Sunshine writes down investment in mine
Disappointing drill results have forced Sunshine Mining & Refining (SSC-N) to write down a major portion of its investment in the Sunshine mine in northern Idaho.Against its third-quarter earnings, th…
News
St Andrew Goldfields improves bottom line
While still in the red, St Andrew Goldfields (SAS-T) managed to improve its balance sheet in the third quarter.For the three months ended Sept. 30, the junior lost $47,000 on revenue of $1.8 million, …
Gold Canyon finds new partner for Springpole
In return for exploration expenditures of $2.5 million over four years, Wyoming-based Pasco Rico Resources can earn up to a 51% interest in Gold Canyon Resources’ (GCU-V) Springpole Lake gold project …
Rio Algom stays profitable during expansion
Increased production and lower cash costs allowed Rio Algom (ROM-T) to record positive third-quarter earnings despite low copper prices.For the three months ended Sept. 30, Rio Algom posted net earnin…
Hillsborough aims to boost productivity
A workforce reduction was not sufficient to keep Hillsborough Resources (HLB-T) in the black at its 63%-held Quinsam coal division near Campbell River, B.C.The company laid off 130 employees in July, …
Ashanti boosts production
For the fifth consecutive quarter, Ashanti Goldfields (AHD-T) has reported record production and cost reductions at its portfolio of operating mines in Africa.During the three months ended Sept. 30, t…
William accelerates closure
Poor third-quarter results have prompted William Resources (WIM-T) to shut down its Brazilian gold mine earlier than expected.In mid-October, William announced that its problem-plagued Jacobina mine w…
MINING MARKETS & INVESTMENT NEWS — Cusil Venture completes IPO, Spectrum seeks suspension
Nevada Pacific Gold (NPG-V) has been called for trading on the Vancouver Stock Exchange on the condition that it publicly offer 3 million shares at 75 cents each.Proceeds from the offering will be use…
EDITORIAL & OPINION — GUEST COLUMN — Being heard on the Hill
On Nov. 24, more than 40 mining delegates from across Canada will travel to Ottawa to participate in Mining Day on the Hill. From CEOs of mining companies to mayors of mining towns, these delegates sh…
Losses begin shrinking at Campbell
The first nine months of 1998 have seen an improved financial picture for gold producer Campbell Resources (CCH-T), as falling expenses offset decreased revenues from gold production.In the three mont…
DIAMOND PAGE — High River posts profits
Lower costs and record production achieved by the New Britannia gold mine at Snow Lake, Man., have earned a third-quarter profit for High River Gold Mines (HRG-T).New Britannia, a 50-50 joint venture …
River expects higher production
With another strong quarter under its belt, River Gold Mines (RIV-T) expects to surpass its 1998 production target for the Eagle River gold mine near Wawa, Ont.As of Sept. 30, the company had achieved…