Kam-Kotia capable of paying loan
Toronto-based Kam-Kotia Mines (TSE) has enough cash on hand to pay off a $3.5 million bank loan it negotiated a year ago to help acquire a sodium sulphate business in Saskatchewan, President John Kach…
News
Record first quarter for American Barrick
Thanks to a lucrative hedging program and expanded gold production at seven North American mines, American Barrick Resources (TSE) achieved record earnings and cash flow during the first quarter of 19…
Homestake earnings battered by higher costs
Higher production costs and lower gold prices have hurt the first-quarter earnings of Homestake Mining (NYSE) for 1989. The company saw its net income decline to $7.1 million(US), or 7 cents a share,…
Battle Mountain earnings lower
Battle Mountain Gold (NYSE) reported net income of $10.8 million(US) or 16 cents per share in the first quarter of 1989 compared to $15.8 million or 24 cents last year. The decrease was largely attr…
Oneida’s Mexican Hat bet optioned by Placer Dome
The American subsidiary of Placer Dome Inc. (TSE) has acquired an option on Oneida Resources’ (VSE) Mexican Hat gold property in Arizona. Placer has the right to earn a 60% interest by buying 400,000 …
Metal Prices FUTURES PRICES (May 08, 1989)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) May135.00 131.10 131.25 — 7.05 Jul130.10 127.10 127.40 — 8.00 Sep126.50 123.50 1…
Vancouver Stock Exchange Calpine recovers to lead slow week
Market activity in Vancouver slumped in the past week in response to declining gold prices and the continued use of high interest rates to keep the lid on inflation. The market remained stagnant at pr…
Canyon Resources sees improved earnings in 1989
Production from the new Kendall gold mine near Lewistown, Mont., is expected to improve the financial bottom line of Canyon Resources (NASDAQ) this year. The Colorado-based company reported a net loss…
Noranda ups Butte stake
Noranda Inc. (TSE) has purchased a further 300,000 shares of Crown Butte Resources (VSE), raising its stake in Butte to 26.5%. The deal, an off-market transaction, was exercised under a share option a…
Dickenson unaffected by take over
The takeover of Dickenson Mines (TSE) by Goldcorp Investments Ltd. of Toronto seems to have barely interrupted the operations of the gold producer. “It’s business as usual,” President John Kachmar tol…
RFC to re-open former zinc mine
Following a trend established in the gold mining industry, base metal producers are beginning to look at re-activating old mines. Companies are taking a hard look at old zinc producers like the Pend O…
Geddes to spend $10M
Toronto-based Geddes Resources (TSE) plans to spend $10.8 million this year on its Windy Craggy copper-cobalt-gold prospect in northwestern British Columbia. The aptly named Windy Craggy property is l…