Tundra writeoff cuts Hemlo Gold’s earnings
A $10.8-million writeoff of exploration expenditures from the huge Tundra gold project in the Northwest Territories was reflected in the 1989 annual earnings of Hemlo Gold Mines (TSE). The company rec…
News
People (February 26, 1990)
BRANER RESOURCES — Mark Wallbom appointed to the board of directors.
Jonpol deepens shaft
An exploration shaft on Jonpol Explorations (TSE) and T&H Resources’ (TSE) joint venture property in Garrison Twp., Ont., will be deepened to 680 ft. from 500 ft., the companies say. Jonpol has arrang…
U.S. Gold Project
Due to construction cost overruns and delays at the Tonkin Springs project near Eureka, Nev., owner U.S. Gold (NASDAQ) is experiencing significant liquidity problems. The Tonkin Springs project began …
Casa Berardi property focus of a legal dispute
News of a gold find in Douay Twp. in the Casa Berardi area of northern Quebec has created a stir in the mining industry and indirectly sparked a legal dispute. Inco (TSE), Societe d’Exploration Minier…
Scramble Mining ends deal with Madeleine on Kenora gold bet
Scramble Mining, a wholly owned subsidiary of Boise Cascade, has terminated its joint venture agreement with Madeleine Mines (TSE) on the Scramble gold project, six miles from Kenora, Ont. The company…
Westmin slaps lien on partners at Premier Gold
The new Premier Gold mine near Stewart, B.C., is producing more problems than gold for operator Westmin Resources (TSE) and joint venture partners, Pioneer Metals (TSE) and Canacord Resources (TSE). A…
Garnett named MILUS chairman
The new chairman of MILUS, or Mining Industry Land Use Strategy, is J.A. (Jack) Garnett. MILUS is a collective initiative of the Mining Association of Canada, the Prospectors and Developers Associatio…
Spirit Lake deals to fund Edwards bet
Spirit Lake Explorations (ME) of Toronto says it has finalized a flow-through share financing with Q-Vest 1989 Mining Exploration of Montreal for $225,000 at $1.85 per share. In addition, private plac…
Toronto Stock Exchange Investors take cover as CEIP killed in
Investors continued to stay out of the market today, Feb. 21, as they waited for the dust to settle on Federal Finance Minister Michael Wilson’s sixth budget. Designed to trim the deficit from $30.5 b…
Platinum producers merging interests
Two major companies operating in South Africa, Impala and Lonrho, are consolidating their platinum interests. Impala, that country’s second largest platinum producer, will swap control of its developi…
B.C.”s coal and copper star performers
The 1989 value of British Columbia’s mineral and petroleum products rose 5% from 1988 totals to reach an estimated $4.16 billion, according to figures released by Energy, Mines and Petroleum Resources…