People (June 29, 1987)
M. A. Hanna Company — Garth W. Henry elected vice-president and comptroller.
News
Vancouver Stock Exchange Return to stability after plummet
The Vancouver market has finally stabilized after plummeting over 70 points early in the week. Heavily biased towards precious metals, it reacted negatively to weaker gold prices which resulted from a…
Flow-through isn’t through yet
Finance Minister Michael Wilson’s white paper on tax reform retains the concept of flow-through share financing for mineral exploration, but in a less generous form. Under current flow-through rules, …
Nor-Quest bid for Northair a “property grab”
A formal offer has been made by Nor-Quest Resources for control of Northair Mines which is now preparing a fairness opinion on the proposal. The hostile takeover bid has already been denounced by Nor…
Montreal Exchange Abitibi Metal active
While trading activity was generally moderate this week on the Montreal Exchange, one mining firm, Abitibi Metal Mines, managed to turn over more than 900,000 shares. Abitibi Metal, which closed down …
Joutel plans big effort at Stewart
More than $1 million will be spent by Joutel Resources and partners on exploration this year, Joutel shareholders heard at the annual meeting. A major effort will be made at the company’s property nea…
Metal Prices PRODUCER PRICES (June 22, 1987)
ALUMINUM: MW U.S. Market 71.00 cents -72.50 cents per lb. (June 4, 1987). ANTIMONY: New York dealer $1.18-$1.23 per lb. (May 14, 1987). BISMUTH: New York dealer $3.35-$3.45 per lb. (June 4, 1987). CAD…
World demand for platinum rises
The use of platinum in autocatalysts increased about 15% in 1986, representing 37% of western world demand for the metal, Johnson Matthey reports in its research publication Platinum 1987. More than o…
Mazarin drilling on 3 properties
Diamond drilling programs have been commenced on three Quebec properties — Scheffor, Wilco and Samson — by Mazarin Inc. The Scheffor property is located 30 km northwest of Schefferville and is 1,000…
McFinley buys out Coniagas, Phoenix property interest
Their 50% interest in a Red Lake, Ont. gold property has been sold by The Coniagas Mines, and Phoenix Gold Mines, to McFinley Red Lake Mines for $5 million in cash, the two companies report. In additi…
Silver Hart property gets not subject to suitable financing
A feasibility report has been approved by the board of directors of Silver Hart Mines for a silver property in the Yukon and the development go-ahead has been given subject to a suitable financing arr…
La Sarre highlights
The two-day mining convention at La Sarre, Que., provided a timely update for review of exploration work taking place in this part of the Abitibi belt. As with any mining gathering, mining people lov…