Lornex boosts earnings
Unaudited net earnings of $44.2 million ($5.35 per share) for the first nine months of 1988 were recorded by Lornex Mining (VSE), compared with $26.8 million ($3.25 per share) for the same period last…
News
Toronto Stock Exchange Small but steady gains help index advance
A spate of buying has crept back in the markets as evidenced by the steady gains in the composite index. Today’s 5.67-pt advance moved the composite to 3,430.15 pts — up 50 pts for the week. Today’s …
Futures Prices Metal Prices
N.Y. Commodity Exchange Copper (in UScents per lb Oct 141.00 139.10 139.40 +1.40 Dec 137.50 130.50 134.40 +6.60 Jan 132.00 130.00 128.40 — Silver (in US cents per oz) Oct …
Gold Standard Mercur suit is old-fashioned slugfest
A court case involving Gold Standard Inc. (NASDAQ) and American Barrick Resources (TSE) has turned into a legal slugfest. The dispute involves the Mercur mine in Utah in which Gold Standard presently …
Athena;s Talapoosa gold/silver project being evaluated by
Several consulting firms have been engaged by Athena Gold Corp. (VSE) to conduct independent verification of significant portions of the known data on its Talapoosa gold and silver property in western…
OSC blocks Noranda’s move
The Ontario Securities Commission has temporarily blocked Noranda Inc’s (TSE) move to increase control of Falconbridge Ltd. (TSE). Citing pre-bid integration rules, the Commission has stopped Noranda’…
CIL restructured by Imperial
C-I-L Inc has been restructured by its parent Imperial Chemical Industries PLC. The move includes the establishment of a world explosives business headquarters in Canada. ICI purchased a 27% interest …
Virginia Gold starts drilling campaign
A drilling program totalling 12,000 ft has been started on two properties in the state of Virginia in the United States, Virginia Gold Mines (ME) reports. The drilling will be performed on the Hughes …
Brunswick earnings
Net earnings from operations of $6.76 million (19 per share) were reported by Brunswick Mining and Smelting (TSE) for the third-quarter of 1988 compared with $17,000 for the same period last year. Val…
Gold at Gilt Edge
The first dore button containing an estimated 207 oz of gold and 327 oz of silver has been poured at the Gilt Edge mine in the northern Black Hills area of South Dakota. The event marked the start-up …
Editorial Flin Flon shouldn’t suffer for apartheid
Hudson Bay Mining & Smelting’s request for help from the federal and Manitoba governments to modernize its smelter at Flin Flon, Man., has raised an unwarranted level of hysteria. Rhetoric from those …
Bear market cost jobs (October 31, 1988)
The bear market combined with the spate of bank takeovers of Canadian brokerage firms is proving too much for some firms, which have been forced to cut back staff. Sources from London tell us that Sco…