Writeoff hurts Amax results
Equity losses and writedowns put a damper on 1990 results for Amax Gold (NYSE) which reported earnings of US$28.3 million for the year, compared with 1989 earnings of US$33.3 million. The losses and w…
Articles by Northern Miner Staff
U.S. REPORT FMC earnings slide
As a result of lower silver prices and an increase in operating costs, FMC Gold (NYSE) reported a drop in earnings to US$5.3 million for the fourth quarter ended Dec. 31 from the US$10 million reporte…
Pegasus reports loss of 1990
Non-recurring charges totalling US$53.1 million during 1990 pushed year-end results into the red for Pegasus Gold (TSE). The company reported a loss of US$38.2 million for the year compared with earni…
Toronto Stock Exchange Dividend sparks Rio Algom, as budget
A pro-business budget that ignored the mining sector failed to ignite the kind of activity that investors might have hoped for during the week ended Feb. 26. As allied troops moved in to take out Iraq…
Venezuela lures Jordex Resources
Vancouver-based Jordex Resources (VSE) recently formed a Venezuelan joint venture company called Cofemina whose main objective will be to acquire base and precious metal properties in that South Ameri…
Positive feasibility for Andacollo bet
The phase-one final feasibility study on the Andacollo Gold project in Chile was recently completed by consultants Bechtel Corp. The study indicates the open pit heap leach project, which is owned by …
Eastmaque reports gold production
During the month of January, Eastmaque Gold (TSE) reported gold production of 5,050 oz. from its 50% share of the American Girl Mining joint venture and its Kirkland Lake dredging operations. The Kirk…
A strong exploration year for British Columbia
The British Columbia & Yukon Chamber of Mines, founded in Vancouver in 1912, recently held its 79th annual general meeting at the Eighth Annual Cordilleran Geology and Exploration Roundup. A record nu…
Porphyry deposit at South Kemess
A large porphyry copper-gold deposit is being outlined at the South Kemess property in the Toodoggone region of north-central British Columbia. El Condor Resources (VSE) and Kennecott, in a 60-40 join…
Amax profit down from 1989 due to weak aluminum price
New York metals giant Amax (NYSE) succeeded in weathering both the recession and weak aluminum prices to post a substantial profit during fiscal 1990, albeit a smaller one than in 1989. For the year e…
Potash sale to fund Chinese aid projects
The Canadian International Development Agency (CIDA) says it will purchase $4.6 million worth of potash fertilizer from Saskatoon-based Canpotex for delivery to China. Canpotex handles offshore sales …
PEOPLE LA TEKO RESOURCES
K. Stoker appointed president and director succeeding Edmund Babcock; Gordon Fretwell appointed director succeeding Chester Millar; Spencer Nelson appointed secretary2Dtreasurer succeeding Brian Irwin…