Denison closing Elliot Lake mine
Ontario Hydro has already begun shopping around for new uranium sources to replace the amounts supplied under recently cancelled long-term contracts signed with Denison Mines (TSE). While uranium prod…
News
Goldbelt to consolidate
With a view of making its shares more attractive to potential investors, Goldbelt Mines (VSE) is proposing a 1-for-2 consolidation of its share capital. The company has 16,748,024 shares outstanding …
Smelter problems lower Cominco earnings
Cominco President Robert Hallbauer didn’t mince words at the company’s recent annual meeting when he called 1991 first-quarter results “terrible,” or 1990 “a difficult year.” The company’s problems a…
Vancouver Stock Exchange Takeover bid could stir market
Trading activity in Vancouver may be stuck in a sideways pattern, but some observers think things could change if a takeover battle begins to heat up over St. Philips Resources. Today, May 1, El Cond…
LETTERS TO THE EDITOR Walli nomination receives support
Regarding the article “Haileybury teacher should be recognized” (T.N.M., Apr. 22/91), I fully support Russell Thompkins’ nomination of Ozzie Walli to the Canadian Mining Hall of Fame. I met Ozzie shor…
LETTERS TO THE EDITOR Quotation taken out of context
I am writing with regard to an article, “Trip heightens analysts’ enthusiasm for Chile” (T.N.M., April 15/91), in which our gold analyst was quoted. I am concerned that the quotation attributed to Ele…
Minnova rethinks strategy after Samatosum
The original investments Minnova (TSE) made in the Winston Lake and Ansil mines have been paid off, and the company is in the enviable position of having a substantial cash balance, shareholders learn…
Underground nixed at Big Bell
The companies involved in the Big Bell open pit mine in Western Australia recently announced that proposed development of an underground mine on the property will not proceed. The mine is owned by jo…
NovaGold to buy Mt. Pleasant bet
A letter of intent has been signed by NovaGold Resources (TSE) with Billiton Metals Canada and LAC Minerals (TSE) which will permit NovaGold to purchase the Mount Pleasant tin-molybdenum-tungsten prop…
PEOPLE WINSLOW GOLD
Gerald Ross appointed chairman of the board and chief executive officer; Hugh Ross appointed president and chief financial officer; Ketan Panchmatia appointed secretary/treasurer.
Noranda in search for new reserves
The minerals division of Noranda (TSE) maintains one of the largest exploration programs in the Western world and is currently testing more than 600 properties directly and in conjunction with partner…
FINANCING (May 06, 1991)
Williams Creek Explorations Ltd. — 900,000 shares offered @ 50 cents per share. Jordex Resources Inc. — 400,000 shares offered @ $2.03 per share. Thios Resources Inc. — 1,500,000 units consisting o…