INSIDER TRADES (July 03, 1989)
Bema Gold — Bema Ind. sold 250,000 (May, private) @ $1 to hold 708,350. Black Hawk — G. Bub bought 100,000 (June) @ 39 1/2 cents to hold 100,000. G. Hughes bought 90,000 (June) @ 29 cents -48 cents…
News
Redstone follows its leader; shops for royalty interests
Redstone Resources Inc. (TSE) has gained a new lease on life in the robust fold of Franco Nevada Mining Corp. (TSE), shareholders were told at Redstone’s recent annual meeting. Debt-free and with $1.3…
Toronto Stock Exchange Aur, Louvem advance on Noranda buying rumor
Excited investors continued wheeling and dealing at a feverish pace in the Val d’Or triplets — Aur Resources, Louvem Mining and St. Genevieve Resources. The rush to buy shares was sparked two weeks a…
MRI seeking new ventures to replace Nanisivik
With a banner year for earnings behind it and another one shaping up, Mineral Resources International (TSE) continues scanning the horizon for new opportunities and sources of revenue. “We could easil…
Malartic acquires Congress mine from Echo Bay
Seeking a foothold in the U.S., Malartic Hygrade Gold Mines (VSE) of Toronto has acquired the Congress gold mine in Arizona from Echo Bay Minerals (TSE). The deal gives Echo Bay 400,000 Malartic commo…
First year gold output 33,000 oz for Crown
Gold output at the Kettle River project of Echo Bay Mines (TSE) and Crown Resources (NASDAQ) is expected to reach about 110,000 oz in the first year, 33,000 oz of that total accruing to Crown Resource…
Noranda in place to take control of Aur discovery
Toronto-based Noranda Inc. (TSE) is quietly positioning itself to take advantage of a massive sulphide discovery reported recently by Aur Resources (TSE) and Societe Miniere Louvem (TSE) at the Louvic…
Layoffs result as companies try to cust costs
Exploration staff at several mining companies have been reduced in the past six months in an effort to cut costs and keep overhead costs to a minimum. Exploration is commonly the first area to be cut …
Rock mechanics integral part of day-to-day mine operation
Management at the Campbell Red Lake mine in northwestern Ontario takes its rock mechanics seriously. “They form an integral part of our ground support system,” S.M. Reid, mine manager of the Placer Do…
Westmin shareholders approve sale of petroleum division
Shareholders of Westmin Resources (TSE) voted overwhelmingly in favor of a reorganization that will see the company’s oil and gas assets sold to Norcen Energy Resources, an affiliated Calgary-based oi…
Toronto Stock Exchange Indices (July 03, 1989)
1989 June 27June 26June 23June 22June 21HIGH LOW Composite 300 3778.37 3772.78 3773.15 3740.02 3730.45 3806.03 3353.13 Mtls & Mnrls 3308.76 3348.86 3344.65 3253.83 3237.12 3564.92…
Profile A NOSE FOR MINES
Before radar, the skippers of west-coast seiners were adept at finding safe harbor in impenetrable fog. Bern Brynelsen remembers one such seaman, for whom he packed salmon. Time and again he was deepl…