ERG ceases trading
The Ontario Securities Commission has issued a cease-trading order to ERG Resources (TSE) for failure to make statutory filings. A hearing will take place on Dec. 14. ERG, which owns a gold tailings r…
News
Greenland planning to purchase $2 m in Platinova shares
Junior mining company Platinova Resources (TSE) of Toronto will take on a new shareholder in the form of the government of Greenland, which says it intends to purchase about $2 million worth of Platin…
High costs means deep mines’ days are numbered
“Big is better” is becoming the new name in this ever-changing mining game. Miners everywhere favor and seek out big, low-cost and safer open pit deposits rather than much more costly underground mine…
Downturn prompts downsizing at prominent consulting firm
A general downturn in the mining industry which is affecting producers and junior companies alike is being felt on the consulting side. The well known firm of Derry, Michener, Booth & Wahl, a partners…
Premier opens MNDM building in Sudbury
Ontario Premier Bob Rae recently opened the new building in Sudbury that houses the head office of the Ministry of Northern Development and Mines and the Mining Health and Safety Branch of the Ministr…
Val d’Or confrence
The 10th underground operation conference will be held in Val d’Or, Que., Feb. 24-27. The theme is “safety, productivity and costs . . . sharing tricks of the trade.” Field trips will be included. Par…
Editorial Setting aside funds for mine closure
When an orebody is depleted, mining companies have to ensure safe and complete mine closure, but that responsibility cannot be at such a cost that the mining operation itself becomes uneconomic. Miner…
Canhorn planning quartz sampling
Toronto-based Canhorn Mining (TSE) is planning to extract a 5,000-tonne bulk sample from an abandoned silica quarry at Chegoggin Point, N.S., in the Yarmouth area. A drilling program to determine the …
Japanese backers revive plan to open Goldstream
Production financing for the Goldstream copper- zinc mine near Revelstoke, B.C., is finally within reach of partners Bethlehem Resources (TSE) and Goldnev Resources (VSE). Two Japanese companies, Nipp…
COATS (over-the-counter) Golden hopes take shape
Heavy trading of Golden Hope Mines this week coincided with the company’s release of encouraging results from the Bellechasse gold project south of Quebec City. Grab samples laced with visible gold, i…
Crown breaks even
A third- quarter loss of US$7,000 brings Crown Resources (VSE) to the break-even point for the three months ended Sept. 30. Net income for the first nine months of 1990 was US$2.2 million compared to …
Noranda continues to pull gold values at Moss Lake
Drill results from the Moss Lake joint venture west of Thunder Bay, Ont., continue to confirm the presence of a large low-grade mineralized zone on the property. The latest assay results, derived from…