Sandhurst gets interest in Cdn.-United Minerals
Australian- based Sandhurst Mining N.L, through its wholly-owned subsidiary, Levelscope Ltd., has agreed to purchase 19.9% of the outstanding shares of Canadian-United Minerals. The company will spend…
News
Western makes $92-million bid for Nova Scotia gold producer
Terry Coughlan has accomplished what most in the industry only dr eam of. Over the past seven years he has built the largest single portfolio of gold properties in Nova Scotia under the banner of Seab…
LMX among big traders
With 1987 coming to a close most investors are out of the market and are setting strategies for next year. Not surprisingly, some are still licking their wounds from the Oct 19 crash and it will take …
Wharf holding boosts output for Dickenson
Toronto-based Dickenson Mines appears well on its way to boosting its gold output significantly after gaining effective control of Wharf Resources of Calgary. With its 66% interest in the Arthur W. Wh…
PRODUCER PRICES (December 28, 1987)
ALUMINUM: MW U.S. Market 81.50 cents -83.50 cents per lb. (Dec 10, 1987). ANTIMONY: New York dealer $1.12-$1.16 per lb. (Dec 10, 1987). BISMUTH: New York dealer $4.70-$4.80 per lb. (Nov 19, 1987). CAD…
Bresea gold discovery
A prospecting program has discovered two gold mineralized zones in Labrador, Bresea Resources says. Reassaying of old drill core drilled by Hollinger Mines in the 1960s, returned assays of 0.19 oz gol…
Alaska Apollo plans 200 ton/day gold mine
An independent report on Alaska Apollo Gold Mines’ Shumagin gold property on Unga Island, Alaska, estimates the cost of bringing the 200-ton-per-day mine on-stream to be much higher than the company a…
Metal Prices FUTURES PRICES (December 28, 1987)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Dec 131.95 125.00 127.00 + 6.40 Jan 123.50 123.50 123.50 + 7.90 Mar …
Louvem, partners completing drilling at Courvan bet
Encouraged by a drilling campaign just concluding on the Courvan gold property near Val d’Or, Que., are partners Louvem Mines (52%), Courvan Mining (45%) and Aabarock Mining Resources (3%). The curren…
Hope Brook has profit
Hope Brook Gold realized earnings of $149,000 or 1 cents per share for the 3-month period ended Oct 31. Although gold production from the company’s Hope Brook gold mine in Newfoundland began in August…
St. Genevieve funding (December 21, 1987)
Montreal-based St. Genevieve Resources has entered into an exploration financing agreement with Excan Mining Management Ltd. whereby Excan will provide a minimum of $575,000 and a maximum of $3 millio…
Flagship claim option
A joint venture deal has been signed between Flagship Resources and Harroway Resources, a private company in Ontario. Harroway has the right to earn a 50% interest in Flagship’s 26-claim property in M…