Frontier, Beaufield deal
High Frontier Resources (VSE) has optioned 144 claims in Louvicourt, Pascalis and Vauquelin twps., Que., from Beaufield Resources (TSE). The claims are in the general vicinity of the Aur-Louvem base m…
News
Earnings Report (July 10, 1989)
A second-quarter loss of $1.1 million (13 cents per share) for the three months ended April 30 was reported by Skyline Gold Corp. (TSE). Comparable figures from 1988 are not available since Skyline be…
Augmitto swings deal to complete Beauchastel
Beleaguered Augmitto Explorations (TSE), which is struggling to salvage its Beauchastel gold project near Rouyn, Que., has signed a letter of intent with another company which could lead to completion…
Alberta Stock Exchange Borealis surges
Calgary-based Borealis Exploration continues to thwart the short sellers whom President Rodney Cox blamed earlier this year for a rapid drop in the company’s share price. Borealis posted a whopping $3…
Managing Canada’s Mines …..First in a series Making a mine of
Although he started out as a mine geologist, operating soon intrigued Ebe Scherkus 0000,0600 who now manages the big new Donald J. Laronde gold mine of Dumagami Mines at Cadillac, Que. “I’ve been fo…
Golden Shield shuts Kerr mine (July 10, 1989)
The Kerr mine in Virginiatown, Ont., has been closed and the owner, Golden Shield Resources (TSE), has filed for bankruptcy. The company, which purchased the Kerr Addison mine in 1987 for $38 million,…
Nerco buys interest in Black Swan Gold
Nerco Inc. (NYSE) has completed the purchase of a 19% interest in Black Swan Gold Mines (VSE). The private placement, which was done through a subsidiary, Nerco Minerals Canada, involved the purchase …
Mobrun results make Audrey ripe for Northgate takeover
Toronto-based Northgate Exploration (TSE) has been so impressed with an exploration and development program at Audrey Resources’ (TSE) Mobrun mine near Rouyn-Noranda, Que., that it wants to increase i…
B.C. miners dig deep for children’s hospital
More than $280,000 was raised for the Vancouver Children’s Hospital recently by the British Columbia mining community. Entitled “Mining for Miracles,” the campaign involved the efforts of mining compa…
Metal Prices PRODUCER PRICES (July 10, 1989)
ALUMINUM: MW U.S. Market 87.50 cents – 90.00 cents per lb. (June 15, 1989). ANTIMONY: New York dealer 98 cents -$1.00(US) per lb. (June 22, 1989). BISMUTH: New York dealer $6.00-$6.10(US) per lb. (Jun…
Falling metal prices hurt commodity index (July 10, 1989)
Metal prices continue to fall, dragging Scotiabank’s monthly all- commodity price index with them. The index was down by 1.1% in May compared with April. Bank economist Patricia Mohr says the decline …
New zone possible at Dolphin bet
A potential new gold zone at the Cape Ray gold property in southwestern Newfoundland has been announced by Dolphin Explorations (TSE). The new quartz vein discovery occurs on the northeast shore of Bi…