Bonanza Metals buys new project
In an agreement with Charlim Exploration (VSE), Bonanza Metals (ASE) will acquire a 70% interest in a property bordering the Poirer/Joutel mining concession in Quebec. Bonanza paid $50,000 cash and wi…
News
Volatility of gold price followed with keen interest
The market collapse of October, 1987, followed by a falling price of gold in 1988 and a depressed price for the precious metal for a good part of 1989, had a devastating effect on junior mining compan…
Golden Star offering delayed as Placer drills Guyana zone
Golden Star Resources has decided to wait until partner Placer Dome (TSE) has finalized plans for development of the Omai gold project in Guyana before going ahead with a previously announced public o…
Teck earnings up marginally
Earnings for the year ended Dec. 31 were up over the previous year for Teck (TSE). Net earnings for the period were $106 million on revenues of $414 million versus the previous year’s earnings of $105…
Mining industry still offers solid investment opportunities
As investment counsellors, we have been arguing successfully that segments of the mining industry offer attractive investment opportunities. The argument can be divided into two phases. The first is t…
Hecla negotiating deal for large yttrium deposit
Active across Canada, Hecla Mining Co. of Canada continues to seek out attractive mineral properties for exploration and development. In Quebec-Labrador, Hecla Canada is working out the final arrangem…
Northern shareholders sue Canamax
A group of Alberta-based shareholders of Northern Minerals (TSE) who lost a small fortune after the company ran into financial difficulties two years ago, are suing Northern and former joint venture p…
Montreal Exchange Market gains
Trading activity related to resource issues turned positive for the week ended March 6, with the mining and mineral index gaining 93.5 points. The general market portfolio index also shone, closing wi…
Sikaman uncovers wollastonite deposit
Extensive wollastonite mineralization has recently been identified in the Tonopah district of Nevada. According to Sikaman Gold Resources (TSE), the wollastonite mineralization meets industrial standa…
Euro-Nevada has profit during 9-month period
Toronto-based Euro-Nevada Mining (TSE) reported a net profit of $665,000 or 6 cents per share for the nine months ended Dec 31, compared with $583,000 or 6 cents per share during the same period last …
Slight increase in Cambior earnings
Net earnings of $17.7 million (73 cents per share) were reported by Cambior (TSE) for 1989 on revenue of $116.9 million, compared with $17.4 million (74 cents per share) on revenue of $109.9 million t…
Cash flows for Cheni
Gold and silver miner Cheni Gold Mines (TSE) reported net earnings for the year ended Dec. 31 of $4 million, or 36 cents per share, on revenues of $26.7 million. Since 1989 marks the first year of pro…