Haileybury students receive cash awards
Recently a number of students at the Haileybury School of Mines were awarded scholarships for general proficiency or outstanding academic performance. Among the winners were Darwin Fiske (Saskatchewan…
News
COATS (Over-the-counter) McNickel gains 5 cents
Shares of McNickel traded heavily for the week ended July 31, jumping 5 cents to close at 20 cents on a volume of 216,500. Rumour has it that the Muscocho group of companies, of which McNickel is a me…
Output boosts Minnova profit
Added production from the Ansil and Samatosum polymetallic mines, which both entered commercial production last summer, resulted in a 10-fold profit increase for Minnova (TSE) in the first half of 199…
U.S. REPORT Asarco building new SX-EW plant
At a capital cost of US$54 million, Asarco (NYSE) says it plans to build a new solvent extraction- electrowinning (SX-EW) plant at its Silver Bell mine in Arizona. The new facility, which should be co…
Production imminent at Goldpost’s Hislop
The Hislop East gold prospect in the Timmins-Matheson area of northern Ontario is inching closer to production as partners St Andrew Goldfields (TSE) and Goldpost Resources (TSE) forgo a final bulk sa…
Fluor sells iron ore unit
International engineering and construction firm Fluor Corp. of Irvine, Calif., has sold its stake in the Pea Ridge Iron Ore Co. to Big River Minerals for nearly $12 million. Based in Sullivan, Miss., …
Belmoral to eliminate debt through asset sale to Aur
For the second time this year, Belmoral Mines (TSE) and Aur Resources (TSE) have worked out a deal designed to rescue Belmoral from its financial predicament and expand Aur’s influence in the Val d’Or…
Cyprus first-half earnings slip
For the first six months of 1990, Cyprus Minerals (NYSE) reported earnings of US$55.5 million, or US$1.17 per share, on revenues of US$894.8 million. The earnings were affected by a pretax US$27.5 mil…
Gold and copper prices rebound
The all-commodity price index of Scotiabank rose slightly in June, but the metal and mineral sub-index headed the other way as the price of gold dropped. The past few weeks have seen a rebound in the …
De Beers strikes deal with Soviets
The new Swiss subsidiary of De Beers Consolidated Mines has swung a deal with the Soviet Union which gives De Beers a 5-year contract to sell the latter’s rough diamond production. Soviet production f…
Alberta Stock Exchange Adrian benefits from rumored results
Over the past six months, shares of Ontex Resources have quietly moved up above the $1.60 level from below $1 in March. During the week ended July 31, Ontex gained 15 cents to close at $1.65. The gain…
Hard-pressed juniors try new business ventures
The demise of flow-through financing has been particularly damning for junior resource companies that trade on the over-the- counter exchange in Ontario. In the past six months, several juniors have t…