Gold prices reduce Newmont Mining profits
First-quarter financial results of Newmont Mining Corp. (NYSE) show net income of $9.4 million(US) or 14 cents a share compared with earnings of $114.4 million for the same period last year. The 1988…
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Hanna’s profit increases 24% to 13.8 million
M. A. Hanna Co. (NYSE) saw its profit increase by 24% to $13.8 million(US) in the first quarter of this year from $11.1 million during the same period last year. Net income from operations was 54 cent…
Resource study centre appoints MacCulloch
Patrick MacCulloch has been appointed a distinguished visitor for 1989-90 at the Centre for Resource Studies (CRS) at Queen’s University in Kingston, Ont. Mr. MacCulloch, named “Man of the Year” by Th…
Newmont Gold steps up production
Gold sales were up substantially for Newmont Gold Company (NYSE) in the first quarter of 1989 as the company stepped up the pace of production to offset declining gold prices. During the period, the c…
Brenda to close Peachland mine by end of 1990
Reserves at Brenda Mines (TSE) near Peachland, B.C. will be exhausted next year, ending one of the great success stories in Canadian mining history. The porphyry copper deposit is among the lowest gra…
Queen’s studies ways to guage productivity
Ontario metal miners will benefit from a research program at Queen’s University in Kingston that is studying new ways to measure mining productivity. Industry-wide results traditionally have been used…
Onitap sale approved
Shareholders of Onitap Resources (TSE) have approved the sale of the company’s Goldboro gold property in Nova Scotia to Exploration Orex (ME). Orex has already made its first payment of $500,000 and i…
Private placement gives boost to St. George
The latest financial results from St. George Minerals (VSE) show a net loss from operations of $919,253(US) or 10 cents per share for the year ended Jan 31, 1989. The loss is a substantial increase …
Calpine plans $7-million program on Eskay Creek gold project in B.
The winter exploration program has been completed at the Eskay Creek project of Calpine Resources (VSE) and Consolidated Stikine Silver (VSE) in northern British Columbia. But a $7-million follow-up p…
RTZ Corp is world leader in mining
Earnings per share for Rio Tinto Zinc Corp. (RTZ) — the world’s largest and second most profitable mining company — are expected to grow 13% this year, according to broker Shearson Lehman Hutton Sec…
COATS (over-the-counter) Slump continues
Trading was light and mining stocks slid as the market passed another dismal week with investors steering well clear of mining issues. Sindor Resources traded in the $1.22-$1.18 range. Sindor is anxio…
Editorial Vancouver’s successes overlooked
The latest issue of Forbes Magazine, one of the most widely- read U.S. business publications, contains a scathing attack on the Vancouver Stock Exchange that is unprecedented in its ferocity and lack …