Stronger dollar affects earnings of Hemlo Gold
A stronger Canadian dollar was partly to blame for reduced earnings during the first quarter of this year, Hemlo Gold Mines (TSE) reports. The company, controlled by Noranda Inc. (TSE), says it receiv…
Articles by Northern Miner Staff
Metal Prices FUTURES PRICES (May 22, 1989)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) May120.00 117.00 117.10 — 8.50 Jun118.00 118.00 116.90 — 6.80 Jul117.50 114.50 11…
Gold funds as of May 16
BGR Goldcorp Central MVP Capital Net value $11.59 7.22 6.28 0.66 Price $ 9.25 4.350 5.62 N/A Discount $20.19 39.7 10.4 N/A Va…
Belmoral reports quarterly loss
Low gold prices and a lower grade of ore at the Dumont mine near Val d’Or, Que., were part of the reason Belmoral Mines (TSE) recorded a $4 million net loss for the first quarter of this year, the com…
News in Brief (May 22, 1989)
Franco-Nevada Mining (TSE) recorded year-end (for the fiscal year ending March 31) net earnings of $1.5 million (13 cents per share), compared with $129,600 (1 cents per share) for the previous fisc…
Alberta Stock Exchange Guiness recovers
Gains were small on the Alberta Exchange during a week that featured mild trading and little investor interest. Volume leader was Baloil Lassiter with 676,000 shares changing hands although the issue …
Januard resigns as head of Total Energold
Just hours after its annual shareholders meeting was concluded, Total Energold Corp. (TSE) announced the resignation of Jean-Pierre Januard as president and chief executive officer. At the meeting, Ja…
De Beers subsidiary moves in equipment
A Canadian subsidiary of De Beers Mining, the South African diamond producer, has apparently moved some processing equipment into the Prince Albert area which could be used to recover diamonds from ki…
New OSC chairman Robert Wright, has mining background
The new chairman of the Ontario Securities Commission is 0000,0506 Robert Wright, a director and vice- president of Teck Corp. Wright will join the commission July 1 and take over from outgoing chairm…
Canadian Giant plans Newfoundland drilling
Canadian Giant Exploration (VSE) is raising $900,000 to fund a drilling program on several claim groups in the Betts Cove area of Newfoundland this summer. The company, together with joint venture p…
Bradley opens 2 new production facilities
Bradley Manufacturing recently opened two new production facilities: a 30,000-sq-ft plant in Rouyn- Noranda, Que., and a 18,000-sq-ft building in Timmins, Ont. Total investment in the new facilities c…
Pine Point acquisition sparks clash at meeting
Despite record earnings and a heady performance on The Toronto Stock Exchange last year, Pine Point Mines was berated at its annual meeting for not obtaining minority shareholder approval for a major …