Two mining projects receive gov’t grants
Government grants for infrastructure work at two mining projects in northwestern Quebec have been awarded to Cambior Inc. (TSE) and Ressources Minieres Rouyn (TSE). The federal and Quebec governments …
News
Metal Prices (July 03, 1989)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date June 27 June 26 June 23 June 22 June 21 Copper 1596…
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…
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…