Cominco earnings near 1988 levels
With consolidated 1989 earnings of $214.6 million, Cominco (TSE) slightly exceeded the record earnings of $213.5 million set in 1988 before extraordinary earnings. (After including extraordinary items…
News
10,000 tons per day Colomac nears production
Northgate Exploration (TSE) affiliate ABM Gold (AMEX) appears to be winning a battle with the elements as it puts the finishing touches to its ambitious Colomac gold project, 137 miles north of here. …
Great Northern hits
A recent drill program in Garrison Twp., Ont., by Great Northern Gold (ASE) and Winteroad Resources (COATS) was successful in cutting at least one high-grade gold value. The companies report that hole…
Tundra writeoff cuts Hemlo Gold’s earnings
A $10.8-million writeoff of exploration expenditures from the huge Tundra gold project in the Northwest Territories was reflected in the 1989 annual earnings of Hemlo Gold Mines (TSE). The company rec…
Jonpol deepens shaft
An exploration shaft on Jonpol Explorations (TSE) and T&H Resources’ (TSE) joint venture property in Garrison Twp., Ont., will be deepened to 680 ft. from 500 ft., the companies say. Jonpol has arrang…
More production cuts by Inco
Further production changes aimed at reducing costs have been announced by nickel producer Inco (TSE). As of March 1, the lowest-grade, highest-cost mine in the company’s Ontario division, Creighton No…
Newmont’s 1989 income down despite increase in sales
Denver-based Newmont Mining (NYSE) reported unaudited net income of US$123.9 million, or US$1.84 a share, for the year ended Dec. 31, compared with US$174.9 million, or US$2.60 a share, in 1988. Newmo…
Spot prices at a glance (February 26, 1990)
Week’s Price (US) Change Gold* $420.60 +$ 4.60 Silver* $ 5.34 +$ 0.05 Platinum* $531.15 +$15.05 Nickel** $3.28 +$ 0.13 Lead** $0.38 +$ 0.03 Copper-$ 1.10 +$ 0.05 Zinc $0.65 +$ 0.03 Courtesy of Scotiab…
U.S. Report Nevada mining ventures not restricted to majors
It is easy to get the mistaken impression that small to mid-sized companies, stacked alongside giants like Newmont Mining (NYSE) and American Barrick Resources (TSE), aren’t playing much of a role in …
Pegasus breaks records
Record production, revenues, and cash flow were reported by Pegasus Gold (TSE) for the year ended Dec. 31. Pegasus produced 341,400 oz. of gold for revenues of US$178.4 million and cash flow of US$59….
Goldteck drilling placer bet in Chile
Drilling of 353 holes in an on-going program of placer gold exploration in central Chile has been completed by Goldteck Mines (TSE). The company reports 40% of the holes were gold-bearing. One of the …
Uranium Institute holds symposium in September
The Uranium Institute’s 15th annual symposium will be held in London, England, Sept. 5-7. Topics include nuclear electricity costs, the environmental imperative for energy supply, recycling nuclear fu…