Nor-Acme mine to close
Toronto-based TVX Gold (TSE) has recently advised High River Gold Mines (TSE) that it intends to shut down the Nor-Acme gold project at Snow Lake, Man., effective June 1. TVX has the option to earn a …
News
Hydro’s plans worry Ontario consumers
Industrial electric power users in Ontario are worried that provincial government policy could result in serious power shortages or onerously expensive electricity by the mid-1990s. Speaking to a rece…
U.S. REPORT Win-Eldrich extends option
Win-Eldrich Mines (TSE) has extended its option to Billiton Minerals for the purchase of its Ashdown gold property in Nevada to July 4, 1991. Billiton, a unit of Shell Oil, previously paid US$200,000 …
U.S. REPORT Newmont working to reduce debt
The controlling shareholder of Newmont Gold (NYSE), the largest gold producer in North America, reports making progress in its efforts to reduce its debt load. In its 1990 annual report, Newmont Minin…
Phelps Dodge options B.C. porphyry
A recent letter of agreement will allow a Canadian unit of Phelps Dodge (NYSE) to earn a 100% interest in 108 units held by World Wide Minerals (VSE) near Princeton, B.C. World Wide Minerals’ land pac…
Liberian earnings (April 22, 1991)
Net profit of US$572,475 (14 cents per share) has been reported by Liberian Iron Ore (TSE) for the first three months of 1991, compared with a net profit of US$29.7 million ($7.52 per share) in the ye…
Metal Prices FREE MARKET (April 22, 1991)
ondon Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date April 16 April 15 April 12 April 11 April 10 Copper 1359-1361 1353-1354 1376-1378 137…
Inco chairman in optimistic mood
If Inco’s (TSE) performance is any indication of the overall health of the industry, base metal mining may be on the verge of a turnaround. As Chairman Donald Phillips stressed at the opening of this …
Van Stone up and running
Shipments of zinc concentrates from the Van Stone zinc mine owned by Equinox Resources (TSE) and a syndicate of European investors have started. The concentrate is shipped from the mine in northern Wa…
U.S. REPORT Eastmaque reports record production
The American Girl Mining joint venture reported record production for the month of March, producing 7,345 oz. gold from its open pit and underground operations. Eastmaque Gold Mines (TSE) owns a 50% i…
Geophysics firms form new group
A new organization has been established to develop and promote a better understanding of Canadian geophysical expertise in mineral exploration domestically and globally. The Canadian Geophysics Congre…
Minnova’s Winston Lake operation provides fast return on investment
It isn’t often that a mining company can generate enough cash flow from a single operation to recover its investment within three years, but that’s exactly what Toronto-based Minnova (TSE) has achieve…