Sphinx buying into gas well
Societe Miniere Sphinx (VSE) is diversifying into oil and gas. President Michel David said his company has bought (subject to regulatory approval) a 15% interest in a gas recompletion well in Alberta …
News
Noranda set to close Mattabi, Lyon Lake base metal divisions
Noranda Minerals, a unit of Noranda (TSE), has decided to shut down operations this spring at its Mattabi and Lyon Lake base metal divisions, about 80 km north of Ignace, Ont. The company cited recent…
Minera Rayrock, Battle Mountain in joint venture
A 50-50 joint venture has been formed between Minera Rayrock (TSE) and Battle Mountain Gold (TSE) for the purpose of exploring a number of gold properties in Costa Rica. Initially, Battle Mountain wil…
Horsham profitable after quarter loss despite oil, gold markets
Despite extreme volatility in the oil markets, weak gold prices and a US$4.2-million fourth-quarter loss, Toronto-based Horsham (TSE) had another profitable year. Horsham, which controls gold producer…
A strong exploration year for British Columbia
The British Columbia & Yukon Chamber of Mines, founded in Vancouver in 1912, recently held its 79th annual general meeting at the Eighth Annual Cordilleran Geology and Exploration Roundup. A record nu…
Write-off puts Wharf in red
Toronto-based gold producer Wharf Resources (TSE) reported a loss of US$5.8 million (33 cents per share) for the year ended Dec. 31, 1990, after the company wrote off its US$11.5-million investment in…
PEOPLE ARMENO RESOURCES
Bedo Kalpakian appointed president succeeding Setrak Kalpakian who passed away; Jacob Kalpakian appointed vice2Dpresident and director.
Potash sale to fund Chinese aid projects
The Canadian International Development Agency (CIDA) says it will purchase $4.6 million worth of potash fertilizer from Saskatoon-based Canpotex for delivery to China. Canpotex handles offshore sales …
Vancouver Stock Exchange Tymar, Akiko-Lori, Varitech busy
Both the Vancouver Stock Exchange composite and resource indices staged rebounds over the week ended Feb. 26. The composite index added more than 10 points to finish at the 534 level while the resourc…
No new tax breaks for mining in the latest federal budget
A budget aimed at reducing the federal deficit to $6.5 billion in 1996 from $30.5 billion this year and putting a cap on inflation had nothing in store for the Canadian mining industry. Requests for t…
U.S. REPORT Hecla boosts gold production
A substantial increase in gold production last year enabled Hecla Mining (NYSE) to report 1990 earnings of US$5.1 million, or US19 cents per share, compared with a loss of US$22.4 million in 1989. Hec…
Gauther would sell St. Genevieve Resources
Apparently fed up with waiting for his company’s share price to move upward, St. Genevieve Resources (TSE) Chairman Pierre Gauthier has retained Merrill Lynch Canada to find a buyer for the Montreal-b…