Inco reports hefty loss
A dismal performance from the company’s primary metals business led to a US$5.8-million loss for Inco (TSE) in the fourth quarter of 1991, compared with earnings of US$72.6 million for the same period…
News
METAL PRICES (February 10, 1992)
London Metal Exchange pot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Feb 4 Feb 3 Jan 31 Jan 30 Jan 29 Copper 1202-1203 1204-1205 1220-1221 1222-1224 1211-…
Agnico’s Joutel mines to close
Unless exploration yields a big discovery around Agnico-Eagle Mines’ (TSE) Joutel Division north of Val d’Or, Que., the aging Eagle and Telbel gold mines are likely to close by April, says President P…
Industry favors fly-in operations
We are surprised that David Johnston takes issue in his letter to the editor (T.N.M., Oct. 14/91) with our research findings cited by Olav Svela (T.N.M., Sept. 2/91) with respect to the growth of comm…
Alberta Stock Exchange — Kingswood active
Active Kingswood Explorations 1985 has started up a drilling program on its 60-claim gold property at Eastmain, Que., where surface work indicated a number of anomalies. The company, whose stock slipp…
PRODUCER PRICES; FUTURES PRICES; PDAC cites Sandy Lake to
A new agreement between the federal and Ontario governments and the Nishnawbe-Aski First Nation has caused a lot of problems for Sandy Lake Resources. The private company has been prospecting on minin…
Asarco drops Col project (February 10, 1992)
A unit of Asarco (NYSE) recently withdrew from a joint venture with Kookaburra Gold (VSE) to explore the Col copper-gold project in the Mt. Milligan area north of Prince George, B.C. Kookaburra is now…
Kingswood hits gold-bearing veins
A drill hole recently completed on Kingswood Explorations’ (ASE) Devon gold property northeast of Matheson, Ont., intersected three narrow, steeply dipping quartz veins containing high-grade gold. Res…
Two Canadian firms upgrade Russian plant
Joint venture partners Watts, Griffis and McOuat and Cominco Engineering Services are proceeding with their plan to design a process control system and to upgrade the milling capacity at a Russian gol…
Taking lessons from Mount Milligan
Placer Dome’s $266-million writedown of its Mount Milligan project in British Columbia was unequivocal acknowledgment that it had made a mistake. The company simply paid too much for a project that di…
Cliff dealings
Cliff Resources (TSE) reports it hasn’t decided to exercise its right to acquire a 100% interest in Teranov Mining, which owns a wet-process asbestos milling operation at Baie Verte, Nfld., under an a…
Underground work boosts tonnage at Sterling mine
Recent underground development by Cathedral Gold (TSE) at its 52% owned Sterling mine increased tonnage such that the current reserve is the largest in the mine’s history. Located near Beatty, Nev., t…