Miner Details (March 30, 1992)
Shareholders, like voters, are in a prickly mood, a sign no doubt of these tougher times. Downwardly mobile investors are no longer hesitant to criticize sweetheart deals, writedowns, management entre…
News
Industry job trend in decline
The employment decline in Canadian mineral industries which began in 1990 continued in 1991. Reductions brought direct employment in mining and primary metals to 138,343, down 5% from 1990 and the low…
RICHES TO RAGS: — Despite his remarkable gold find, Sam Napier
The two men stealthily filled the hole and pulled their crude plank table over the spot. Then they shuffled about on the tent’s earthen floor in an attempt to wipe out all evidence of their midnight e…
Minnova to fund Pend Oreille
By spending $500,000 on exploration and development at the Pend Oreille lead-zinc project in Washington within the year, Minnova (TSE) will be granted the exclusive option to acquire Kerr Addison Mine…
Atlantic exploration in need of a lift
A stagnant gold price and a dearth of new discoveries continue to inhibit the flow of exploration capital into the provinces of Nova Scotia and New Brunswick. Nova Scotia’s Department of Natural Resou…
Gold an exception to declining reserve trend
Compared with 1981, Canada’s reserves of copper, nickel, zinc and silver in 1991 were down by about one-third. They dropped by almost 40% for lead and were off by 65% for molybdenum. Although reserves…
Caledonia to buy Czech mining house
A subsidiary of Toronto-based Caledonia Mining (TSE) has signed a letter of intent to purchase a 97% interest in Kamenolomy Strkopleskovne (KS), a Czechoslovakian industrial minerals mining company. C…
Sherritt Gordon reports profit
Despite the recession and weak commodity prices, Toronto-based nickel refiner and fertilizer producer Sherritt Gordon (TSE) stemmed the flow of red ink in 1991 to report a profit. For the year ended D…
Eurus drops Spectrum option
Chet Idziszek has spent much of this year dropping exploration projects in northwestern British Columbia, the latest being the Spectrum gold property in the north Iskut area of British Columbia. Idzis…
Timmins Nickel adds reserves to Dome Mountain mine
Toronto-based Timmins Nickel (TSE) recently reported some encouraging new developments at its Langmuir nickel project near Timmins, Ont., and at the Shaw Dome gold mine in British Columbia. Timmins Ni…
Who will find the first Canadian diamond mine?
Several months have passed since 81 small diamonds were discovered in a kimberlite pipe 200 miles northeast of Yellowknife, N.W.T. In the meantime, more than 5,000 square miles have been staked in the…
U.S.REPORT (March 30, 1992)
Mining always has been considered risky and subject to cyclicality. The traditional categories of risk — price, technical and political — are familiar and reasonably well understood. It is the task …