Deal gives Echo Bay 50.1% of Nuinsco
Shareholders of Nuinsco Resources have approved an agreement with Echo Bay Mines to proceed with the second stage of underground exploration on Nuinsco’s Cameron Lake property near Kenora in northwest…
News
Cantung to sell Queenstake shares
An Australian company, Balmoral Resources nl, has agreed to purchase the majority of Canada Tungsten Mining’s interest in Vancouver-based Queenstake Resources. The shareholding has been for sale for s…
Deka nears production for Minnova, Syngold
A production decision is still some time away for the Deka (Donalda mine) prospect in northwestern Quebec, but Syngold Exploration President Barry Simmons is confident the project will be developed. A…
Brunswick stays flat during third quarter
Citing low mine production and weak zinc prices, Brunswick Mining and Smelting recorded flat earnings of $3.55 million for the third quarter ended Sept 30. These earnings include an extraordinary gain…
Battle Mountain earnings show 94% increase
Improving gold prices and lower unit production costs were responsible for a third-quarter earnings increase of 94% compared with last year’s results, Battle Mountain Gold has said. According to Chair…
Toronto Stock Exchange Market takes a pause on its way down
The slide on the Toronto Stock Exchange continued, whipsawing investors with violent swings as it declined. The shortlived rally of Oct 21 was obliterated by three days of losses which wiped out anoth…
Radcliffe and City in Graham venture
Vancouver-based Radcliffe Resources has concluded a joint venture agreement with City Resources involving Radcliffe’s Graham property on British Columbia’s Charlotte Islands. The Radcliffe property is…
Six-month recovery 7,300 oz for Canroes
Gold recovery during the second and third quarters will be 7,300 oz with an estimated production cost, including processing, of $227(US) per oz, Canreos Minerals reports. The company says it mined 65,…
Belmoral reports 9-month income of $436,000
A net income of $436,000 (1 cents per share) has been reported by Belmoral Mines for the first nine months of 1987, compared to a loss of $410,000 (2 cents per share) for the same period last year. R…
Marker, Varna unite as Varna Gold Inc.
Calgary-based Marker Resources has merged with Varna Resources to form a new amalgamated corporation called Varna Gold Inc. The new company will hold working interests in approximately 400,000 net acr…
Perron gears Sleeping Giant for early ’88 production
Output of 50,000 oz gold is expected during each of the first two years of operation of Perron Gold Mines’ Sleeping Giant mine in northwestern Quebec which is expected to go into production early in 1…
Energex finishes Toodoggone work
The $2.3-million exploration program on Energex Minerals’ Toodoggone area property in northern B.C. has been completed. A month ago the company raised another $300,000 (flow- through) to extend the pr…