Earnings Reports (March 06, 1989)
Cambior Inc. (TSE) reports fourth quarter net earnings of $4.97 million or 21 cents per share on revenue of $28.21 million. For the same period a year earlier the company reported net earnings of $8….
News
Tarzan Gold finds two shoots on Joburke
Drilling by Tarzan Gold (ASE) on the Joburke gold property near Timmins, Ont., has identified two shoots within the 6-7 vein and the North zone vein systems. The property is held under option from Nor…
Glimmer hopes for success on Hislop and Barnet bets
Like many junior explorers, Toronto-based Glimmer Resources (TSE) is attempting to survive in the current market climate by vending out the properties in its portfolio to larger companies. “We look fo…
Citadel Gold gains approval to proceed at Surlaga mine
Long awaited government approval to begin test milling and mining at the Surlaga gold mine and mill complex near Wawa, Ont., has finally been received by Citadel Gold Mines (TSE). The recent approval …
High-priced nickel market tight as ever
World prices for nickel rage on as the base metal continues to bring a smile to producers and investors alike. Low inventories and strong demand, especially from the stainless steel sector, have combi…
Bakra considers alternatives as Sannorm drilling resumes
Some additional results were released recently from Bakra Resources’ Sannorm property in Manitoba where the company has succeeded in outlining three zones. The latest results from a 14-hole program fi…
Goldpost cuts 0.43 oz over 42 ft at Hislop
Goldpost Resources (TSE) says the first hole of a four hole drill program on the west zone of the Hislop East property east of Timmins, Ont., has intersected 0.43 oz gold per ton across 42.2 ft from a…
Letters to the Editor (March 06, 1989)
Your recent review of the re- opening of the Bunker Hill mine (N.M., Feb 27/89) implies that we are operating with only one year of proven reserves. I believe that your estimate of our proven reserve …
Granges earnings reflect write-down
Despite a substantial improvement in gold production and revenue from sales, Granges Exploration (TSE) reported a loss of $13.5 million or .61 cents per share for 1988, compared to net earnings of $1…
Rough ride ahead for flow-through financings
If predictions by partnership fund management officers for 1989 are to be believed, flow-through financing, which appears to have had a watershed year in 1987, is in for a rough ride. “Disaster,” Barr…
Student shortage
A disturbing fact came out at the second annual Central Canada Geological Conference held in Toronto last February. During a panel discussion entitled The University-Industry Relationship — The Next …
Restrictions delay exploration in Toodoggone area
With the Cheni gold project now in production, Vancouver-based Energex Minerals (TSE) has the most advanced exploration project in the Toodoggone area north of Smithers, B.C. But a decision on a combi…