Lower base metal prices slash profit at HudBay
Lower copper, nickel and zinc prices added up to a fourth-quarter loss for Hudson Bay Mining & Smelting (TSE) and its parent Inspiration Resources (TSE). HudBay reported a loss of $2.3 million on reve…
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Liberian earnings (March 04, 1991)
Net earnings of US$8.01 per share have been reported by Liberian Iron Ore (TSE) for the year ended Dec. 31. A special dividend of US$11.38 per share has also been declared payable to shareholders of r…
Kingswood options Lithium property
Toronto-based Kingswood Explorations (TSE) has signed an option with a private company to acquire a 22-claim lithium property in Lacorne and Lamotte twps., about 40 km northwest of Val d’Or, Que. King…
U.S. REPORT New tax laws in 27 states a mixed bag, survey finds
A survey of 1990 mining tax legislation showed no clear winners in 27 states, reports Mining Cost Service, a publication of Western Mine Engineering of Spokane, Wash. An assortment of laws were passed…
Health and safety issues should be industry focus
It is politically impossible to rein in a bureaucracy of managerial environmentalists” that has overseen expenditures of US$10 billion since 1980 while implementing and administering Superfund progra…
Spot prices at a glance (March 04, 1991)
Week’s Price (US) Change Gold* $360.00 — $ 3.75 Silver* $ 3.61 — $ 0.09 Platinum* $393.50 + $ 5.50 Nickel** $ 3.92 — $ 0.06 Lead** $ 0.27 $ 0.00 Copper{ $ 1.12 — $ 0.01 Zinc{{ $ 0.55 + $ 0.01 Cour…
Sphinx buying into gas well
Societe Miniere Sphinx (VSE) is diversifying into oil and gas. President Michel David said his company has bought (subject to regulatory approval) a 15% interest in a gas recompletion well in Alberta …
Noranda set to close Mattabi, Lyon Lake base metal divisions
Noranda Minerals, a unit of Noranda (TSE), has decided to shut down operations this spring at its Mattabi and Lyon Lake base metal divisions, about 80 km north of Ignace, Ont. The company cited recent…
Minera Rayrock, Battle Mountain in joint venture
A 50-50 joint venture has been formed between Minera Rayrock (TSE) and Battle Mountain Gold (TSE) for the purpose of exploring a number of gold properties in Costa Rica. Initially, Battle Mountain wil…
Horsham profitable after quarter loss despite oil, gold markets
Despite extreme volatility in the oil markets, weak gold prices and a US$4.2-million fourth-quarter loss, Toronto-based Horsham (TSE) had another profitable year. Horsham, which controls gold producer…
A strong exploration year for British Columbia
The British Columbia & Yukon Chamber of Mines, founded in Vancouver in 1912, recently held its 79th annual general meeting at the Eighth Annual Cordilleran Geology and Exploration Roundup. A record nu…
Write-off puts Wharf in red
Toronto-based gold producer Wharf Resources (TSE) reported a loss of US$5.8 million (33 cents per share) for the year ended Dec. 31, 1990, after the company wrote off its US$11.5-million investment in…