INSIDER TRADES (February 27, 1989)
Amer Ore — R. Fraleigh bought 50,000 (Dec, Jan) @ 20 cents to hold 68,000 and bought 6,000 (Jan) @ 32-33 cents to hold 28,000 indirectly. Ansell Lake — S. Mourin sold 301,000 (June, July) @ 65 cent…
News
Atlantic Report Nova Scotia operations reduced
Twelve months ago, drill rigs were at a premium in Nova Scotia as companies rushed to qualify flow-through expenditures for the 1987 tax year. This February, you could count the number of drills opera…
Coeur D’Alene has record year
Even with lower metal prices, 1988 was the best year in Coeur D’Alene Mines (Amex) history, according to the company’s president, Dennis Wheeler. Net inco me was $15.4 million(US) or $1.45 per share…
Magnacon’s head-grade potential up
A bulk sampling program completed at the Magnacon mine project has yielded mill head grades up to 81% higher than the uncut chip sample averages, partners Muscocho Explorations (TSE), Flanagan McAdam …
Orofino seeks cash source to replace Scadding gold
With 20 months of reserves remaining at its Scadding gold project near Sudbury Ont., Orofino Resources (TSE) is under pressure to find a new source of cash flow among its portfolio of exploration prop…
Book review
Majors call the tune on early-stage U.S. gold exploration agreements ** In a new study entitled Current U.S. Gold Exploration Agreements, Metals Economics Group has listed information on 470 early-sta…
Dickenson head …..para 12 insert…
Meanwhile, Dickenson has applied to the Ontario Securities Commission (OSC) for an order directing Corona (or, specifically, Corona Minerals, the company’s wholly-owned subsidiary which is making the …
Newfoundland big on Bitech
A gold discovery made last year by Bitech Energy Resources (ASE) on the company’s Nugget Pond property near Betts Cove, Nfld., has attracted the attention of a considerable number of Newfoundland inve…
Westmin returns to mining
Many oil and gas companies have their roots in the mining industry including Westmin Resources (TSE) and ill- fated Dome Petroleum; but few of them ever revert back to mining as their principal busine…
Construction under way at Cliff asbestos plant
Toronto-based Cliff Resources (TSE) is planning to take advantage of a 40% increase in fibre prices by spending $16 million to build a chrysotile asbestos plant at Baie Verte in Newfoundland. Schedule…
Healthy Hemlo Gold output hindered by lower head grade
Output was down from the previous year but Hemlo Gold Mines (TSE) managed to turn out 336,668 oz gold in 1988 from its Golden Giant mine at Hemlo in northern Ontario. The company, 50.1% owned by Noran…
United Lincoln tests depth, gold potential at Mt. Milligan
Assay results were released for four recent holes drilled on the Mt. Milligan gold/ copper project near MacKenzie, B.C. United Lincoln Resources (VSE) is operator and owns 70% while partner BP Resourc…