Canyon Resources sees improved earnings in 1989
Production from the new Kendall gold mine near Lewistown, Mont., is expected to improve the financial bottom line of Canyon Resources (NASDAQ) this year. The Colorado-based company reported a net loss…
News
Noranda ups Butte stake
Noranda Inc. (TSE) has purchased a further 300,000 shares of Crown Butte Resources (VSE), raising its stake in Butte to 26.5%. The deal, an off-market transaction, was exercised under a share option a…
Dickenson unaffected by take over
The takeover of Dickenson Mines (TSE) by Goldcorp Investments Ltd. of Toronto seems to have barely interrupted the operations of the gold producer. “It’s business as usual,” President John Kachmar tol…
RFC to re-open former zinc mine
Following a trend established in the gold mining industry, base metal producers are beginning to look at re-activating old mines. Companies are taking a hard look at old zinc producers like the Pend O…
Geddes to spend $10M
Toronto-based Geddes Resources (TSE) plans to spend $10.8 million this year on its Windy Craggy copper-cobalt-gold prospect in northwestern British Columbia. The aptly named Windy Craggy property is l…
International program set by Placer Dome
An ambitious international program of new mine development is expected to translate into increased gold production and a lower average production cost for Placer Dome Inc. (TSE) in 1989. Earnings from…
Queries Shebandowan `small potatoes” for Inco
I read with interest the article in The Northern Miner (N.M., Apr 17) regarding Inco Ltd., “quietly re-opening” its Shebandowan copper-nickel mine west of Thunder Bay, Ont. McIsaac Exploration, the …
Financing (May 08, 1989)
VANCOUVER Brooklyn Res — 500,000 offered @ 50 cents per sh. Hawkeye Devel — gross proceeds rec $525,000. More Res Inc. — gross proceeds rec $250,000. Fairbanks Gold Ltd — 2,000,000 offered @ $2.8…
Colby resumes work on Scottish gold bet
Exploration work has resumed on Colby Resources’ (VSE) gold- silver project in Loch Tay, Scotland, where a gold discovery was made last year. Colby has a 50% interest in a gold-silver prospecting lice…
Golden Chest merger
Golden Chest (OTC) shareholders’ approved the company’s merger with TAP Resources (Spokane) of California. The merger gives Golden Chest a 39% interest in a joint venture project with Newmont Mining a…
COATS (over-the-counter) Lackluster trading
It was quiet on the COATS mar- ket this week with most mining issues either unchanged or slightly lower. Exxeter Resources was the volume leader with trading in the 43 cents -48 cents range, down mar…
More R&D money needed to keep Canada competitive
Mining companies need to almost double the money they now spend on research and development, says Henry Brehaut, senior vice-president operations at Placer Dome. Speaking at the opening session of the…