News

Agnico-Eagle Mines has set a $9.6 million exploration budget for 1988. The bulk of the money, about $8.3 million, will be spent on surface and underground exploration for silver in the Cobalt/New Lisk…

The Canadian mining industry loses about $940 million every year because it habitually ignores proper maintenance procedures that could reduce wear and friction in equipment components. That rather st…

Belmoral Mines and its associated companies will spend more than $30 million in 1988 on exploration and development of existing operations and properties. They are located near Val d’Or, Que. and in t…

The exploration arm of the ubiquitous Pezim group of companies is now known as Prime Explorations (formerly Galveston Explorations). In North America, Prime will be involved in nearly 50 exploration p…

Echo Bay Mines’ explorationists had their best year ever in 1987, adding nearly seven million proven and probable mineable ounces of gold to the company’s 1986 reserve of 5.6 million oz. This was acco…

Esso Minerals Canada plans to spend in the neighborhood of $11 million on gold and polymetallic massive sulphide exploration throughout Canada in 1988. About 70% will be directed toward precious metal…

In 1988, Falconbridge Ltd.’s surface exploration budget will be $24 million compared with $22.5 million in 1987. Michael Knuckey, vice-president, exploration, says the proportion of expenditures in su…

Hudson Bay Exploration and Development, a wholly-owned subsidiary of Hudson Bay Mining & Smelting, will again be concentrating its exploration efforts in northern Manitoba and Saskatchewan in 1988. Th…

Last year, Noramco Capital gave a dazzling display of coast-to-coast ** fund-raising that netted about $60 million. This year, the company will narrow the field of prospects and concentrate on specifi…

Granges Exploration has reduced its budget this year, cutting $2.5 million from the $12.5 million spent last year on the search for base and precious metals. Of the current $10-million allocation, 1…

Thanks to the sale, late last year, of the Copper Rand and Portage mines in Chibougamau, Que. to Western Mining of Australia, Northgate Exploration is a cash-rich explorer. Cash and investments total …

Getty Resources is exploring and developing five major projects in Canada financed by $10 million in 1987 flow-through share issues. It has a sixth project in Nevada, which is funded from working capi…