Spot prices at a glance (June 05, 1989)
Price Week’s ($US) Change($) Gold* 363.50 + 1.00 Silver* 5.22 + 0.05 Platinum* 501.25 +15.00 Nickel** 5.85 + 0.25 Lead** 0.29 — 0.01 Copper 1.18 + …
News
Newfoundland mining show draws a crowd
Newfoundland’s first mining and mineral exploration show successfully drew a large crowd of exhibitors and mining industry delegates here recently. The exhibition, called Mineralex 89, brought togethe…
North American Rare Metals 4 cents **
North American Rare Metals (ME) reported a net loss of $52,970 or 0.4 cents per share for the 6-month period ended Feb 28. In the same period last year the company reported a net loss of $108,544 or 1…
Placer Dome yet to prove that Lassie such a steal
A longtime shareholder of Lassie Red Lake Gold Mines (COATS) says that Placer Dome (TSE) got a bargain when it paid $225,000 to gain control of the Toronto company. Lassie Red Lake, whose sole asset i…
Callahan loss $1.2 million
Attributing the loss to lower revenues from the Galena silver mine in Idaho, ongoing problems at the Ropes gold mine in Michigan, and high exploration expenditures, Callahan Mining (NYSE) reported a l…
Beartrack mine will boost Canyon output to 50,000 oz
Development of the Beartrack deposit near Salmon, Idaho should boost Canyon Resources’ (NASDAQ) annual gold output to 50,000 oz beginning in 1991, Richard De Voto, president, says in the company’s ann…
New mines will help boost Cambior gold production
Quebec-based gold producer Cambior Inc. (TSE) turned out 191,207 oz in 1988 and is expecting a similar output this year. New projects coming on stream will increase production to 260,000 oz in 1991, t…
Metal prices headed for a `soft landing’ says bank economist
Metal prices are on the decline but the fall is expected to be relatively gentle, says an economist with Scotiabank. “The correction in metal prices over the next 18 months will be considerably less t…
Metall completes purchase of Copper Range operation
Toronto-based Metall Mining (TSE) recently completed the acquisition for $83 million of Michigan copper producer Copper Range Co. The purchase by merger deal establishes Metall as a fully fledged oper…
Earnings Report (June 05, 1989)
Bachelor Lake Gold Mines (TSE) reported a net loss of $975,242 or 11.9 cents per share for the period ended March 31. In the same period last year a net loss of $427,831 or 5.5 cents per share was re…
Rambler Joint Venture faces critical decision
The Rambler Joint Venture will reach a critical stage next month when Teck Corp. (TSE) meets with its two junior partners to consider future participation in that Newfoundland project. The joint ventu…
Rouyn Mining arranges Francoeur financing
A $2-million bank facility has been arranged by Rouyn Mining Resources (TSE) to help pay for the company’s share of costs at the Francoeur gold mine near Rouyn- Noranda, Que. Rouyn Mining, with a 50% …