FUTURES PRICES (July 04, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Jul 105.50 102.05 105.40 — 2.95 Sep 100.00 96.80 100.00…
News
OSC paves way for Falconbridge to buy back stock
Falconbridge Ltd. (TSE) wasted no time in getting in its final bid to Placer Dome (TSE) to buy back the 24.9% stake Placer holds in the big nickel company. Having successfully obtained Ontario Securit…
Deepening of shaft to start in June at Broulan project
A start was to have been made on deepening the shaft to 3,500 ft from the present bottom level of 2,500 ft at Broulan Resources’ (TSE) main property in the Timmins area of Ontario, where Belmoral Mine…
Aber moves second rig into Sunrise
Exploration work is being accelerated at the Sunrise Lake project of Aber Resources (VSE) and Hemisphere Development Corp. (VSE) in the Northwest Territories. A second drill has been added to outline …
Int’l Platinum counting on `big picture’ approach
Eighteen platinum properties in six provinces, the Northwest Territories and one United States state has made International Platinum Canada’s busiest white metal explorer. The company has been at it f…
Great Lakes Nickel may have new owner
Sale of the controlling interest of Great Lakes Nickel (TSE) to an unidentified resources company may be imminent. President Dennis Wood, speaking at the annual meeting, said a deal, which was to clos…
Editorial The business cycle
If there ever was a classic example of the business cycle and its effect on one company, it’s the case of Inco in the 1980s. The nickel producer is flying high now with record earnings and an increa…
INSIDER TRADES (July 04, 1988)
Abbey — S. Spivak bought 7,500 to hold 58,501. Aurelian — R. Martel bought 60,960 to hold 274,269. Dickenson — Brewis & White sold 100,000 to hold nil. Dumagami — Mentor bought 14,500 to hold 190,…
Warm weather expected to boost Ateba
Gold production from the screening and sorting operation of Ateba Mines (TSE) in Beardmore, Ont., was lower during the winter months than originally anticipated. The reason is one of the coldest winte…
Bitech, Greenstone see `89 production at Tache
Bitech Energy Resources (ASE) is targeting late 1989 as a production start-up date for the company’s Tache Lake polymetallic deposit in northern Quebec. Shared equally with Greenstone Resources, (TSE)…
Stuart offers Int. Baslen stake in Hemlo gold claims
An announcement that International Baslen Enterprises (ASE) has been offered the chance to finance a legal fight for control of 148 claims in the Hemlo, Ont., area was enough to ensure a packed house …
Denison achieves new safety record at Elliot Lake
Well over one million hours of work without a lost-time accident have been accumulated at the Elliot Lake operations of Denison Mines, establishing a new Canadian mine safety record. According to Coli…