Inco Gold profit picture revealed
In the first nine months of the year, Inco Gold, a unit of Inco (TSE), showed a profit of US$6.6 million, compared to a loss of $3.7 million in the year-earlier period. The significantly improved prof…
News
U.S. REPORT Atlas drops into red in first quarter
A drop in both the price of gold and production levels help to explain a loss of US$688,000 for Atlas (NYSE) in its first quarter ended Sept. 30. The results compare to a net income of US$607,000 in t…
NEWS IN BRIEF Coronada Resources Inc.
Coronado Resources Inc. (CRD:VSE) has changed its name to Iron King Mines Inc. (IRK:VSE) with a consolidation of capital on a 1-new-for-3-old-share basis. The transfer agent is Montreal Trust.
FINANCING (December 24, 1990)
Vaalco Energy Inc. — 38,333,333 shs offered @ 60 cents per sh. Golden Eagle Resources Ltd. — 1,500,000 shs offered @ 10 cents per sh.
Pezim vows to fight B.C. trading ban
Murray Pezim is back in Vancouver preparing to 0000,0509 appeal a decision by the British Columbia Securities Commission to ban him from trading on the Vancouver Stock Exchange for a 1-year period. Th…
Golden Bear output below forecast
Losses continue to mount for North American Metals (TSE) as a result of technical problems at the 50% owned Golden Bear mine in northwestern British Columbia. The mine has produced only 10,801 oz. of …
LETTERS TO THE EDITOR Students voice concern over new Mining Act
We are mature students attending, for various personal and career reasons, a course in prospecting at George Brown College’s St. James Campus, Toronto, Ont. We would like to inform Ontario’s Mines Min…
U.S. REPORT Noranda to explore Blue Dog
Ongoing exploration of the Blue Dog gold project near Weiser, Idaho, is to be managed by a unit of Noranda (TSE) under the terms of a recent agreement-in-principle with Gold Canyon Resources (VSE). Sh…
LETTERS TO THE EDITOR Continental drift
I was delighted to see your coverage (Dec. 3/90) of a new contract for Watts, Griffis & McOuat in the Republic of Yemen. Despite certain geologic connections, you should be aware that Yemen is not in …
Echo Bay takes $40-million writedown on Alta Bay venture
Echo Bay Mines (TSE) is taking a substantial writedown on its 40% interest in the Alta Bay joint venture this quarter. The US$39.7-million writedown, which includes half of Echo Bay’s US$41.3-million …
Pioneer settles with Pegasus
A settlement was reached between Pegasus Gold (TSE) and Pioneer Metals (TSE) which, if concluded, will eliminate all debts owed to Pegasus as well as all outstanding legal disputes between the two com…
Cyprus Gold options Tully Twp gold bets
Cyprus Gold Canada, a unit of Colorado-based Cyprus Minerals (NYSE), has optioned a parcel of promising gold claims in Tully Twp., Ont., about 25 miles north of Timmins, Ont. The first deal gives Cypr…