Metals not affected by market collapse
The sudden mid-October stock market collapse and near-recovery the next trading session had little apparent effect on the precious and base metal commodity markets. Gold, silver and platinum enjoyed s…
News
Amalgamation simplifies Northgate group
Toronto-based Northgate Exploration (TSE) is planning to amalgamate four of its western affiliates into a medium-sized gold company capable of producing around 200,000 oz annually. By merging ABM Gold…
Deak to raise $1.39 million
A total of $1.39 million is being raised through a private placement by Deak Resources (TSE) in order to finance joint venture and other agreements it has with the Noranda (TSE). Subject to regulatory…
Aur and Belmoral negotiate financing, milling deals
Gold-producer Belmoral Mines (TSE) and Aur Resources (TSE) have negotiated financing and custom-milling agreements which should help pick up the fortunes of ailing Belmoral. Aur has agreed to lend $4 …
McNickel reports new assay results
More assay results have been released by McNickel Inc. (COATS) from its Lac St. Jean property in Quebec. Results from two recent holes, 1,000 metres north of the original showing, include 49 ft gradin…
Correction (October 23, 1989)
Contrary to information printed in a story in The Northern Miner last week, Dumont Nickel (ME) has not entered into a share exchange transaction with Sabina Resources (VSE) and Redaurum Red Lake Mines…
Orex plans to mine Goldboro to prove its economic viability
Quebec-based Exploration Orex (ME) is about to develop a large sub-level retreat longhole stope in the upper reaches of the Goldboro deposit, The Northern Miner learned on a recent visit to the proper…
Free Seminar
Geostat Systems International offers a free seminar on “Microcomputer Orebody modelling” to be held in Toronto at the Royal Hotel Nov 23. For registration, contact Geostat Systems International, Claud…
Metal Prices FUTURES PRICES (October 23, 1989)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Oct129.50 129.10 129.30 — 1.85 Nov– — 128.80 — 1.00 Dec129.80 127.10 128.30 + 0…
Takeover costs reduce earnings of Falconbridge
Expenses related to the recent takeover of Falconbridge Ltd. (TSE) led the major nickel producer to reduce its third-quarter earnings by $37 million. Noranda Inc. (TSE) and Swedish firm Trelleborg AB …
Aur, Louvem dispute makes operator status unclear at Louvicourt
Aur Resources (TSE) President Jim Gill recently attempted to downplay the effects that a legal dispute with partner Societe Miniere Louvem (TSE) could have on future development of their massive sulph…
Mazarin funding
Two government grants totalling $500,000 have been received by Societe d’Exploration Miniere Mazarin (ME), which is developing a graphite property near Fermont, Que., near the Labrador border. The Que…