Hanna’s profit increases 24% to 13.8 million
M. A. Hanna Co. (NYSE) saw its profit increase by 24% to $13.8 million(US) in the first quarter of this year from $11.1 million during the same period last year. Net income from operations was 54 cent…
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Newmont Gold steps up production
Gold sales were up substantially for Newmont Gold Company (NYSE) in the first quarter of 1989 as the company stepped up the pace of production to offset declining gold prices. During the period, the c…
Calpine plans $7-million program on Eskay Creek gold project in B.
The winter exploration program has been completed at the Eskay Creek project of Calpine Resources (VSE) and Consolidated Stikine Silver (VSE) in northern British Columbia. But a $7-million follow-up p…
RTZ Corp is world leader in mining
Earnings per share for Rio Tinto Zinc Corp. (RTZ) — the world’s largest and second most profitable mining company — are expected to grow 13% this year, according to broker Shearson Lehman Hutton Sec…
Galactic restates 1988 earnings
U.S. gold producer Galactic Resources (TSE) has restated its 1988 consolidated financial statements in order to incorporate a more conservative accounting of cash and properties acquired last summer f…
Boulder Gold plans to open U.S.’s only ferrochrome mine
A feasibility study completed by Australian company Boulder Gold N.L. for the Mountain View chromite property, suggests the project could become the first ferrochrome producer in the U.S. Located in …
McCoy/Cove production growing for Echo Bay
First quarter gold production rose by 12% for Echo Bay Mines (TSE) thanks largely to a major expansion program under way at the company’s McCoy/Cove mine in Nevada. Echo Bay’s total quarterly gold pro…
Belmoral looks for turnaround
The chairman of Belmoral Mines (TSE) is the first to admit 1988 was not a memorable year for his company. Kenneth Dalton, addressing shareholders at the annual meeting, said, “most of our projects hav…
Ventex options claims near Lac St. Jean
Timmins-based Ventex Energy Ltd. (VSE) has acquired the right to earn a 25% interest in 247 claims in the Lac St. Jean area of Quebec. The vendor, 133872 Canada Inc., is a private company controlled b…
Brenda to close Peachland mine by end of 1990
Reserves at Brenda Mines (TSE) near Peachland, B.C. will be exhausted next year, ending one of the great success stories in Canadian mining history. The porphyry copper deposit is among the lowest gra…
Alberta Stock Exchange Volumes remain low
Investors stayed away in droves this week as the price of gold fell to a 3-year low of $359(US) per oz. As a result, placer gold explorer Integrated Resources of Edmonton, was the session’s biggest tr…
With Hees group in control Westfield plans to be busy
With a new controlling shareholder in command and a number of projects under way in Chile, Great Britain and North America, Westfield Minerals (TSE) will have its hands full for the remainder of 1989….