Correction (February 06, 1989)
Capital costs at the Namew Lake mine in northern Manitoba, totalling $70 million, were shared 40% by Outokompu Mines and 60% by Hudson Bay Mining & Smelting, not 100% by Outokompu as was stated in (N….
News
Record year for Falconbridge makes it a ripe takeover bet
Strong nickel and copper prices have combined to drive Falconbridge Ltd. (TSE) to the most profitable year in its history. Earnings reported by Falconbridge for the year ended Dec 31 were a record $34…
Corona/Huntington plan development (February 06, 1989)
A comprehensive development program budgeted at $661,000 is planned by partners Corona Corp. (TSE) and Huntington Resources (VSE) for the Brett claims located about 25 km west of Vernon, B.C. The proj…
Judge dismisses Scintilore suit
A lawsuit by Scintilore Explorations (TSE) seeking ownership of the David Bell gold mine at Hemlo in northern Ontario has been dismissed. Supreme Court of Ontario Justice Robert Montgomery ruled Scint…
VANCOUVER
Quattro Res — min 600,000 offered @ 35 cents per sh. Abstract Enter — gross proceeds rec $150,000. Golden Kristy Res — 500,000 sold for gross $200,000. Megastar Ventures — min 350,000 offered @ 35…
New uranium find for Minatco Ltd.
Discovery of ore grade uranium mineralization has been reported by Minatco Ltd. at shallow depths on the Wolly joint venture property in northern Saskatchewan. The company, a subsidiary of Compagnie F…
Peopel (February 06, 1989)
HOMESTAKE MINING — Thomas H. Wong elected assistant secretary and assistant treasurer.
Cominco earnings highest ever (February 06, 1989)
Once awash in red ink, Cominco Ltd. (TSE) continued its remarkable financial turnaround again in 1988 when earnings reached the highest levels ever reported by the corporation. At $213.5 million, last…
FMC Gold posts 23% profit gain
Increased production volume and lower costs brightened the profit picture for major North American gold miner FMC Gold Company (NYSE) in 1988. The company reports its net income rose 23% last year to …
ECM seeks partners on Nevada prospects
Five gold exploration properties in north central Nevada have recently been acquired by ECM Inc. The properties, located in Lander and Eureka Counties, cover a total of 52,000 acres in Nevada’s Cortez…
Ventures buying Eastmaque shares
Control of Eastmaque Gold Mines (TSE) is slowly slipping into the hands of Ventures Trident, a Colorado-based mining investment partnership. Ventures has purchased 900,000 preference shares of Eastmaq…
50 Years Ago FEBRUARY, 1939 SHAFT WORK AT JEROME
Shaft-sinking by hand steel has been started at the Jerome property of The Mining Corp. of Canada, in the Opeepeesway Lake area, S udbury mining division. In the third-quarter report of the company, i…