Pine Point earnings fall in first quarter
Lower zinc prices in the first quarter of 1990 resulted in a 38% earnings drop for Pine Point Mines (TSE). Net earnings for the quarter totalled $14 million ($3.02 per share), compared with $22.5 mill…
News
MinVen finds potential for new structure at Blackdome
Preliminary results from a recent drill program at the Blackdome gold mine near Clinton, B.C., has owner MinVen Gold (TSE) optimistic it may have discovered a new high-grade oreshoot. The encouraging …
Pend Orielle zinc project likely to enter production
Based on a recent feasibility study, the directors of RFC Resource Finance (TSE) have recommended that the Pend Oreille zinc- lead project in Washington State be put into production. The company also …
PRODUCER PRICES (May 07, 1990)
ALUMINUM: MW U.S. Market US72.75- 4.75 per lb. (Apr. 26, 1990). ANTIMONY: New York dealer US82-84 per lb. (Apr. 19, 1990). BISMUTH: New York dealer US$4.25-4.35 per lb. (Apr. 26, 1990). CADMIUM: New Y…
Minerals strong for Noranda as profit slips in 1st quarter
The minerals sector of Noranda (TSE), which slipped to third place in 1989 in terms of earnings among the company’s operating divisions, was riding high again during the first quarter of 1990. Operati…
P.T. Inco sale going as planned, says Phillips
The sale of 20% of P.T. International Nickel Indonesia is proceeding on schedule, Inco (TSE) Chairman Donald Phillips told a group of mining analysts in New York. As a result of the sale, Inco should …
Windy Mountain outlines `huge’ porphyry copper deposit
A preliminary reserve estimate of more than 30 million tons grading 0.48% copper marks the end of a successful 35-hole grassroots drilling program on Windy Mountain Explorations’ (COATS) MacLeod Lake …
U.S. Report Half-owner of Stillwater mine, Manville’s earnings dip
Denver-based Manville (NYSE), half-owner of the Stillwater platinum mine in southwestern Montana, took a 9% drop in first- quarter revenue from US$72.1 million in 1989 to US$65.5 million in 1990. The …
FUTURES PRICES (May 07, 1990)
N.Y. Commodity Exchange 0210,0107,0008,0107,0008,0107,0008,0111, Week’s High Low Close Change COPPER (HG) (in US cents per lb.) May 123.40 118.70 122.10 + 6.60 June 118.00 114.00 117.30 + 5.30 July 11…
Stable exploration industry would draw students to mining
Over the past five years, there has been a steady and disturbing drop in the numbers of students entering (and graduating from) earth science programs in most Canadian universities. The Council of Cha…
Australian Report Australian gold exploration declining
The Northern Territory government is considering a legal challenge to the Commonwealth government’s uranium policy. The Australian Labour Party (ALP), which was returned to office in the March 24 elec…
Prime’s latest falls short of `coarse gold’ expectations
Although not as spectacular as initially estimated, drill hole 90-489 from the Eskay Creek project north of Stewart, B.C., still turned out dazzling assay results for both precious and base metals. Pr…