Westar losses on the rise
Troubled coal producer Westar Mining (TSE) reported a loss of $9.3 million for the three months ended June 30, which pushes the company’s loss for the first six months of the year to $15.7 million. We…
News
LETTERS TO THE EDITOR — Applicant twice denied Ontario
My application for an Ontario Prospectors Assistance Program grant was made in 1991 and 1992 and for both years turned down. In this regard I am compelled to condemn the approval for application for t…
Mayor concerned about gold sales
The mayor of this northeastern Ontario city is encouraging other gold-dependent communities to lobby together against the sale of the yellow metal from federal government reserves. Mayor Vic Power say…
Asamera becomes private company
Shareholders of Asamera Minerals (TSE) recently voted in favor of a proposal to privatize the company effective Aug. 1. Minority shareholders will receive $1.40 per common share under the terms of the…
PEOPLE — MERCUR MINE
Clay Landa appointed vice-president and general manager.
PEOPLE — SASKATCHEWAN ENERGY AND MINES
Dan McFadyen appointed assistant deputy minister of resource policy and economics.
Newmont Gold output on target
Gold production of 796,700 oz. was reported by Newmont Gold (NYSE) for the first half of 1992, compared with 792,700 oz. for the same period last year. Targeted gold production for 1992 is 1.6 million…
Dealing in diamond prospects sustains exploration activity
Activities related to the hunt for diamonds continue on several fronts across Canada. In the Northwest Territories, Leeward Capital (VSE) and Skeena Resources (VSE) report signing a letter of intent t…
Calgary site of conference
The Second International Conference on Environmental Issues and Management of Waste in Energy and Mineral Production is scheduled for Sept. 1-4 in Calgary, Alta. Organized in part by the University of…
Spot prices at a glance (August 10, 1992)
Week’s Price (US) Change Gold* $352.90 – $5.30 Silver* $ 3.88 – $0.06 Platinum* $377.35 + $3.35 Nickel** $ 3.34 – $0.03 Lead** $ 0.30 + $0.01 Copper $ 1.13 – $0.01 Zinc $ 0.61 $0.00 Courtesy of Scotia…
Noranda, Rhonda to test Woolgar
Drilling is expected to commence on the Woolgar copper property in the Northwest Territories in early August, reports Rhonda Mining (ASE). Noranda (TSE), as owner and operator of the 37,375-acre prope…
METAL PRICES — FREE MARKET (August 10, 1992)
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Aug. 4 Aug. 3 July 31 July 30 July 29 Copper 1298-1299 1293-1294 1340-1341 1308-1309…