Deak eases towns” fear of the future
The fear of becoming a mining ghost town has been put to rest in the northern Ontario communities of Virginiatown and Larder Lake. A recent deal between Deak Resources (TSE) and creditors of bankrupt …
News
Revenue Canada’s treatment of farm-ins not about to change
In the latter part of 1989, some uncertainty arose about the status of Revenue Canada’s treatment of farm-ins, evidently because a district taxation office in Western Canada veered somewhat from its t…
Aur to pick up 47% interest in Belmoral Mines
Aur Resources (TSE) has agreed to lend its considerable geological expertise and some financial help to Belmoral Mines (TSE) in return for the option to purchase a 47% stake in the company. The propos…
LAC closes office
LAC Minerals (TSE) will close its exploration office in Kirkland Lake, Ont., on April 15, affecting 12 employees. At least four of them will be offered relocation within the company. LAC’s operations …
Queenston expects royalties from Kirkland Lake to increase
Queenston Mining (TSE) is anticipates rising royalty revenues from its Kirkland Lake properties adjoining the Macassa mine on the west where LAC Minerals (TSE) is stepping up deep exploration and deve…
Higher costs, lower output hurt HudBay
A combination of higher unit costs, employee bonuses and lower than expected copper production added up to a drop in fourth-quarter profits for Hudson Bay Mining & Smelting (TSE) and quarterly loss fo…
Results fall short of expectations, Aur says deposit not `pinched
High-grade intersections that fuelled the rapid rise in the price of Aur Resources (TSE) and Societe Miniere Louvem (TSE) shares in mid-1989 failed to materialize among the latest batch of Louvicourt …
Improving maintenance costs could save industry billions
Reducing the cost of maintaining underground mining equipment could save the mining industry billions of dollars a year, says Dr. W.R (Bob) Dengler, who heads a prominent mine contracting company. Den…
BURIED TREASURES; Time-domain electromagnetic methods led to some
Explorationists made several so-called “blind” discoveries in the 1980s. At depths of 230 to 1,300 metres, these deposits are hidden well beyond the range of conventional air-borne and ground geophysi…
NOVA SCOTIA GOLD
Within the mining industry, there are varying opinions on the potential for an economic gold deposit in Nova Scotia. For this reason, we will attempt to give some insights on the past as well as curre…
THE PITFALLS OF GOING PUBLIC: DIARY OF A CYNIC
So, you want to go public. You figure you can get together some money, start a public company to explore that mineral showing, find a mine. And get rich. I’ve been through that process during the past…
MAGNETOMETERS
Airborne, ground and borehole magnetometer surveys are not what they used to be. A revolution of sorts came in the early 1980s. “Smart” microprocessor-based magnetometers made it possible to store, re…