U.S. REPORT Newmont Australia in BHP takeover
An affiliate of Newmont Mining (NYSE), Newmont Australia, recently acquired control of BHP Gold Mines from BHP’s parent, Broken Hill Pty. Co. of Australia, in a stock swap. Newmont Australia purchased…
News
Adonos, Lyon Lake commence drilling
Drilling is under way at the Beta Vargas gold property in Costa Rica, Adonos Resources (VSE) and Lyon Lake Mines (ME) report. A 21-hole drilling program is planned to confirm and possibly upgrade a pr…
U.S. REPORT Kerr Addison closes grip on RFC board, plans Pend
Kerr Addison Mines (TSE) is moving to take a tighter grip on 44% owned RFC Resource Finance (TSE) before continuing with exploration on RFC’s wholly owned Pend Oreille zinc project in Washington. With…
Commodity index on the rebound
Helped in part by rising base metal prices, the all-commodity price index of Scotiabank, on the rebound since the first quarter of the year, is riding slightly above levels of 12 months ago. In Septem…
Financiers prefer multinational giants
Independent miners, pitted against multinational giants, will have difficulty raising money from financiers, said Bob Parsons, chairman of Toronto-based Price Waterhouse’s mining industry services gro…
$43-per-oz. improvement for Dome
The manager of Placer Dome’s (TSE) Dome mine in Timmins says the company hopes to reduce its average production costs by as much as US$43 per oz. Robert Perry made the comment at the conclusion of a 6…
COATS (Over-the-counter) Costigan soars
As share values moved to record lows last month, total trading volume jumped to 28.7 million, up 27% from September’s volume. “People are being forced out of the market as the shares weaken,” explaine…
Old tailings pond spills its banks
Heavy rains in mid-October caused an old tailings pond in northeastern Ontario belonging to Matachewan Consolidated Mines (TSE) to overflow and spill into the Montreal River, contaminating the water s…
Obituaries Bruno Goetting managed Beaverdell
Bruno Goetting, former mine manager of Teck Corp.’s Beaverdell (Highland Bell) mine died recently in Penticton, B.C. He was 68. Born in Germany, Goetting received his early education in Hanover. He st…
NEWS IN BRIEF Wkay Resources
Wkay Resources Inc. (WKA: VSE) has changed its name to Magnatron International Corp. with no consolidation of capital. The new company has no interest in mining.
Alberta Stock Exchange Volumes lacklustre (November 12, 1990)
Trading volumes slumped during the report period ended Nov. 6 as investors stayed clear of the market to await signs of a recovery in the economy. Despite strength in the gold price, a number of junio…
Montreal Exchange Normetal drilling
A major drilling program is just getting under way on the Normetal property north of La Sarre, Que. Cominco has earmarked $1.4 million to explore for deep massive sulphides on the 26,000-acre property…