Sale of Mascot brings profit to Royex Gold
An extraordinary gain resulting from the sale of Mascot Gold Mines to Lacana Mining, enabled Royex Gold Mining to realize net income of $47 million for the year ended Sept 30, 1987. This compares to a…
News
Greater Temagami drilling original copper mine claims
The old Temagami mine property 25 miles south of Ontario’s famed Cobalt silver camp will be getting the once-over by Vancouver-listed Greater Tema gami Mines. The company optioned the property from Te…
Lacana’s profit without Mascot lower in 1987
Earnings of $10.3 million (52 cents per share), before extraordinary items, for the nine months ending Sept 30, 1987, were recorded by Toronto-based Lacana Mining. Net earnings for the same period, af…
Sunrise to drill N.S. gold bet
Diamond drilling is scheduled to get started before the end of January on the 9,300-acre Beaverdam gold property of Sunrise Metals Corp. in Nova Scotia, according to President Anthony Rich. This lies …
News in Brief (January 25, 1988)
Emerald Lake Resources and Highland-Crow Resources have amalgamated into Noramco Mining Corp. each on a share-for-share basis.
Editorial The Saskatchewan-China connection
The story of an overnight success that took years of effort is one that’s well known in the mining industry. A discovery, for example, must appear to many outside the industry as something that happen…
Westfield Minerals steps up drilling
Westfield Minerals has accelerated a 30,000-ft drilling program on its Big Island Lake massive sulphide discovery near Flin Flon, Man. Deep drilling is being concentrated on two massive sulphide zones…
Nortek drilling in Kirkland Lake
Nortek Minerals is continuing drilling on claims in the Kirkland Lake area of northeastern Ontario held by Shenandoah Resources and Miller-Independence Mining. To date 13 holes have been drilled for a…
Lencourt, Glencairn in a joint venture on Ontario gold bet
Exploration, to include ip surveys and diamond drilling, will start immediately to confirm and extend the mineralized zone discovered in the 1940s on the Goodfish property in Ontario’s Kirkland Lake c…
COATS Trading Features (January 25, 1988)
A generally dull week of trading is the only way to summerize activity on coats this week. One long- lost issue which has come back from the grave is New Yarandry Ltd. Once a junior explorer in the 19…
Mining industry plans increase in capital spending
Canadian businesses, including mining, expect increased profits and capital spending in 1988 over 1987 levels, according to a survey undertaken by the federal Ministry of Regional Industrial Expansion…
Cash-hungry Mingold finds partner
At first glance, the recent marriage of a private Toronto company called Mingold Resources with tse-listed Golden Range Resources looks like any other back- door acquisition agreement. In need of cash…