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…
News
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…
Levon reports gold discoveries from Congress
Several high grade gold discoveries were made by operator Levon Resources (TSE) during recent underground work on the Congress project located near Gold Bridge, B.C. The project is a 50/50 joint ventu…
Newfields awaits further financing
Underground exploration work by Newfields Minerals (TSE) in the Kirkland Lake, Ont., area has been placed on hold pending further financing. The company is negotiating a private placement out of New Y…
Toronto Stock Exchange Rising rates take toll on bullion and
A concerted effort by the Federal Reserve Board in the U.S. to keep a firm lid on inflation is taking its toll on equities and gold bullion — the latter a traditional inflation hedge. Rising interest…
Brunswick posts minor production increase
Annual production at Brunswick Mining and Smelting Corp.’s (TSE) No 12 lead-zinc-silver mine near Bathurst, N.B., was up slightly last year compared with 1987. Total ore milled by the company increase…
Obituary Andrew Robertson
Andrew (Andy) S. Robertson, described by associates as one of the last of the “gentleman miners,” died Feb 26 at his home in West Vancouver. Born Jan 12, 1902, Robertson studied mine engineering at Mc…
Falconbridge not bidding on “iffy” Nonoc project
Falconbridge Ltd. Chairman William James recently dispelled reports that he is negotiating to buy the Nonoc nickel project in the Philippines. No discussions have taken place between the government of…
Kerr Addison plans to reap rewards from new projects
Falling gold prices and the rising value of the Canadian dollar were responsible for a substantial reduction in Kerr Addison Mines’ (TSE) net income during fiscal 1988. Net income reported by the 50.1…
Aurogin drilling kimberlite bets
Diamond drilling has commenced on the first of 12 potential kimberlite targets to be tested this winter by Toronto-based Aurogin Resources (VSE). Aurogin can earn a 50% interest in the properties from…