Galactic to develop new mine
March has indeed come in like a lion for Galactic Resources (TSE). In the space of one week, the company announced a substantial increase in annual earnings, the sale of the bulk of its interest in a …
News
Coxheath has proposal to save Tangier mine
A payment proposal offered to creditors of the cash-strapped Coxheath Gold Holdings (TSE) may allow the company to recommence production at its Tangier gold mine in Nova Scotia. The terms of the propo…
Mercur mine helping to pioneer treatment by pressure oxidation
The Mercur mine, near this small western community, is as rich in history as in gold. Although local residents are likely aware of the mine’s colorful past, few realize that Mercur is still making his…
Metal Prices (March 19, 1990)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Mar. 13 Mar. 12 Mar. 9 Mar. 8 Mar. 7 Copper 1618-1620 1612-1614 1640-164…
Samatosum doubles gold, silver output from startup levels
Gold and silver production at the Samatosum mine, 28 miles northeast of Kamloops, B.C., more than doubled in the January-February period, compared with the average monthly production rate since the mi…
Oneida looking to increase reserves
Recent drilling on the Mexican Hat property by a unit of Placer Dome (TSE) encourages owner Oneida Resources (VSE) to predict reserves on the Arizona gold property will increase. Placer Dome is fundin…
Montreal Exchange More Douay drilling
The three partners in the Douay gold project in Quebec’s Casa Berardi region have started up a second drilling program representing 10,800 ft. Inco, Societe d’Exploration Miniere Vior and Cambior are …
CORRECTION (March 19, 1990)
Contrary to what was reported (T.N.M., March 12/90), the stripping ratio of the main Mt. Milligan deposit near Prince George, B.C., is estimated at 1.2-to-1. The deposit is 70% owned by Continental Go…
Gold funds as of Mar. 13
MVP BGR Central Capital Net value $12.03% %$6.19% $0.42 Price $10.875% %$6.50% $0.33 Discount 9.60% 5.0%5 21% Value $71,612,014 $104,191,720 N/A…
Acabit on ME
Newly listed on the Montreal Exchange is Exploration Acabit (symbol ACX), a Val d’Or, Que. -based company formed in late 1989 by the union of Exploration Vent d’Or and private firm Ressources Claverny…
Struggling ERG hurts Pamour
A loss of $54.8 million ($4.62 per share) was reported by Pamour (TSE) for 1989, compared with a loss of $6.4 million (54 cents per share) for the previous year. The loss includes the company’s share …
COATS (over-the-counter) Fontana spurs activity
Encouraging results were reported from one drill hole on the Fontana project near Val D’Or, Que., including a 45-ft. intersection grading 0.48 oz. per ton. Recently, another hole was completed with si…