CORRECTION (September 17, 1990)
An earlier story (T.N.M., Sept. 3/90) on Inco’s (TSE) purchase of a 6% stake in Explaura Holdings (COATS) used incorrect currency symbols. Inco purchased four million shares of Explaura at 40 pence pe…
News
Kemess drilling cuts wide intersects
Recent drilling on the South Kemess project in the Toodoggone region of north- central British Columbia has returned wide intercepts of copper- gold mineralization. El Condor Resources (VSE) and a uni…
Insider Trading Ewanchuk profits from Corona deal
Henry Ewanchuk, a former senior executive with the Toronto- based Corona (TSE) group, recently made a substantial profit after exercising an option to purchase shares of the company at a discount to t…
New Silidor mine achieves planned production rate
Five months after entering production, the Silidor gold mine lying just outside of this city has reached its planned production capacity of 33,000 tonnes per month. The mining operation, officially op…
Aur keeps 55% of Louvicourt, Noranda to get smelter feed
The four participants in the Louvicourt Twp. base metal discovery emerged recently with a deal that removes all of the litigation surrounding the deposit, while guaranteeing Noranda’s (TSE) right to t…
Noranda Trelleborg refinance takeover of Falconbridge
Toronto-based Noranda Inc. (TSE) and Swedish mining conglomerate Trelleborg A.B. recently announced a $2-billion refinancing of their investment in Falconbridge Ltd. Noranda and Trelleborg, which each…
EDITORIAL PAGE Ontario won’t benefit from NDP win
As one pundit put it the day after Ontario elected an NDP majority government: “It can’t mean any good for mining.” That seems to sum it up. We would be delighted if proved wrong, but the election of …
Drilling increases Hushamu potential
Recent drilling on the Expo Property on northern Vancouver Island has Moraga Resources (VSE) optimistic that the ultimate size of the Hushamu deposit could be in the order of 300 million tons. Moraga …
Investors wary of NDP win in Ontario’s election
Investors reacted negatively to the unexpected election of the New Democratic Party to a majority government in Ontario on Sept 6. Several mining companies with operations in the province saw their sh…
FUTURES PRICES (September 17, 1990)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Sept 135.20 133.80 134.80 + 6.70 Oct 132.80 132.00 132.30 + 5.40 Nov — — 130.65 + 5.25 SILVER (in US cents per …
U.S. REPORT Cyprus Minerals plans copper smelter expansion
Colorado- based Cyprus Minerals (NYSE) is seeking the necessary state and federal approvals to begin work on a major US$92.5 million modernization and expansion program at its copper smelter in Miami,…
HIGHGRADING, PT. 2 OPP formed Gold Squad following 1938 gold theft
The time: 3 a.m., June 7, 1938. Using a small hacksaw, two men cut two steel bars from a small chest-high window at the rear of the Dome mine refinery in South Porcupine, Ont., and climbed in. Moments…