NEWS IN BRIEF (August 05, 1991)
Estaurum Mines Ltd. (EMM:ASE) has changed its name to Westaurum Industries Inc. with a consolidation of capital on a 1-new-for-1-old share basis. The transfer agent is Central Guaranty Trust.
News
Golden Bear losses mount
Depressed gold prices and high operating costs at the Golden Bear mine are translating into further losses for North American Metals (VSE). The company reported a net loss of $963,000 for its second q…
Prime settles with Tagish
Now that an agreement has been reached with several parties challenging title to the TOK 3-6 claims, partners Prime Resources Group (VSE) and Stikine Resources are expected to have no problems applyin…
Stratabound gets backing for exploration from Teck
Calgary-based junior Strata-bound Minerals (ASE) has finally found a major company willing to finance exploration on its New Brunswick base metal properties including the Captain North Extension lead-…
ICA elects three new members
Recently the International Copper Association elected three member companies at its board of directors’ spring meeting in New York City. They are Escondida Limitada from Chile, Ok Tedi Mining from Pap…
Cominco’s quarterly profit down sharply from last year
A consolidated profit of $7.3 million was reported by Cominco (TSE) for its 1991 second quarter ended June 30, compared with earnings of $23.2 million in the second quarter of 1990. The Mining and Int…
Westmin decides to mine Gap zone at Myra Falls
Management of Westmin Resources (TSE) recently decided to start development access of the Gap zone from the 18 level in the H-W mine at its Myra Falls mining operation near Campbell River, B.C. The Ga…
Toronto Stock Exchange Indices (August 05, 1991)
July 30 July 29 July 26 July 25 July 24 High Low Composite “300” 3548.86 3530.27 3524.72 3523.56 3518.62 4009.47 3009.91 Metals & Minerals3249.29 3209.89 3205.15 3229.12 3212.25 3453.06 2502.63 Integr…
Dickenson boosts earnings despite lower gold production
Lower gold output at its Arthur White mine near Red Lake, Ont., hasn’t prevented Toronto-based Dickenson Mines (TSE) from improving its earnings in the second quarter and first half of this year. In t…
Spot prices at a glance (August 05, 1991)
Week’ Price (US) Change Gold* $363.60 -$ 3.40 Silver* $4.07 -$ 0.16 Platinum* $362.00 -$12.25 Nickel** $3.67 -$ 0.08 Lead** $0.25 $ 0.00 Copper $1.02 +$ 0.02 Zinc $0.48 $ 0.00 Courtesy of Scotiabank. …
Guest Column (August 05, 1991)
At the turn of this century, Sir Wilfrid Laurier asserted that the 20th century would mark the coming of age of Canada as an economic power. Some 50 years later, Prime Minister John Diefenbaker espous…
Echo Bay sets Swiss bond terms
Denver-based Echo Bay Mines (TSE) recently started to convert its Swiss franc 3.87% bonds due 1996 into common shares. The conversion offer will expire Oct. 28. At the option of the bondholders, each …