LETTERS (August 02, 1991)
A Lamentable Decline First of all, my compliments on the March issue, which was excellent (as are most of the issues). I want to comment on Don Cranstone’s article on exploration expenditures and the …
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PRODUCER PRICES (July 29, 1991)
ALUMINUM: MW U.S. Market US60-61 cents per lb. (Jul. 2, 1991). ANTIMONY: New York dealer US84-85 cents per lb. (Mar. 14, 1991). BISMUTH: New York dealer US$3.05-3.15 per lb. (Jun. 27, 1991). CADMIUM: …
View from the West (July 29, 1991)
The Canadian exploration sector is now halfway through a very difficult year. In British Columbia, however, the news is both good and bad. The bad news is that financings of junior mining companies ha…
Chutine finds partner for Mexico
About one month after American Barrick Resources (TSE) dropped its option on the Amelia 7 gold property in Mexico, Toronto-based Chutine Resources (TSE) has found another company willing to finance ex…
Shareholders approve Tenajon merger
Shareholders of Tenajon Resources (VSE) and Royal Scot Resources (VSE) recently approved a proposal to merge the two companies. The amalgamation is still subject to final regulatory and court approval…
Agreement signed on Andacollo
A unit of Placer Dome (TSE) recently concluded an agreement with a Chilean government mining corporation for evaluation and possible development of the Andacollo copper deposit in northern Chile. The …
B.C.’s mining industry reeling after $95-million loss in 1990
The fortunes of British Columbia’s mining industry continued a downward trend in 1990, with coal operations being particularly hard hit and the industry suffering an aggregate loss of $95 million for …
Operating costs up at Hemlo Gold
Hemlo Gold Mines (TSE) reported earnings of $8.6 million (10 cents per share) for the second quarter compared with $1 million for the same period last year. The 1990 income included the writedown of H…
Hemlo completes gold acquisition
The transfer of Noranda’s (TSE) gold assets to Hemlo Gold Mines (TSE) is complete. In exchange for 8.61 million of its common shares, Hemlo acquired all of Noranda’s gold assets including joint ventur…
Wheaton shares start trading
Shares of Wheaton River Minerals (TSE), the first new junior mining company to be cleared for listing on The Toronto Stock Exchange this year, began trading recently at around 43 cents. With 5.9 milli…
Falconbridge hit by metal slump
Toronto-based Falconbridge, the western world’s second largest nickel producer reported net earnings of $9.9 million in the three months ended June 30, down from $26.8 million in the same period last …
Drilling starts at Paydirt
A diamond drill program has started on the Paydirt property to test several targets outside the Paydirt deposit which contains preliminary reserves of 204,000 tons grading 0.12 oz. gold per ton. The p…