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…
News
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 …
Metal Prices FREE MARKET London Metal Exchange (July 20, 1987)
Spot closing prices in Pound Sterling per tonne Date July 14 July 13 July 10 July 9 July 8 Copper 1038-1040 1047.5-1048 1052-1053 1033-1034 1041-1043 Le…
Sullivan directors reject offer by Ste Genevieve
Directors of Sullivan Mines have come out against a takeover bid by Ste. Genevieve Resources and are proposing a merger with Cambior Inc., which currently has a 31% stake in Sullivan and has expressed…
New gravel road to access Canamax and Magino mines
Construction of a 14-km all- weather commuter road, linking two new mine sites in the Goudreau-Lochalsh area near Wawa, Ont., is scheduled to begin later this year. While construction rests on the res…
Gunnar, Mill City to lease gold betin Colorado
Gunnar Gold and Mill City Gold have entered into a lease agreement with Horizon Gold Shares of Evergreen, Colo., to evaluate the Ute Creek property near Idaho Springs, Colo. The lease calls for minimu…
Redpath publishes mining cost book (July 20, 1987)
Junior mining companies wishing to estimate the preproduction capital costs of a small underground exploration project can do so themselves with the help of a new publication prepared by the experienc…
Ateba drilling in Munro Twp.
Ateba Resources has commenced a program of overburden drilling on a 52-claim property straddling the Munro and McCool twp. boundary, 100 km east of Timmins. This ground is held under option from Arkro…
Investment Comment Track record makes Minnova a bet
With three new high grade mines coming onstream by 1989, greater cash flow and clean balance sheet, Minnova Inc. looks like a worthwhile bet to a couple of Toronto brokerage houses. In a report titled…