in order to earn a 45% interest in the Noxon silver-copper deposit in Montana (N.M., Feb 8/88). Now they’ve reached …
Vancouver Stock Exchange Tone appears positive
Despite lower gold prices and a stronger Canadian dollar, there is a much more positive tone to the Vancouver market this week. Brokerage month-end, which has tended to depress stocks recently, is no …
Queenstake and Childs drill Argus gold bet
A $300,000 (US) drill program is planned on Queenstake Resources’ Argus gold project near Bakersfield, Calif. About 12,000 ft of drilling will be carried out in 1988 with the goal of bringing the Dave…