Debt-heavy Sherritt to sell mining assets
After some 60 years in the mining business, Sherritt Gordon Mines is putting its mining assets on the selling block in hopes of easing its debt load which at $134 million is proving to be just too cum…
News
Denison earnings slip
Weak potash markets knocked down earnings this first quarter for Denison Mines, says President J. D. Fowler. Its 60% owned potash project near Sussex, N.B. reached commercial production status on Jan …
Montreal Exchange Onyx, Oasis active
Two companies belonging to Groupe Minier of Val d’Or, Onyx Resources and Oasis Resources, each traded more than a million shares during the past week on the Montreal Exchange. Onyx, which closed up 10…
METAL MARKETS Firm sticking to its forecast of 57 cents aluminum
Prices for aluminum may currently be running in the 64 cents (US) per pound range, but a London, England, firm is sticking with its average price forecast of 57 cents for 1987. “Following two years o…
Equity Silver quarter won’t reflect price rise
Silver has often been described as the”poor man’s gold” and it has tended to follow the yellow metal upward, something that appears to be happening again today. That could be good news for Equity Silv…
Vancouver Stock Exchange Buying frenzy is dissipated
Much of the earlier buying frenzy on Vancouver has dissipated and the market is now see-sawing its way from one day to the next. Trading volume has dropped about a third from recent highs but it’s sti…
COATS Trading Features (May 04, 1987)
New Athona Mines added a dime to 35 cents on news that its northern Saskatchewan gold property has been optioned. Lenora Explorations, a Toronto Stock Exchange-listed junior, has optioned the claims n…
Metal Prices FUTURES PRICES N.Y. Commodity Exchange (May 04, 1987)
Week’s High Low Close Change COPPER (in US cents per lb.) May 62.15 61.60 62.05 — 1.30 July 62.15 61.65 62.05 — 1.10 Sep…
Investment Comment Second gold rush led by ERG
One man’s waste is another man’s gold. A trite expression to be sure, but a true one nonetheless. And it is one that is starting to be given serious consideration in the mining industry. A company tha…
Mimiska uncovers 3 gold veins
Three veins uncovered by Mimiska Exploration on its Fern Elizabeth property in Atikokan, Ont., have given the Quebec-based company something to smile about. One of the veins, named the Elizabeth, is a…
SUPPLIERS’ NOTES Crothers Ltd.
The Ontario Caterpillar dealer Crothers Ltd. has opened a 35,000-sq-ft expansion. The new branch is at the Walden Industrial Park, in Sudbury. The company hopes the new facilities will expand sales an…
LETTERS Mining Technology
Your article on the need for co-operation to improve our chances for success in mining technology (March, 1987) is most timely. We have only to look at some of our competitors such as Sweden with its …