Placer Dome has 3 gold mines to open in 1989
In Canada and increasingly abroad, Placer Dome (TSE) is viewed with a certain amount of reverence — and probably with good reason. Over the years, it has managed to identify, develop, and turn a prof…
News
FINANCING (January 30, 1989)
VANCOUVER Crisan Res — 600,000 sold for $210,000. Fortress Res — 700,000 sold for gross $245,000. Silver Drake Res — gross proceeds rec $210,000.
Rio Algom completes Kerr-McGee purchase
Toronto-based Rio Algom (TSE) has completed a $28.5-million(US) acquisition of uranium properties owned by Kerr-McGee Corp. and all the issued and outstanding shares of Quivira Mining, a wholly- owned…
Nevada Goldfields, Minerex discussing rationalization (January 30, 1989)
Discussions have taken place between Nevada Goldfields Corp. (NASDAQ) and Minerex Resources (TSE) about a possible rationalization of their mining operations near Hawthorne, Nev. While emphasizing the…
T&H makes new gold discovery east of Casa Berardi
T&H Resources (TSE) has made a new gold discovery on property held by Northway Explorations (TSE) in Noyon Twp. east of the Casa Berardi area in northwestern Quebec. President John Pollack says a dril…
News in Brief (January 30, 1989)
Orex Resources (ORX:ASE) has changed its name to Carlin Gold Co. Inc. (CIO:ASE) on a share for share basis.
Cominco on straight, narrow
Among the hardest hit during recession was the base metals sector in which a few commodities have yet to recover. And not surprisingly, its impact was totally indiscriminate, crippling both the small …
Metal Prices FUTURES PRICES (January 30, 1989)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Jan160.00 155.70 155.70 — 3.00 Mar151.90 147.70 148.05 — 0.75 May139.30 137.00 13…
Dolly Varden has funding agreement
A funding agreement has recently been arranged between Yorkton Securities of Toronto and Vancouver-listed Dolly Varden Minerals (VSE). Under the agreement, Yorkton will provide for the distribution to…
Takeover threat doesn’t alter Falconbridge’s optimism
For Falconbridge Ltd. (TSE) and its inimitable chairman, Bill James, 1988 was one of those years when the gods appeared to be smiling. Riding on record high copper and nickel prices the Toronto base m…
Canyon financing
Canyon Resources Corp. (NASDAQ) has arranged a $20- million financing deal with Meridian Minerals. The cash will allow Canyon to place its jointly-owned Beartrack gold deposit in Idaho, in production….
Echo Bay mandate is to increase gold production
Echo Bay Mines (TSE), already North America’s fourth-largest gold mining company, has its sights set on achieving production over the one-million-ounce mark by the early 1990s. The Lupin mine, in the …