SMDC merger
The merger of the Saskatchewan Mining Development Corp and Eldorado Nuclear has been completed. SMDC is a provincial mining company whereas Eldorado is federally owned. Renamed Cameco, A Canadian Mini…
News
Cannon gold boosts Asamera bottom line
Forward selling of gold produced from the Cannon mine in Wenatchee, Wash., has given Calgary- based Asamera Minerals (TSE) a financial boost. The company recently reported that net income for the firs…
Aur buys property
Aur Resources (TSE) has acquired a base metals prospect from Abbey Exploration (TSE). The 12-claim property, known as the Lugold, is located near Val d’Or, Que. Aur purchased the 100% interest for $12…
News-in-Brief
NovaGold Resources (TSE) reports $202,242 in cash as at Aug 31. The company withdrew a public issue earlier this year due to “adverse market conditions.” The company is seeking joint venture arrangem…
Formal Production Decision for Samatosum
With all government approvals in hand, the board of Minnova Inc. (TSE) recently made a formal decision to bring the Samatosum project near Adams Lake, B.C. into production. The company has a 70% inter…
Metal Prices (November 07, 1988)
FREE MARKET London Metal Exchange Spot closing prices in Pound Sterling per tonne, except zinc and nickel ($US per tonne) Date Nov 1 Oct 31 Oct 28 Oct 27 Oct 26 Copper 1844-18…
Montreal Exchange Lull in the action
The wind seems to have gone out of the sails of the ME, with both the general market portfolio index and the mining and minerals index experiencing downturns. In the case of the latter, the index was …
War Eagle soars on drill results from Idaho bet
Additional drill results are awaited from the War Eagle Mountain property of War Eagle Mining Company (VSE) in southwest Idaho. Not only has the discovery been heavily promoted by the company but also…
Editorial (November 07, 1988)
A cabinet shuffle not long ago at the federal level eliminated the position of mines minister. If it is, as we hope, only a temporary situation and a new Member of Parliament is to be named to the pos…
Dejour, Noble plan major effort in ’89
A second-phase drill program has been completed by partners Dejour Mines (TSE) and Noble Peak Resources (ASE) on their Turquetil gold property. Located 140 miles southwest of Rankin Inlet, N.W.T., the…
Belmoral reports higher income, drop in output
Net income of $1.99 million (5 per share) on revenue of $20.3 million was reported by Belmoral Mines (TSE) for the first nine months of 1988, compared with $436,000 (1 per share) on revenue of $21.5 …
COATS Trading Features (November 07, 1988)
Several issues showed some life on the COATS system this week. Exxeter Resources saw increased volume with over half a million shares traded in the 45 -78 range. The company announced it has acquired…