Protecting balance sheet Teck’s priority
If Teck’s (TSE) latest annual report is any indication, shareholders can expect an all-out effort to match or exceed the company’s impressive growth rate of the past decade in the 1990s. That might be…
News
Sphinx, Mimiska buying copper mine in Philippines
A copper-gold-silver mine in the Philippines is being purchased by associated companies Sphinx Mining (ME) and Mimiska Mining (ME). Total sale price to Minariel International, a subsidiary of the juni…
COATS (over-the-counter) Southern into Eskay
Continuing on their upward trend, shares of Southern Arizona Mining and Smelting jumped 20 cents to close at 57 cents. The company has entered into another option agreement whereby it will purchase 4….
Japanese eye Brazil
Reports that a major Japanese mining group is planning to buy all of Brazil’s foreign debt — about $115 billion — in exchange for exclusive gold mining rights to the Amazon have been greatly exagger…
Prime sells stake in Akiko-Lori Gold
Murray Pezim’s Prime Resources (VSE) has sold its stake in junior explorer Akiko-Lori Gold Resources (VSE) to concentrate its efforts on the high profile Eskay Creek gold play in northwestern British …
PRODUCER PRICES (April 16, 1990)
ALUMINUM: MW U.S. Market US68.50- 70.50 cents per lb. (Mar. 8, 1990). ANTIMONY: New York dealer US84-86 cents per lb. (Feb. 15, 1990). BISMUTH: New York dealer US$4.30-4.40 per lb. (Feb. 8, 1990). CAD…
Ontario approves $2 million in grants for prospectors
Fully 246 applications, representing $2 million in grants, were initially approved for funding under the new Ontario Prospectors Assistance Program (OPAP). OPAP, implemented by the Ministry of Norther…
Northern Minerals estimates reserves at Gordon Lake
Based on limited drilling, Northern Minerals (TSE) is reporting a “preliminary geological reserve” of about 130,000 tons grading an average of 0.34 oz. gold per ton from two veins on the Gordon Lake p…
Montreal Exchange Heavy Vior volume
Resource issues took a tumble for the week ended April 10, with the mining and minerals index dropping more than 89 points. The market portfolio was also down, by more than 28 points, in light-to- mod…
Updated reserves estimate released for Eskay Creek by Vivian
Two separate geological reserve estimates were released this week for the 21 Zone deposits at the Eskay Creek project north of Stewart, B.C. Calpine Resources, project operator and 50% owner, released…
Despite shutdown, Mobrun mine boosts 1989 income for Audrey
Annual financial results reported recently by Audrey Resources (TSE) reflect the recent expansion of its Mobrun polymetallic mine near Rouyn-Noranda, Que. Reopened after a 1-year shutdown from mid-198…
Record production for Eastmaque
The American Girl mine near Ogilby, Calif., produced in excess of 3,300 oz. gold in March, a record month of production for joint venture partners Eastmaque Gold Mines (TSE) and Morrison Knudsen (NYSE…