Byron Creek coal sale will double production
A major coal sale to the Japanese steel industry by Byron Creek Collieries, a unit of Esso Resources Canada, will lead to a doubling of production at its mining operation near Sparwood, B.C. Up to 100…
News
Euro-Nevada acquires Marigold interest
Euro-Nevada Mining Corp. has entered into an agreement for the acquisition of a 3% net smelter return on the Marigold mine near Battle Mountain, Nev., fo r $2,187,500 (US), decreasing to 1.75% nsr aft…
VSE halts Carter/Ward stocks until management changes made
A number of companies associated with promoters David Ward and Edward Carter have been halted by the Vancouver Stock Exchange until management changes are made. The VSE contends their continued associ…
Windarra planning major exploration
Windarra Minerals (VSE) reports that its initial private placement with Hemlo Gold Mines (TSE) has been completed. The placement consisted of two million shares at $2 per share, providing $4 million t…
St. Genevieve Res. reports loss in ’87
A net loss of $3.8 million (47 cents per share) was reported by St. Genevieve Resources (ME) during 1987, compared with a loss of $11,980 (1 cents per share) for the previous year. The company attribu…
Echo Bay completes Muscocho acquisition
Edmonton-based Echo Bay Mines (TSE) has completed the purchase of $23.5 million in convertible debt securities of Muscocho Explorations (TSE), Flanagan McAdam Resources (TSE) and McNellen Resources (V…
Cambior earnings up
First-quarter earnings jumped 16.3% compared with the same period in 1987, Cambior Inc. (TSE) reports. Net earnings were $3.6 million (15 cents per share) on revenue of $26.6 million, compared with $…
Eastmaque signals trend by recovering gold from tailings
Officials cut a ribbon here May 31 to open the country’s first commercial tailings re-treatment project. About 60 people were on hand to help Eastmaque Gold Mines (TSE) celebrate the occasion. With si…
Blackdome dividend reduction could spell increased output
Among Canadian gold producers, Blackdome Mining’s (TSE) dividend policy was probably the most generous. Indeed, last year’s payout of $6.7 million was about 109% of net income which was simply unsusta…
Battle Mountain backs out of deal with Noramco
A proposed $40-million deal between Battle Mountain Gold (TSE) and Noramco Mining Corp. (TSE) has collapsed following a review of Noramco’s projects by Battle Mountain. The big U.S. gold miner had agr…
News in Brief (June 06, 1988)
Liberian Iron Ore (TSE) has announced that the Liberian American-Swedish Minerals Co. has repaid the balance of $4.677 million(US) of the bank loan it obtained in 1983 to enable it to finance at that …
Galveston loss
A major shareholder of Royex Gold Mining (TSE) with a 21% interest, Galveston Resources (TSE), reports a net loss of $333,000 (1 cents per share) for the three months ending March 31, compared to a n…