Correction (December 04, 1989)
Contary to what was reported (N.M., Nov 27/89), NovaGold Resources (TSE) President Gerald McConnell currently holds 577,000 of the company’s shares. Secretary-treasurer Angus McIssac holds 758,837 Nov…
News
Placer Dome US may enter joint venture with Athena
A letter of agreement between Athena Gold (VSE) and Placer Dome U.S., a wholly owned subsidiary of Placer Dome (TSE), could result ultimately in a joint venture between the two companies. The formatio…
Hecla losses continue
Low gold and silver prices were blamed for recent losses at Hecla Mining (NYSE). The company reported a third-quarter loss of $3.5 million(US), citing start-up expenses at the Greens Creek mine in Ala…
Spot prices at a glance (December 04, 1989)
Week’s Price (US) Change Gold*$410.75+$ 4.15 Silver*$ 5.61 $ 0.19 Platinum*$515.35 $17.15 Nickel**$ 4.17 $ 0.18 Lead**$ 0.30 Copper-$ 1.15+$ 0.03 Zinc-$ 0.64+$ 0.01 Courtesy of Scotiabank. Informa…
Muscocho closing Montauban gold mine
Gold-mining operations at the small Montauban project of Muscocho Explorations (TSE) near Quebec City, Que., will be closed down early next year. Muscocho says it is terminating operations at the mine…
Antioch seeks funds for N.S. Mines
Westminer (Canada) may have done another company a favor when it abruptly dropped an option on the Logan gold property here in November, 1988. Its sudden departure, after spending $5 million on drifti…
Audrey financials reflect Mobrun ore
Audrey Resources (TSE) of Rouyn-Noranda, Que., reported net income of $1.03 million or 10 cents per share for the nine months ended Sept 30, compared with $602,880 or 7 cents per share for the same …
Swansea Gold acquired by Australian company
Control of Swansea Gold Mines (COATS), an inactive company, has been acquired by Australian gold producer Sandhurst Mining NL of Sydney. New officers have been appointed to Swansea’s board of director…
Second reading for Mining Act
A bill to amend Ontario’s 83-year-old Mining Act passed second read ing in the province’s Legislature this week and moved another step closer to implementation. The second reading stage generally sign…
Windy Craggy copper bet continues to show promise
Geddes Resources’ (TSE) Windy Craggy copper project in northern British Columbia continues to reveal its potential as contractors drive a crosscut into the North zone. The crosscut is being driven thr…
Drilling begins on Reymont’s claims near Nelson, B.C.
A 10,000-ft diamond drilling program has started on Reymont Gold Mines’ (ASE) Great Western Star copper-gold property near Nelson, B.C. The current exploration program will test at least five separate…
Moss Res. named after Moss’ McKelvey
In your edition of Oct 2, 1989, you ran an interesting article regarding the derivation of names of a number of junior resource companies. Included was the name of Moss Resources whose origin was attr…