Metal snips (February 08, 1988)
Turkey is reported to have opened its first silver mine. Forecast by the Turkish government is the processing of 1.1 million tons of ore per year and an annual production of 122 tons silver. Most of t…
News
Golden Pond ruling
Golden Pond Resources is the victor in an arbitration ruling which ruled in the company’s favor following a dispute with A-Pri-Or Mining. The latter company claims that Golden Pond had lost its rights…
Rayrock, Discovery swap oil, gas for mining assets
The boards of directors of Toronto-based Rayrock Yellowknife Resources and Discovery West Corp. have agreed to a major rationalization of the mining and oil and gas assets of both companies. Under the…
Tamavack drilling gets promising gold values
Joint venture partners Tamavack Resources and International Maple Leaf continue to report encouraging drill results at their Fountain lake property in Moss Lake Twp., northwestern Ontario. A total of …
Inco has large jump in profit
Booming nickel and copper prices are finally being reflected in the bottom line at Inco Ltd. — the world’s largest producer of nickel. For the fourth quarter ended Dec 31, 1987, the nickel giant earn…
Alberta Stock Exchange Accord issue moves up
It may have been a cut in the U.S. prime lending rate. Or perhaps it was a decrease in the price of gold from $455(US) to around $445 which contributed to a lacklustre trading session. But Alberta inv…
Sherritt sells MacLellan mine
One of the few mines in North America to actually lose money mining gold in 1987 has been purchased by Hayes Resources. For $17 million cash and 2.4 million common shares from treasury, Hayes is getti…
Placer pursues Laonil Lake property
Having completed a $1-million exploration program to earn 60% of Currie Rose Resources’ Laonil Lake gold property in northern Saskatchewan, Placer Dome is planning another sizeable drill program start…
Editorial Fixed-link project
Finally, we can talk about Prince Edward’s little island. Being the nation’s mining newspaper and P.E.I. being our only virgin province, untouched by mining, we’ve had precious few opportunities to in…
Metal Prices FUTURES PRICES (February 08, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Feb 98.50 98.50 98.50 — 12.30 Mar 93.50 90.90 …
Australian corporate battle spills over to Pamour board
Shareholders of Toronto-based Pamour Inc. recently elected two new members to the board of directors, but not without opposition from the two men losing their seats on the board. At a special sharehol…
New board at Getty
Total Resources (Canada) has completed its purchase of Getty Resources, acquiring an 87.6% interest on a fully-diluted basis. Following the closure of the deal, Total elected three new directors to th…