Island Copper workers secure hefty increase
Unionized workers at BHP- Utah’s Island Copper mine at Port Hardy on Vancouver Island recently approved a 2-year contract which will yield a 17.56% wage increase over the life of the agreement. In add…
News
Dumagami shareholders urged to reject Agnico-Eagle merger plan
Montreal businessman Jacques Forget says he will ask minority shareholders of Dumagami Mines (TSE) to vote against a merger plan tabled recently by Agnico-Eagle Mines (TSE). Forget, who holds a 16% st…
Noranda Inc. serves notice of Falconbridge share plan
Toronto-based Noranda Inc. (TSE) recently indicated to the Toronto and Montreal stock exchanges that it may buy more shares of Falconbridge Ltd. (TSE) if and when prices are right. Noranda already hol…
COATS (over-the-counter) (June 05, 1989)
The dispute between Atlantic Goldfields and Jascan Resources was successfully resolved last week with Atlantic selling its 39.7% interest in Jascan for $3.8 million. Atlantic will also sell its intere…
Toronto Stock Exchange Gold index firms despite falling bullion
The gold price and gold index appear to be diverging. Bullion on the second London fix dipped to $361.80 today whereas the gold and silver index continued to display resilience in light of bullion’s h…
Hydra expects cash flow
Hydra Explorations (TSE) is expecting royalty payments of about $1 million per year from its interest in the Colomac gold mine in the Northwest Territories. Owned by Neptune Resources (TSE), the Colom…
INSIDER TRADES (June 05, 1989)
Atlanta Gold — O. Tolpinrud bought 1,400 (Apr) @ $2.65 to hold 144,051. Belmoral — A. Brown sold 24,000 (Apr) @ $1.16-$1.23 to hold 184,278. F. Brown sold 2,000 (Apr) @ $1.23 to hold (amended) 13,79…
Bond restructures Australian assets
A restructuring has been completed involving Bond International Gold’s (TSE) Australian affiliates, North Kalgurli Mines (NKM) and Gold Mines of Kalgoorlie (GMK). Bond recently tendered its 40% holdin…
Cominco funds nickel smelter rehabilitation
Cominco Resources’ (TSE) wholly-owned subsidiary, Cominco American Resources, has approved funding to rehabilitate the smelter at the Glenbrook nickel facility in Riddle, Ore. Glenbrook Nickel, a 100%…
Glen Auden/Placer sign agreement
Glen Auden Resources (TSE) has signed a letter of intent giving Placer Dome (TSE) the right to earn a 51% interest in Glen Auden’s Verse Lake property near Timmins, Ont. Placer can earn its interest b…
Metal Prices (June 05, 1989)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date May 30 May 29 May 26 May 25 May 24 Copper 1696-16…
Editorial Passing grades for environmental policy
The Mining Association of Canada gets a B for its new environmental policy unveiled at the association’s recent annual meeting in Ottawa. It gets good marks for effort, but somewhat less for content. …