Muscocho, partners boost Jerome reserves
Reserves at the Jerome property north of Sudbury, Ont., have been increased to 600,000 tons averaging 0.2 oz gold per ton. The joint venture partners exploring the old Jerome Gold mine property report…
News
Flanagan, Echo Bay deal
Flanagan McAdam Resources (TSE) has entered into a private placement agreement with Echo Bay Mines (TSE) whereby Echo Bay will purchase 1.6 million Flanagan shares at a price of $2.50 per share. The $…
Candol update
After spending $2.4 million last year to explore several newly acquired mineral prospects, Candol Developments (TSE) says its Bullion Pit placer property near Williams, B.C., could be ready for produc…
Former Wharf directors take home $1.3 million
Although Wharf Res. (TSE) almost doubled its net income in 1988, the company had to make substantial payments to some of its former officers. Wharf, which came under the control of Dickenson Mines (TS…
Giant Yellowknife to mine reserves of Hoyle property
Agreement has been reached between Giant Yellowknife Mines (TSE) and Falconbridge Gold (TSE) whereby the former has obtained the right to mine, subject to tonnage royalty, known gold reserves on the l…
Can-Mac official fined for trading violations
Fredrick Semkowich, the secretary-treasurer and major shareholder of Can-Mac Explorations (VSE) pleaded guilty to one count of trading in securities during distribution while without a receipt for a p…
Falconbridge settlement
Clerical and technical workers at Falconbridge Ltd.’s (TSE) Sudbury, Ont., operations recently voted in favor of a new 3-year contract which a union representative says is among the most generous ever…
Junior base metal explorers reviving
As gold and silver prices continue relentlessly downward, the number of juniors active in base metals exploration is on the rise. Concern over dwindling base metal reserves in Canada has shifted a cer…
Platinova active in assorted plays
Assorted mineral projects in three countries are keeping Toronto-based Platinova Resources (TSE) busy. In Greenland, the junior is active in three plays, one involving gold- platinum, a second involvi…
Gibraltar earnings best in eight years
The continued strength of copper prices into 1989 has Gibraltar Mines (TSE) tallying up the highest quarterly earnings in eight years from its mining operations near Williams Lake, B.C. The Placer Dom…
Books (May 08, 1989)
Canadian Mines: Perspective from 1988 — Production, Reserves, Development and Exploration. Mineral Bulletin MR 221. Prepayment $9(C); other countries $10.80(C) Canadian Government Publishing Centre, …
Galactic Res. struggles to shake “one-mine” image
Wounded by the failure to deliver on promises made at its Summitville gold mine in Colorado, Galactic Resources (TSE) and its ebullient chairman, Robert Friedland, have faced the brunt of investor dis…