Inco to invest in African diamonds
Nickel producer Inco (TSE) will try its luck in the diamond business after signing an agreement with the government of Ghana. In a joint announcement with Lazare Kaplan International, a New York-based…
News
Northgate’s quarterly profit fails to offset 6-month loss
While gold production within the Northgate Exploration (TSE) group was up during the first six months of this year, the Toronto-based firm was forced to break out the red ink. Northgate reported a net…
Great Lakes concludes deal
An agreement providing Great Lakes Minerals (TSE) with a 100% interest in five copper deposits (543-S, G-2, G-12, G-13 and St. Louis) in northern Michigan has been concluded, the company reported. In …
Coup has little impact on metal prices
While the recent crisis in the Soviet Union sent shock waves around the world and briefly threatened to end the new spirit of perestroika, the episode had almost no effect on metal prices. As news rea…
Native hiring policies fall short of original goals
For some time now provincial governments and Ottawa have encouraged mining companies to adopt pro-native, pro-northern resident hiring practices. Companies, anxious to win support from local residents…
NEWS IN BRIEF (September 02, 1991)
Ojibway Resources Ltd. (OJB:ME) has changed its name to Consolidated Ojibway Resources Ltd. (COJ:ME) with a consolidation of capital on a 1-new-for-4-old share basis. The transfer agent is Central Gua…
Tantalus moving drill to test new zone at Treaty Creek
A drill rig is being moved to test the recent discovery of a new zone of base and precious mineralization on the Treaty Creek property in northwestern British Columbia. The prospecting discovery was m…
Spot prices at a glance (September 02, 1991)
Week’s Price (US) Change Gold* $355.30 – $ 0.90 Silver* $ 3.95 + $ 0.02 Platinum*$339.90 – $ 5.60 Nickel**$ 3.56 – $ 0.16 Lead** $ 0.24 $ 0.00 Copper $ 1.03 + $ 0.03 Zinc $ 0.46 – $ 0.01 Courtesy of S…
Teddy Bear, Card Lake settle dispute
Teddy Bear Valley Mines (CDN) has reached a settlement with a former director and his company, Card Lake Resources (CDN), over five patented claims in Holloway Twp., Ont. Under the settlement, Teddy B…
Brinco suffers first-half loss
Consolidated Brinco (TSE) recorded a net loss of $958,000 during the first half of 1991 compared with a loss of $671,000 for the same 6-month period last year. A second-quarter loss of $422,000 was re…
Madsen Gold plans study of old Red Lake mine
Bringing the former Madsen gold mine near Red Lake, Ont., back into production after a 15-year absence could be a long and costly process, says James Morlock, president of Toronto-based Madsen Gold (T…
Mining companies announce layoffs
Layoffs were announced this summer at several British Columbia mining operations, the most recent affecting 98 employees at the Myra Falls underground copper-zinc mine complex operated by Westmin Reso…