Letters to the Editor CUB tunnel borer
We appreciate your comments on the CUB tunnel borer in your Nov 27, 1989, issue. However, there is one minor error in that we hope the machine will realistically do 1,000 ft per month. If it bores 1,0…
News
Montreal Exchange Trading picks up
Trading volumes were higher and the market direction definitely positive for the week ended Dec 12. The general market portfolio index jumped 31.4 points during the report period and the mining and mi…
FINANCING (December 18, 1989)
Desert Gold — gross proceeds; rec $270,000. Varitech Res — min 450,000 offered @ 55 cents per sh. Golden Peaks — gross proceeds rec $218,750. Gold Summit — min 800,000 offered @ 35 cents per sh….
Editorial Determination value
Some say it is impossible to determine the value of a mineral prospect until there is a verifiable measure of mineable ore reserves. Like a car dealer tallying up the value of his business without tak…
Durham antimony closing in January
Low antimony prices have forced Dominion Explorers (TSE) to close its Durham antimony mine in New Brunswick. Employee layoff notices have been issued for a planned shutdown by the end of January, 1990…
Meridian takes option on property adjacent to Beartrack gold
American Gold Resources, a private Houston-based company, has signed a joint venture agreement with Meridian Gold which gives Meridian the right to earn an interest in American Gold’s Arnett Creek pro…
Ketters ti the Editor Logan Drilling
I would like to point out an error which appeared in The Northern Miner (Dec 4/89). Please note that Logan Drilling, Stewiacke, N.S., was the contractor who provided drilling services for Antioch Reso…
McAvity still bullish on gold as Biron Bay connection shows (December 18, 1989)
Gold guru turned mine financier Ian McAvity is hoping that the recent upswing in the price of gold will revive his reputation as the man with the Midas touch. As president of Toronto-based mining fina…
Bank terminates gold loan on ERG’s tailings project
The struggling tailings treatment project of ERG Resources (TSE) at Timmins, Ont., is in financial hot water. An Australian bank has terminated the company’s gold loan agreement. ERG, 61.6% owned by P…
Open attitude
The more open attitude toward foreign investment in the Soviet Union provides some interesting opportunities, and where there are opportunities, you’ll find Canadian mining companies. One of Canada’s …
Bema’s Chilean deposit could be a big one
A drilling program has been completed on the Refugio gold-copper porphyry deposit 50% owned by Bema Gold (TSE). Bema is earning the 50% interest in the property from Cia Minera Refugio by funding expl…
Rouyn has revenues
Rouyn Mining Resources (TSE) generated revenue of $4.9 million for the year ended Aug 31. Earnings were $808,330 or 9 cents per share. There are no comparative results from prior years. The company’s…