Cost reductions help Lornex to higher profit
A 14% jump in net earnings in the first nine months this year over the same period last year, has been attributed by Lornex Mining Corp. to reductions in operating costs and all other expenses. Lornex…
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Accord to get funds
Accord Resources is completing a $300,000 flow-through share offering. When completed, the funds will be used to finance an exploration program on the company’s claim group near Beardmore, Ont. The Ac…
Toronto Stock Exchange: Sluggish market dips, golds take it on the
Wednesday close, Oct 29 A sluggish market this week saw the widely followed composite 300 mean der a few points here and a few points there. Today it was off 0.77 pts for a close of 3,011.82. While t…
Oracle to finance underground work by Western Quebec
Western Quebec Mines plans to go underground next year on its Joubi property near Val d’Or. The project will be financed by Oracle Exploration Inc., a new company based in Montreal that has taken out …
Flotation mill on target in B.C. for Rhyolite Res.
The construction of the flotation mill on Rhyolite Resources’ Texada Island property in the Nanaimo division of B.C. is on schedule and should be completed by mid-to-late November, reports Chairman Jo…
Three quarters of profit Noranda caps red ink flow
Keeping a tight lid on the red ink for the third straight quarter, Noranda Inc. has emerged with a profit of $52.9 million on revenues of $2.6 billion for the recent 9- month period and appears to be …
United Keno Hill Mines reports a loss of $1,594,00 or 53 cents per
the first nine months of 1986 compared to a loss of $1,516,00 of $1.67 per share for the same period in 1985. The company says it had an operating profit of $720,000 for the 9-month period ended Sept …
Flow-through under review, Wilson says
Flow-through share financing for mineral exploration is part of a broad review on tax policy being undertaken by the Department of Finance, Federal Finance Minister Michael Wilson has confirmed. The f…
Forbex Mining Resource has received final approval from the Quebec
Securities Commission for a public financing to raise $1,350,6000 to fund exploration activity on its Lac Fortune West property near Rouyn, Quebec.
Nevada on TSE
Shares of Nevada Goldfields Corp. were posted for trading on the Tor onto Stock Exchange on Oct 28. Based in Vancouver, B.C., this company has interests st in three precious metals properties under d…
Financing plan being considered by Gowest
Pending a successful refinancing of Gowest Amalgamated Resources, the company is considering additional drilling on its Denton Twp., Ont., gold prospect, west of Timmins. A 5,000-ft program is conside…
Still holding over $400: Strong dollar key to gold’s slip
When the U.S. dollar strengthened during the past week, gold prices dipped sharply, further evidence that the overiding factor in gold markets continues to be the relative strength of the U.S. dollar….