NRC contributes $2 m. for boring machines
The National Research Council is contributing $1.97 million to the development of two continuous tunnel boring machines which could be used in hardrock mines. The announcement was made by Minister of …
News
News in Brief (December 19, 1988)
Unicorn Resources has changed its name to Pacific Unicorn Resources (PUC:VSE) on a 1-new-for-5-old share basis.
Northgate ups stake in Audrey Resources
Toronto-based Northgate Exploration (TSE) has increased its stake in Audrey Resources (TSE) from 20% to 28% by acquiring a block of 850,000 common shares from NIM and Co. Ltd. and CMP Resources Partne…
Earnings Reports (December 19, 1988)
Bachelor Lake Gold Mines (TSE) of Toronto reports a loss for the 9-month period ended Sept 30 of $634,786 or 8 per share compared to $6.57 million or 90 per share for the year earlier period. Mine c…
Bull Run problems
Bull Run Gold Mines (NASDAQ) is anticipating a significant cash flow deficit in 1989 due to operating problems and a cost over-run at the Big Springs gold mine operated by Freeport-McMoran Gold Co. Pr…
Placer taking control of La Coipa
A gold and silver mining project in Chile with proven and probable reserves in excess of five million gold equivalent ounces appears to be on its way into the international property portfolio of minin…
Skyline increases production at troubled Johnny Mountain
Still grappling with startup problems at its wholly- owned Johnny Mountain mine in the Iskut River area of British Columbia, Skyline Explorations (TSE) may be starting to see some light at the end of …
COATS trading features (December 19, 1988)
This week, mining issues drifted slightly lower on thin volume. Exxeter Resources continues to be one of the few active traders. It was slightly better this week with 218,000 shares traded in the 37 …
Athabaska Gold resumes drilling at Nicholas Lake
Encouraged by recent drill results that included intervals of 77.8 ft of 0.388 oz gold and 30.7 ft of 0.32 oz gold, operator Athabaska Gold Resources (VSE) has resumed diamond drilling on the Nicholas…
Longreach to drill platinum prospect in Tulameen
In order to earn a 50% interest in the Grasshopper project in the Tulameen area of B.C., Longreach Resources is carrying out a follow-up percussion drill program to test platinum values encountered in…
Beauchamps purchase
Beauchamps Exploration (VSE) has acquired a 48-claim property in Surimau Twp., Que. Located 16 km south of Cadillac, the property was purchased for $8,000 and 100,000 Beauchamps shares at a deemed val…
Claude gets Seabee report
A prefeasibility report on gold reserves at the Seabee deposit in northern Saskatchewan has been received by Claude Resources (TSE). The report was recently completed by A.C.A. Howe International, a m…