Golden Rose Mine Creates Loss for Noramco Mining
Beleaguered shareholders of Noramco Mining Corp. (TSE) won’t find much comfort in the company’s latest financial results which show a loss of $7.92 million (49 per share) for the first six months of …
Articles by Northern Miner Staff
FINANCING (November 21, 1988)
ONTARIO GBX Res Corp. — min 600,000 offered @ 35 per sh. Mercantile Gold Corp. — 500,000 sold for gross $250,000. Silver Lady Res Inc. — 300,000 offered @ 35 per sh. Min subscr 200,000 flow-throu…
Work resumes at Gowganda bet
Work on the Gowganda, Ont., silver property to complete an exploration program started in 1987 has been started by Sandy K. Mines, a private company owned by NLX Resources (TSE). This year’s program w…
American Barrick reports 31% jump in net earnings
The 31% increase in net earnings for American Barrick Resources (TSE) in the first nine months “reflects strong growth in production, a substantial increase in operating income and a higher averaged r…
Wye Resources drilling yields positive results
COATS-listed Wye Resources has reported positive drill results from the Saganaga property located near Kashabowie, 140 km west of Thunder Bay, Ont. The 43-claim property is under option from Curran Ba…
Augmitto option
Augmitto Explorations (TSE) has acquired an option to earn a 51% interest in the Bazooka property, adjacent to the western boundary of Augmitto’s gold property near Rouyn, Que. Under the terms of the …
Ketza ore reserve mishap puts PTO near bankruptcy
A serious ore reserve miscalculation at the Ketza River gold mine near Ross River, N.W.T., has put Pacific Trans-Ocean Resources (TSE) in a financial quandary. A joint venture partner with Canamax Res…
Metal Prices (November 21, 1988)
FREE MARKET London Metal Exchange Spot closing prices in Pound Sterling per tonne, except zinc and nickel ($US per tonne) Nov 15 Nov 14 Nov 11 Nov 10 Nov 9 Copper 1700-1705 …
News in Brief (November 21, 1988)
Hecla Mining Co. has declared a dividend of 5 per share payable on Dec 16, to shareholders of record on Nov 18.
Finor drill results
Confirmation of gold mineralization on Courville Twp. property located about 20 miles northeast of Val d’Or, Que., has been reported by Finor Exploration (ME). Finor, optioning the property from Parqu…
Franco-Nevada has improved quarter despite setbacks
Despite some market-oriented setbacks, the financial health of Toronto-based Franco-Nevada Mining (TSE) improved markedly during the second quarter of 1988. Franco-Nevada, which holds a royalty intere…
Inco shareholders to vote Dec 9 on recapitalization
The fate of a proposed recapitalization plan for Inco Ltd. (TSE) will be decided Dec 9 at a special meeting of shareholders. The $1-billion(US) recapitalization involves the payment of a special cash …