Economic slowdown brings lower prices for gold
Although 1988 is still young, anyone expecting the price of gold to carry on from the high levels of last year may be forgiven for having second thoughts. The precious metal, which closed 1987 at $486…
News
Placer Dome continues working Talisman bet
Placer Dome, which has acquired a large property in the Swayze area of northeastern Ontario previously held by Algoma-Talisman Minerals, plans to complete 9,200 ft of drilling this year in 19 holes. D…
Letters to the Editor Speculators “sole support for juniors”
In the more than 40 years that I have read The Northern Miner I have never felt it necessary to respond to some of the letters you have published, but in the issue of Jan 18/88, under the heading Juni…
Lyon Lake to earn 50% of Mosquito Creek bet
Lyon Lake Mines of Rouyn- Noranda has signed an agreement to earn a 50% interest in Mosquito Consolidated Gold Mines’ Mosquito Creek property in British Columbia. The Mosquito Creek property consists …
Investment Comment Lacana to join ranks of 100,000 oz gold
After reporting a bottom line rebound in 1986 and some sterling acquisitions in 1987, Toronto-based Lacana Mining is preparing to cross an important threshold in 1988. With subsidiary Mascot Gold’s Ni…
Toronto Stock Exchange Plummeting golds send market into tailspin
Continuing nervousness concerning the strength of the North American economies came to a head today as plunging bullion prices led the tse into a nosedive. Gold gave up another $27 this week as it bro…
Westmin, partners plan addit at Debbie/Yellow project
A $5-million exploration program at Westmin Resources’ Debbie/Yellow project near Port Alberni, B.C. will include a 1.2-mile underground adit into the Mineral Creek and Linda gold zones. Nexus Resourc…
Metal Prices FREE MARKET (February 08, 1988)
London Metal Exchange Spot closing prices in Pound Sterling per tonne Date Feb. 2 Feb. 1 Jan. 29 Jan. 28 Jan. 27 Copper 1240-1245 1225-1230 1346-1348 1285-1287 1310-1315 Lea…
Good year for Lac, earnings nearly triple
Last year proved to be a good one for Lac Minerals of Toronto, with the company’s earnings almost tripling compared with 1986. A 9% increase in production, a higher gold price and higher interest inco…
Ottawa, Sask. negotiate merging Eldorado, SMDC
Employees at Crown-owned Eldorado Nuclear Ltd. and the Saskatchewan Mining Development Corp. are waiting anxiously for results of merger talks involving the corporations’ owners. According to recent s…
Pacific and Noranda busy at Oxford Lake
A program of ground geophysical surveys and drilling is under way at the Oxford Lake gold project located about 300 miles north of Winnipeg, Man., Noranda Explora tion and Pacific Trans-Ocean Re sourc…
Metal snips (February 08, 1988)
Turkey is reported to have opened its first silver mine. Forecast by the Turkish government is the processing of 1.1 million tons of ore per year and an annual production of 122 tons silver. Most of t…