Japan’s Nippon looking for gold
Nippon Mining Company, Japan’s largest producer of copper, is now exploring for precious metals in North America through a subsidiary based in Reno, Nev. A few years ago, Nippon made the decision to b…
News
Imperials Metals subsidiary hits zinc in U.K pilot hole
An Imperial Metals Corp. (TSE) subsidiary, Anglesey Mining, has encountered zinc-bearing sulphide mineralization in a pilot hole at its Parys Mountain property in North Wales, U.K. The test hole was p…
Bull market for copper shows no sign of slowing
The bull market in copper doesn’t seem to want to go away. The base metal, which was selling above $1.40(US) per lb at the end of 1987 and has been selling in the $1 range for a good part of this year…
INSIDER TRADES (October 31, 1988)
Anderson Expl. — BC Sugar Refinery bought 164,706 (Sept, private) to hold 3,684,848. Kerr Addison bought 392,157 (Sept, private) to hold 6,202,281. Atlantic Goldfields — A. Howe sold 257,000 to hold…
ERG opens huge tailings project (October 31, 1988)
An ambitious 17-year mine tailings project which could see the recovery of 110,000 oz gold during the first full year of operation in 1989 has been officially placed into production by ERG Resources (…
Futures Prices Metal Prices
N.Y. Commodity Exchange Copper (in UScents per lb Oct 141.00 139.10 139.40 +1.40 Dec 137.50 130.50 134.40 +6.60 Jan 132.00 130.00 128.40 — Silver (in US cents per oz) Oct …
Toronto Stock Exchange Small but steady gains help index advance
A spate of buying has crept back in the markets as evidenced by the steady gains in the composite index. Today’s 5.67-pt advance moved the composite to 3,430.15 pts — up 50 pts for the week. Today’s …
HudBay may shut down without government help
South African-controlled Inspiration Resources (TSE) of New York is playing hardball with the Manitoba and federal governments over a $130-million modernization plan for the metallurgical complex in F…
Cassiar Mining profit boosted by purchase of Similco mine
With its recently acquired Similco copper mine (N.M., Oct 10/88) contributing $5.9 million to third quarter earnings, 1988 is shaping up to be a very profitable year for Cassiar Mining (TSE). Net earn…
FINANCING (October 31, 1988)
ONTARIO Eagle Egy — final rec iss offer max 13,000,000 & min 10,000,000 @ $1 per sh to net max $12,090,000 & min $9,300,000. VANCOUVER Eros Res — 400,000 sold for gross $160,000. Gulderand Mng — …
CIL restructured by Imperial
C-I-L Inc has been restructured by its parent Imperial Chemical Industries PLC. The move includes the establishment of a world explosives business headquarters in Canada. ICI purchased a 27% interest …
Falconbridge profit
Falconbridge Ltd (TSE) realized earnings of $87 million or $1.16 per share for the third quarter ended Sept 30. This compares with earnings of $19 million or 26 per share realized in the same period …