Cominco earnings near 1988 levels
With consolidated 1989 earnings of $214.6 million, Cominco (TSE) slightly exceeded the record earnings of $213.5 million set in 1988 before extraordinary earnings. (After including extraordinary items…
News
Fire River seeks new properties
Fire River Gold (COATS) says discussions are under way with its underwriter to raise new financing for property acquisitions and additional exploration work on its Alice “A” gold-silver property, east…
Echo Bay earnings hurt by Muscocho write-down
Reduced annual earnings were reported recently by Echo Bay Mines (TSE) reflecting the impact of lower gold prices and a US$20- million writedown on the company’s investment in Muscocho Explorations (T…
Mercur ruling in Barrick’s favor
Toronto-based American Barrick Resources (TSE) has won what it regards as a major victory in its legal fight with a Utah-based exploration company for control of the Mercur Gold mine in Utah. Barrick …
Climate a real challenge
Life at a northern project definitely isn’t for those who prefer the bright lights of a big city or being cocooned in an air-conditioned office. As The Northern Miner discovered during a recent visit …
Editorial Exploration could use more support
The mining industry in Ontario is a multi-billion-dollar contributor to the province’s economy and a significant contributor to Canada. To find the mines of tomorrow necessary to continue that role, e…
Golden Shield creditors approve GSR proposal
Creditors of bankrupt Golden Shield Resources have approved unanimously a proposal submitted to the bankruptcy trustee whereby the assets of Golden Shield will be purchased by GSR Mining Corp. The pri…
Bodega’s Hyder plans funded by placement
Washington-based company Bodega Ventures (ASE) said it recently completed a private placement subscription with Central Capital for one million Bodega shares at 25cents per share. Central Capital also…
News in Brief (February 26, 1990)
Golden Titan Resources and 182 Dynamic Endeavors Inc. have amalgamated to form Titan Pacific Resources Ltd. (TPZ:VSE). Golden Titan shareholders receive one new share for 0.2 old shares held; 182 Dyna…
Amax Gold blames Nevada taxes for 1989 cost hike
Although its average production costs rose significantly in 1989, Amax Gold (TSE) can still extract an ounce of gold from the ground for less than most of its North American competitors. The Colorado-…
Dickenson raising White mine output
A slight increase in gold production at the White underground mine near Red Lake, Ont., helped keep earnings steady for Dickenson Mines (TSE) in 1989. The company recently reported net earnings for th…
U.S., USSR market mining technology
An agreement was signed last November by a large Soviet gold mining association and an Alaska company to combine mining technology developed on both sides of the Bering Straits. Severovostokzoloto of …