People (November 02, 1987)
Toronto Stock Exchange — Lorne J. Levy appointed a member governor, succeeding J. Ronald Woods who has resigned.
News
$35-million credit facility to finance Canamax projects
Toronto-based Canamax Resources has reached an agreement with National Westminster Bank of Canada to finance construction and development of Canamax’s three new gold mines. They include the company’s …
Hemlo into higher grade ore
Higher grades of ore are being mined in the Hemlo area of northern Ontario, the three gold-producing mines there report. Hemlo Gold Mines’ Golden Giant mine is currently milling ore in the 0.41-oz-gol…
Surf Inlet to explore old Surf mine workings
Vancouver-based Surf Inlet Mines recently completed a private placement with Beltech Corp. of Australia to raise $1 million to finance the first phase of a major underground program at the Surf Inlet …
Gunsteel program enhances potential at Nugget mine
Exploration work at Gunsteel Resources’ Nugget property continues to enhance its production potential. Because the geology and mineralogy of the various gold-bearing structures are quite complex, the …
Maufort, DeMontigny conclude option deal
An agreement has been reached between Maufort Resources and Ressources Minerales DeMontigny whereby the latter may increase its interest to 50% in the Siscoe- extension property in northwestern Quebec…
Cigar Lake steps closer to uranium production
The world’s largest and richest uranium deposit took another step closer to production. Cigar Lake Mining Corp., which owns the Cigar Lake project in northern Saskatchewan, says that environmental app…
PRODUCER PRICES (November 02, 1987)
ALUMINUM: MW U.S. Market 85.00 cents -88.00 cents per lb. (Oct 22, 1987). ANTIMONY: New York dealer $1.10-$1.16 per lb. (Oct 8, 1987). BISMUTH: New York dealer $4.90-$5.00 per lb. (Oct 22, 1987). CAD…
American Ore’s Iskut River bets, show mineralization
Alberta-listed American Ore has reported a deficit of $9,390,795 for the six months ended June 30, compared with $8,049,966 during the same period last year. Revenues for the first six months of 1987 …
Copper heading for oversupply
After four years of substantial shortfall, it appears the global copper market is set to revert to oversupply in 1988 as production surges ahead, Shearson Lehman Brothers reports in its Annual Review …
Arbitration win for Teeshin Res.
Teeshin Resources has won an arbitration hearing which allows the company to become the operator of the Dome Mountain gold project in British Columbia. Teeshin will be replacing Canadian United Minera…
Falconbridge profit up on metals price gains
Higher metal prices gave Falconbridge Ltd. a third quarter 1987 net profit of $17 million, or 23 cents a share, the company reports. That’s close to three times the $6 million profit (9 cents a shar…