Audrey on schedule with Mobrun mill
When Audrey Resources (TSE) brought its 70%-owned Mobrun polymetallic mine into production two years ago, there were fears that the company would have trouble living up to the terms of a custom millin…
News
Uranium Resources posts profit despite prices
The profits of many North American uranium producers are being squeezed by low metal prices, but first-quarter results for Uranium Resources (NASDAQ) tell a different story. Net income was $2.3 millio…
Ontario’s mines yield $7 billion
Last year’s record-high nickel prices helped Ontario maintain its position as Canada’s premier producer of non-fuel minerals with production twice the value of any other province last year. Ontario is…
Teck buying more GKR
The Toronto Stock Exchange has accepted a notice of intention from Teck Corp. (TSE) to purchase shares of Golden Knight Resources (TSE) and Trilogy Resource Corp. (TSE) on the open market. Teck may pu…
Books (May 08, 1989)
Canadian Mines: Perspective from 1988 — Production, Reserves, Development and Exploration. Mineral Bulletin MR 221. Prepayment $9(C); other countries $10.80(C) Canadian Government Publishing Centre, …
Metal Prices FUTURES PRICES (May 08, 1989)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) May135.00 131.10 131.25 — 7.05 Jul130.10 127.10 127.40 — 8.00 Sep126.50 123.50 1…
Noranda ups Butte stake
Noranda Inc. (TSE) has purchased a further 300,000 shares of Crown Butte Resources (VSE), raising its stake in Butte to 26.5%. The deal, an off-market transaction, was exercised under a share option a…
Earnings (May 08, 1989)
Conwest Exploration (TSE) reports net earnings of $7 million in the first quarter of 1989 or 54 cents per share. That’s up from the first quarter of 1988 when net earnings were $4.3 million, or 35 ce…
Goldcorp offering
Gold fund Goldcorp Investments Ltd. reports more than 17.5 million A warrants were issued pursuant to its rights offering made to the holders of its A shares, common shares and existing A share warran…
Moneta hits at Nahanni
Encouraging gold values have been assayed in a drill hole completed by Moneta Porcupine Mines (TSE) on property held under option from Nahanni Mines (TSE). The claim group straddles a section of the D…
Flagship-Power deal
Flagship Resources (COATS) has sold a 26-claim property in the Beardmore-Geraldton area of Ontario to Power Explorations (TSE). The property, situated in Irwin and McComber Twps., was sold for 200,000…
Letters to the Editor Placer extraction error
We have found an error in your article entitled “Placer mines profitable despite unique problems” (N.M., Mar 27/89). You state that some 234 operations extracted 16,000 oz gold. This, in fact, should …