Big Hydro rate hike in works
Ontario mining companies already under pressure from sagging metal prices are preparing to pay more for electricity after Ontario Hydro announced that it will increase its rates by an average of 11.8%…
News
Deep-drilling polymetallic find Victor a major new discovery for
Crowning 16 years of exploration by Inco (TSE) in the Victor area on the eastern rim of the Sudbury, Ont., basin, three deep drill holes have returned assays that are little short of momentous. Grades…
TORONTO STOCK INDICES
Sept 24 Sept 23 Sept 20 Sept 19 Sept 18 High Low Composite”300″ 3398.10 3396.61 3407.09 3411.95 3418.48 4009.47 3009.91 Metals & Minerals2893.55 2873.74 2894.73 2915.43 2919.88 3453.06 2502.63 Intergr…
Curragh opens new coal mine
Brokers from central Canada recently had their first look at the new underground coal mine here which will provide security for Curragh Resources’ (TSE) latest private placement. Cash flow from the We…
Audrey wins loan extension with lenders
Polymetallic miner Audrey Resources (TSE) has reached an agreement with Elders Finance Inc. to extend to June 30, 1992, the final reimbursement of its long-term debt of US$12.1 million. The maturity d…
U.S. REPORT (September 30, 1991)
New York-based metals giant Asarco (NYSE) has reached a settlement with the U.S. federal government over alleged health and safety rule violations at its East Helena smelter in Montana. Back in 1988, …
Vancouver Stock Exchange (September 30, 1991)
Despite a boost in the price of gold over the US$350 level again, the resource index remained flat over the week ended Sept. 24 at 533.63 while the composite index managed a 3.82-point gain to finish …
Metal Prices (September 30, 1991)
ALUMINUM: MW U.S. market US56.50-58.00 cents per lb. (Sep. 12, 1991). ANTIMONY: New York dealer US82-84 cents per lb. (Aug. 8, 1991). BISMUTH: New York dealer US$3.15-3.25 per lb. (Jul. 18, 1991). CAD…
Noront cuts deal with McKinnon
Toronto-based Noront Resources (VSE) has entered an agreement with prospector Don McKinnon to acquire a 60% interest in the Hurdman Twp. base metal and Clavos West gold properties in northern Ontario….
Sigma contrasts
Without being old-fashioned, Placer Dome’s Sigma mine in Val d’Or, Que., retains the flavor of years gone by. Individual miners work in pairs or small groups, following veins of gold with should-hefte…
Louvicourt
Partners Aur Resources and Societe Miniere Louvem expect the capital cost of developing their Louvicourt Twp. massive sulphide deposit east of Val d’Or, Que., to be well over $300 million. The two com…
Gold in Ontario
The first gold discovered in the Canadian Shield was in 1866 when Marcus Powell discovered a cave whose walls contained “gold in the form of leaves and nuggets.” Since then there have been major gold …