Northair fends off hostile takeover bid
As anticipated, Northair Mines successfully defended a hostile takeover bid by Nanaimo-based Nor-Quest Resources. At the annual meeting a relieved Northair President Donald A. McLeod announced almost …
News
Noble Peak adds a drill to Rankin Inlet exploration
After receiving some encouraging exploration results earlier this year, Noble Peak Resources is introducing an expanded drilling program at its Happy Lake project southwest of Rankin Inlet, N.W.T. As …
CME seeks control of Pine Bell Mines
If shareholders of CME Capital Inc. approve the transaction at a special meeting to be called shortly, this company will take over control of Pine Bell Mines. The proposal is to acquire l,950,000 shar…
Coxheath uncovers gold-bearing zone
A new gold-bearing zone has been discovered by Coxheath Gold Holdings on its Tangier property located 50 mi northeast of Halifax, N.S. President Michael Riddell reports the following assays of drill c…
MRI into black in current year
Mineral Resources International reports earnings of $3,581,000, or 23 cents a share for the year ended March 31, compared with a loss of $1,453,000 or 10 cents a share, in the previous year. Revenue …
Vancouver Stock Exchange Market ignores base metals prices
There’s really not too much excitment here at present. Stocks are generally trading within narrow ranges and firmer gold prices have generally been greeted with a big yawn. By presstime the VSE index …
Property undergoes feasibility study
A feasibility study on the former producing Lady Blue mine located south of Kirkland Lake, Ont., is being performed by Silver Bar Mines of North Bay, President R. A. Gilson reports. The Lady Blue mine…
Mining omitted by Ottawa in program for Ontario
Mining observers here say a $55-million economic development program announced July 13 doesn’t do much for the industry. Michel Cote, minister of regional industrial expansion, and James Kelleher, fed…
Tundra moving drills to platinum project
Two diamond drills are being moved to Tundra Gold Mines’ platinum- palladium prospect on the Labrador Trough (Permit area No 737) and should be operating before month-end, the company advises. What it…
METAL MARKETS Labor troubles could spark rise in gold price
Pressing labor problems in South Africa, which in 1986 produced half of the gold in the non- communist world, may soon have a profound effect on the price of the precious metal. The National Union of …
Queenstake meets projections
All of Queenstake Resources’ gold mining properties are “meeting their 1987 production and operating cost projections,” says Gordon C. Gutrath, president. Approximately 780 oz of June gold production …
Wharf Resources buys Homestake’s claims
Following an option agreement with Homestake Mining, of Vancouver, Wharf Resources has purchased Homestake’s 50% interest in 19 claims in South Dakota. Under the agreement, Wharf receives 28 patented …