Cliff to acquire Reno gold mine
Cliff Resources will acquire the Olinghouse gold mine northeast of Reno, Nev., the Toronto based company announced recently. According to Chairman Gary Last, the open pit mine will resume operations i…
News
RESEARCH PGM deposits: A new model
Before writing off that long-ignored nickel-copper-platinum prospect, consider a re-examination of the property in light of a new genetic model devised by Prof David Watkinson of Carleton University, …
WHAT’S NEW Underground Equipment A manless truck
Four years ago, at about the Fsame time it decided to market continuous mucking machine, Inco Ltd. laid plans to develop a rapid truck haulage system to keep up with these high production rates. The m…
Leap in profit for Hudson Bay
Sale of an interest in a nickel exploration property helped give Hudson Bay Mining and Smelting a first quarter profit of $14.8 million on revenues of $76.6 million, compared with a net loss of $3.8 m…
First-quarter profit slips for Laduboro
A first-quarter profit of $20,000 was recorded by Laduboro Ltd. (formerly Laduboro Enterprises) of Montreal compared with a profit for the same period in 1986 of $31,800. Revenues during the quarter w…
COATS Trading Features (June 01, 1987)
Card Lake Resources continued to perform on the coats system, trading to a new high of $2.30. News from the company’s gold play in the Harker-Holloway area east of Matheson, Ont., continues to be good…
TAX ANGLES A matter of interest for investors
All resourceful investors know the advantages of having the interest expense on borrowed funds deductible for income tax purposes. The actual out-of-pocket cost is thereby reduced by tax relief at mar…
Details are provided on Ontario tax holiday
Mines in Ontario are subject to three separate levels of taxation: federal income tax, Ontario income tax and Ontario mining tax. The Ontario Mining Tax Act imposes a 20% tax on taxable mining profits…
Sunmist funding
In addition to a previously announced flow-through financing of $540,000, Sunmist Energy has secured $600,000, at 65 cents per share, from First Exploration Fund l987 and Co. The amount will be spent…
Giant profit up on price, output
Better gold prices and higher production helped propel Giant Yellowknife Mines to a first quarter profit of $3,516,000 or 50 cents a share, compared with earnings of $469,000 or 11 cents a share in …
Joe Mann mine adds Chibougamau glitter
It has been drowned and dewatered three times in its troubled 30-year history, but the Joe Mann gold mine here in northwestern Quebec is once again producing the yellow stuff. Moreover, production at …
Gaudet claim looks promissing
The results of a preliminary drilling program conducted recently on Continental Exploration’s and Ronrico Exploration’s 30-claim group in Gaudet Twp., Que., have produced some encouraging results. Aft…