COATS Trading Features (December 21, 1987)
Several new issues on the coats lists appear to be bucking the current downtrend. Strike Minerals, which was underwritten at 30 cents last month, was trading on good volume at 60 cents – 70 cents tod…
Articles by Northern Miner Staff
Magnacon reveals surprises for Flanagan and partners
The Magnacon gold project near Wawa in northeastern Ontario continues to surprise, the vice- president of Flanagan McAdam Resources said at the company’s annual meeting. J. T. Flanagan, who is also pr…
Cassiar seeks govt help to develop McDame deposit
British Columbia’s asbestos producer, Cassiar Mining Corp., has decided to proceed with a $38.8-million development of its McDame deposit located near Cassiar, but is seeking government help to financ…
Sandhurst closes deal to buy Queenstake block
An Australian placer gold mining concern, Sandhurst Mining has closed earlier plans to acquire approximately 20% each in two Vancouver-based companies, Queenstake Resources and Canadian United Mineral…
Eureka extends zone
A reverse circulation drill program completed by Eureka Resources has confirmed the extension of the Jay zone over a strike length of 750 m. The property is located near Williams Lake, B.C. Over the s…
Inco spending $51 million on Coleman mine
The old Coleman mine on the north rim of the Sudbury Basin, which was shut down in 1982, will get a new lease on life. Inco Ltd. announced this week it plans to spend $51 million to access the lower p…
McAdam boosts gold reserves at Spud Valley
Reserves in all categories have risen to 247,078 tons at an average grade of 0.41 oz gold per ton at the Spud Valley property on Vancouver Island, McAdam Resources reports. Proven and probable reserve…
News in Brief (December 21, 1987)
Carben Energy has changed its name to American Medical Technologies Inc. (amo:vse) on a share- for-share basis.
Metal Prices FUTURES PRICES N.Y. Commodity Exchange Week’s High
.00 — 7.50 ** May 715.00 684.00 686.90 — 7.30 ** ** GOLD (in US$ per oz.) ** ** Dec 494.20 480.00 482.70 — 0.08 ** ** Feb 499…
Homestead drilling early next year
Drilling is slated for early 1988 on Homestead Resources’ newly acquired Legacy gold prospect in the Rice Lake belt of Manitoba. Geological mapping, line cutting and geophysical work is being carried …
Noranda/Golden Nevada extend Grew Creek mineralized zone
Additional drilling has extended the large mineralized gold Noranda/Golden Nevada extand Grew Creek mineralized zone zon on the Grew Creek property of Noranda Exploration and Golden Nevada Resources….
Metal Prices FREE MARKET London Metal Exchange (December 21, 1987)
Spot closing prices in Pound Sterling per tonne Date Dec. 15 Dec. 14 Dec. 11 Dec. 10 Dec. 9 Copper 1553-1558 1570-1580 1518-1522 1432-1433 1465-1470 Lead 352-353 350-351 352-3…