Teck setting stage for possible Aur takeover
Teck Corp. (TSE) and Vancouver-based Cominco Ltd. (TSE) have purchased 19% of the issued common shares of Aur Resources (TSE) for $35.47 million and secured a foothold in Aur’s massive sulphide discov…
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Minerex profits go back to Aurora
Proceeds from gold and silver sales in fiscal 1989 at the Aurora mine of Minerex Resources in Nevada will be used for operations, debt repayment and waste stripping, said President Rodney Duncan. Mine…
Problems at Elliot Lake mine reflected in Denison results
While Toronto-based Denison Mines (TSE) is still negotiating to sell its oil and gas assets before concentrating on uranium mining, the wisdom of that decision has yet to be reflected on the company’s…
Phelps Dodge could expand exploration activity in Canada
Phelps Dodge Corp. (NYSE), the largest copper producer in the United States, is reported to be contemplating beefing up its exploration role in Canada. The company has not been active in Canadian ex…
Amax earnings lower in 1989
Although gold production rose 26% for the first six months of this year, Amax Gold Inc. (TSE) reported a decrease in net earnings for both its 1989 first half and second quarter. The company reported …
Canadian gold mines keeping costs down
In terms of cash operating costs per oz, many Canadian gold mining companies still rank among the lowest cost producers in the non- communist world. According to Consolidated Goldfields’ Gold 1989 pub…
Metallurgy good at Athabaska play
Initial metallurgical results from testing on drill core from the Nicholas Lake property north of Yellowknife, N.W.T., have been encouraging, Athabaska Gold Resources (VSE) says. Testing completed by …
Easing nickel prices behind lower Inco profit
Lower nickel prices during the second quarter are being blamed for the decrease in earnings at Inco Ltd. (TSE). However, few people at Inco are shedding any tears. For the period ended June 30, the co…
Royalstar to drill polymetallic bet
The 1989 exploration program by Royalstar Resources (VSE) on the Bob Creek property near Houston, B.C., will include close to 9,000 ft of drilling to further delineate three partly- defined zones of l…
Homestake’s gold output up by 27%
Second-quarter earnings for Homestake Mining Co. (NYSE) increased 9% to $20.9 million (or 22 cents a share) from $19.2 million (or 19 cents a share) in the same period last year. The gain reflects a…
Talbot Lake bet readied for drill by Golden Crescent
Golden Crescent Resources (ASE), which is earning a 49% stake in 26 exploration projects owned by Placer Dome Inc. (TSE), has begun a surface stripping program at Talbot Lake, near Geraldton, Ont. Gol…
Newmont completes start-up of No 4 mill in Carlin area
Newmont Gold Company (NYSE) has completed start-up operations at its Number 4 mill in the Carlin area of Nevada. The mill began operations June 1, one month ahead of schedule and throughput exceeded 5…