Resource study centre appoints MacCulloch
Patrick MacCulloch has been appointed a distinguished visitor for 1989-90 at the Centre for Resource Studies (CRS) at Queen’s University in Kingston, Ont. Mr. MacCulloch, named “Man of the Year” by Th…
Articles by Northern Miner Staff
Newmont Gold steps up production
Gold sales were up substantially for Newmont Gold Company (NYSE) in the first quarter of 1989 as the company stepped up the pace of production to offset declining gold prices. During the period, the c…
Onitap sale approved
Shareholders of Onitap Resources (TSE) have approved the sale of the company’s Goldboro gold property in Nova Scotia to Exploration Orex (ME). Orex has already made its first payment of $500,000 and i…
Calpine plans $7-million program on Eskay Creek gold project in B.
The winter exploration program has been completed at the Eskay Creek project of Calpine Resources (VSE) and Consolidated Stikine Silver (VSE) in northern British Columbia. But a $7-million follow-up p…
RTZ Corp is world leader in mining
Earnings per share for Rio Tinto Zinc Corp. (RTZ) — the world’s largest and second most profitable mining company — are expected to grow 13% this year, according to broker Shearson Lehman Hutton Sec…
News in Brief (May 29, 1989)
Goldenbell Resources has amalgamated with ABM Gold Corp. under the latter name. Goldenbell shareholders will receive one class A common share of ABM for each three old shares held. ABM Gold is a U.S. …
Galactic restates 1988 earnings
U.S. gold producer Galactic Resources (TSE) has restated its 1988 consolidated financial statements in order to incorporate a more conservative accounting of cash and properties acquired last summer f…
Boulder Gold plans to open U.S.’s only ferrochrome mine
A feasibility study completed by Australian company Boulder Gold N.L. for the Mountain View chromite property, suggests the project could become the first ferrochrome producer in the U.S. Located in …
McCoy/Cove production growing for Echo Bay
First quarter gold production rose by 12% for Echo Bay Mines (TSE) thanks largely to a major expansion program under way at the company’s McCoy/Cove mine in Nevada. Echo Bay’s total quarterly gold pro…
Belmoral looks for turnaround
The chairman of Belmoral Mines (TSE) is the first to admit 1988 was not a memorable year for his company. Kenneth Dalton, addressing shareholders at the annual meeting, said, “most of our projects hav…
Ventex options claims near Lac St. Jean
Timmins-based Ventex Energy Ltd. (VSE) has acquired the right to earn a 25% interest in 247 claims in the Lac St. Jean area of Quebec. The vendor, 133872 Canada Inc., is a private company controlled b…
Brenda to close Peachland mine by end of 1990
Reserves at Brenda Mines (TSE) near Peachland, B.C. will be exhausted next year, ending one of the great success stories in Canadian mining history. The porphyry copper deposit is among the lowest gra…