Westmin pares quarterly loss
Productivity improvements at the Myra Falls mine enabled Westmin Resources (TSE) to achieve its best quarterly results in seven quarters, a net loss of $3.23 million for the 1992 first quarter compare…
News
St. Philips share options lapse
An option to purchase 500,000 shares of St. Philips (VSE) at $3 per share recently lapsed after Rio Algom (TSE) declined to proceed with the purchase. The options were part of a larger option deal dat…
B.C. mining groups respond to commission
The Mining Association of British Columbia, the Coal Association of Canada, and the British Columbia & Yukon Chamber of Mines are all making submissions to a commission now examining methods to settle…
EDITORIAL PAGE (June 01, 1992)
When Royal Oak Mines swung the deal to buy the Hope Brook gold mine in Newfoundland from BP Canada, it was good news for the companies, for the province and for the people who work at the mine. But, l…
Bank of Canada maintains gold sales at record levels
Gold sales by the Bank of Canada in 1991 were almost 1.8 million oz., the highest level since the program was initiated in 1980 and 462,000 oz. more than 1990 sales. Gold sales will continue at a rate…
Gold Fields’ latest survey finds total gold supply falling
Total world gold supply in 1991 dropped for the first time since 1983 to 2,815 tonnes from 2,913 tonnes in 1990, according to Gold Fields Mineral Services’ annual survey Gold 1992. However, primary mi…
Canadian Overseas to dredge for diamonds
Toronto-based Canadian Overseas Exploration (VSE) has acquired the right to a 50% interest in a joint venture to develop and exploit a 650-sq.-km diamond concession off the coast of Namibia. The conce…
Scotia Prime shares double after deal with Phelps Dodge
Halifax-based Scotia Prime Minerals (ASE) has optioned a base metals property near Five Islands, N.S., to the Canadian unit of U.S.-based giant Phelps Dodge Corp. — the fourth in a series of agreemen…
Nerco may sell minerals division
The Nerco Con mine at Yellowknife, N.W.T., could change hands if Nerco (NSYE) finds a buyer for its minerals division. The diversified resource company recently announced it had retained J.P. Morgan, …
Prospects of finding economic diamond deposits lure
While gold may have lost some of its traditional lustre, the prospects of discovering economic diamond deposits is luring investors back to western markets. The Vancouver Stock Exchange composite inde…
Macuelizo returns gold-copper values
Recent drilling by Melinga Resources (VSE) on the Macuelizo copper-gold project in northwest Honduras, Central America, returned a number of copper-gold intersections. The drilling is part of a 150-ho…
$20-million expansion for Quinsam
Toronto-based contractor Hillsborough Resources (TSE), which has already an equity stake in a producing zinc mine, is moving to take advantage of rising demand for coal in the Far East. At the company…