Cannon Mine Boosts Breakwater’s Earnings
Forward sales and higher grades of ore processed at the Cannon mine contributed to a substantial increase in net earnings for Breakwater Resources (TSE) for the nine months ended Sept 30. The company …
News
Hillsborough completes program at Mount Slocomb
An aggressive exploration approach is being taken by Hillsborough Resources (TSE) on its Mount Slocomb property in northern British Columbia. The company recently completed a field program under the d…
$70-million nickel mine opens at Namew Lake
Hudson Bay Mining and Smelting Co., (TSE) and Outokumpu Mines have formally commissioned a new nickel/copper mine at Namew Lake in northern Manitoba. The $70 million project, the first new underground…
Newmont Gold has record production
A $420 million(US) expansion program at its Carlin, Nev., operations is paying off for Newmont Mining’s 90% owned subsidiary Newmont Gold. Net income for the first nine months of 1988 increased to $7…
Amax Gold announces third quarter earnings
Amax Gold’s net earnings were $13.1 million(U.S.), or 22 per share for the 1988 third quarter compared with $11.1 million or 18 per share for the 1987 third quarter. For the first nine months of 1988…
Financing (November 14, 1988)
Ontario Roxmark Mines — up to 4,000,000 offered @ 20 per sh to net $800,000. Amanda — opt exerc on 150,000 @ 45 per sh. Agio — 600,000 shs offered @ $2.48 per unit. Athabaska Gold — 500,000 shs …
Graphite drawing an exploration crowd (November 14, 1988)
Yet another Canadian mining company has entered the search for graphite. Quebec-based junior Mazarin Inc. (TSE) plans to spend almost $1.1 million between now and next May exploring for graphite, as w…
Shareholders infuriated over Pomac amalgamation
Two weeks after being grilled by several holders of Acadia Mineral Ventures (TSE) stock at that company’s annual meeting (N.M., Oct 24/88), President Donald Smith was back in the hot seat — this time…
INSIDER TRADES (November 14, 1988)
Bitech — J. Wade bought 25,000 (Oct, private) to hold 1,100,416. First Can Gold — J. Hahn sold 1,000,000 (Sept) to hold 41,413. Flagship — Moss Res sold 300,000 (Sept, private) to hold nil. Franco-…
Second Saskatchewan gold mine
This province’s second gold mine, just a stone’s throw away from the first, is up and running. Jolu, owned 30% by Corona Corp. (TSE) and 70% by International Mahogany Corp. (VSE), is in the tune-up ph…
Newmont declares quarterly dividend
The board of directors of Denver- based Newmont Mining recently declared a regular quarterly dividend of 15 per share of common stock, payable Dec 9 to shareholders of record at the close of business…
Editorial Tomorrow’s leaders
Thomas Meyer wants someday to be a mine manager and Craig Bournes wants to study rock mechanics. The two second- year students at the University of Toronto will likely attain those goals and the minin…