Quarterly loss reported by Inco
After recording a US$2.2-million profit for the first three months of the year, Inco (TSE) slipped into the red during the second quarter, reporting a net loss of US$1.5 million (3 cents per share) co…
News
Hillsborough plans limestone operation in Newfoundland
With the takeover of Consolidated Brinco last year, Hillsborough Resources (TSE) acquired not only the operating Quinsam coal mine on Vancouver Island, but also the Port Au Port limestone property on …
Zinc price boosts Brunswick profit
Record production and higher zinc prices provided the impetus for earnings of $11.5 million (29 cents per share) in the second quarter for Brunswick Mining and Smelting (TSE). The net income represent…
Azco drilling provides encouragement
A recent hole drilled by Azco Mining (VSE) on the Piedras Verdes copper project returned 440 ft. grading 0.71% copper from 0-444 ft., the best result encountered so far in the current drilling program…
Izok Lake incentive — Metall acquiring control of Minnova
The opportunity to secure control of the Izok Lake base metal deposit in the Northwest Territories was one of the main incentives behind Metall Mining’s (TSE) offer to purchase a controlling interest …
Greenland rewrites regulations governing mining development
This vast island, with its interior ice cap and coastal fringe of bare, prospective rock is open for business — the mine exploration business in particular. In co-operation with the senior Danish gov…
Queen’s student wins Peacock prize
At its annual banquet held recently in Toronto, the Walker Mineralogical Club honored a student from Queen’s University with the Peacock Memorial Prize. The club awards the prize annually, in the amou…
Steen elected Homestake president
Large gold producer Home-stake Mining (TSE) has a new president. Peter Steen moves from the president’s chair at International Corona (TSE), which has been taken over by Homestake, to the position of …
Aur options Morgain properties
Aur Resources (TSE) has taken an option on Morgain Minerals’ (VSE) base metal properties in New Hampshire. Under the agreement, Aur can earn a 60% interest in the Higgins, Milan, Paddock and New Hamps…
PEOPLE — CALIFORNIA GOLD MINES
John McQuaid appointed president and chief executive officer.
Gold transactions in U.S. in decline
Gold resource transactions in the U.S. in 1991 dropped for the fourth year in a row, reports Colorado consulting firm Balfour Holdings. Last year, 58 transactions were completed, the lowest level sinc…
Ansil works out $4-million deal with Minnova
An agreement worked out between Minnova (TSE) and Ansil Resources (CDN) will see Ansil receive $4 million in cash from Minnova. The sum represents the purchase of all of Ansil’s past and future royalt…