Spot prices at a glance (April 30, 1990)
Week’s Price (US) Change Gold* $374.80 + $0.10 Silver* $5.02 — $0.07 Platinum* $480.75 + $2.75 Nickel** $4.29 + $0.36 Lead** $0.37 — $0.01 Copper- $1.22 Zinc $0.80 + $0.06 Courtesy of Scotiabank. In…
News
Montreal Exchange: Prices in decline (April 30, 1990)
The decline continued on the ME, with the market portfolio down more than 61 points and the mining and minerals index off by more than 92 points for the week ended April 24. Daily trading volumes were…
The Inco barometer
If there’s one company that is synonymous with Canada’s mining industry, it’s Inco. That’s not to say that the nickel producer represents all things about Canadian mining. It doesn’t. Looking at Inco …
Insider Trading Aur, Stikine execs. primed for windfall
Over the past couple of months, mining insiders were busily increasing their exposure to any future developments at the Eskay Creek, B.C., and Louvicourt Twp., Que., exploration projects. Buyers inclu…
Manville seeking buyer for its stake in Stillwater mine
Denver-based Manville (NYSE) is looking to sell its 50% interest in the Stillwater mine, the world’s only economically viable primary source of platinum group metals outside South Africa. Manville, an…
Money-losing Hope Brook keys on four problems
Management of Hope Brook Gold (TSE) is under heavy pressure this year to bring about a turnaround in operations at the company’s problem-plagued gold mine on the southwest coast of Newfoundland. Last …
Fairfield to spend $1.1 million on B.C. properties
This season Fairfield Minerals (TSE) plans to spend about $1.1 million to further explore its prospective 160-sq.-mile landholding in the Okanagan district of southern British Columbia. The bulk of th…
Barrick gold output at quarterly record
Record gold production, earnings and cash flow were reported by American Barrick Resources (TSE) for the first quarter of 1990. Net income increased to US$13.1 million (10 cents per share) on a fully …
Quarterly loss for Sherritt
The balance sheet of Sherritt Gordon (TSE) tumbled into the red during the first quarter of the year. The metal refiner and fertilizer producer recorded a net loss of almost $2 million for the 3-month…
U.S. Report Homestaker doubles first-quarter profit
San Francisco-based Homestake Mining (NYSE) reports increased first-quarter net income of $13.2 million, or 13 cents per share, almost double last year’s first-quarter earnings of $7.1 million, or 7 c…
Former DRX head files lawsuit
Robert Clarke, former president of DRX (NASDAQ), has filed a lawsuit seeking to invalidate the election of a slate of directors at the company’s recent shareholder meeting in Delaware,. DRX is a preci…
Rio Algom wrestles with low-grade N.S. tin mine
After reporting reduced annual earnings of $73.1 million in 1989, Rio Algom (TSE) is preparing for what could well turn out to be another lacklustre year in its profit picture. The company was hit har…