Firm gold price aids Kiena profit
Kiena Gold Mines realized net income of $9.56 million or 81 cents per share on revenue of $39.6 million in 1987. The Placer Dome affiliate attributes the improved bottom line to stronger gold prices w…
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RCJ Resources expands Sakoose mineralized zone
Drilling by RCJ Resources has extended the known dimensions of the Sakoose gold zone. Located in northwestern Ontario, the Sakoose mine was a former producer which yielded 3,669 oz of gold from ore gr…
N.A. Metals fights Homestake
Life in the North American goldfish bowl is becoming much more exciting for publicly-traded companies with gold reserves and production potential. Indeed, the predatory fish themselves are being pursu…
Ottawa offers to soothe depletion blues
The federal government isn’t budging on its commitment to phasing out the earned depletion portion of flow-through shares, Energy, Mines and Resources Minister Marcel Masse has announced. But he says …
Governments cooperate for B.C. mineral development
The Mineral Development Agreement (mda) between the governments of Canada and British Columbia is at the mid-point of its 5-year (1985-1990) term. It is, therefore, a natural time for review. Briefly,…
Lornex profits up
Profits keep climbing for Lornex Mining Corp., which reports 1987 earnings of $44 million, or $5.32 per share, up 61% from $27.3 million or $3.30 per share in 1986. Revenue rose to $209.3 million from…
Michele to start work on Addington
Drilling should begin this week on a gold bet 120 miles east of metro Toronto. Known as the Addington property, it has geological reserves of 785,000 tons grading 0.13 oz gold per ton, according to Ca…
Sparton deals Estrades interest to Lacana
Toronto-based Sparton Resources has agreed to option its 50% interest in a property in Estrades Twp., in northwestern Quebec, to Lacana Mining Corp. Golden Zone Development holds the remaining 50%. To…
Inco Gold buys Esso’s interest in Red Lake claims
A purchase agreement with Esso Resources Canada has been completed by Inco Gold for all of Esso’s interest in the Red Lake claims in northwestern Ontario held by the Wilanour partnership (Wilanour Res…
Britannia Mines – Canada’s largest museum artifact
A heritage resource — what does it mean? To most people “heritage” means a birthright, a tradition, culture or characteristic inherited from the past. Why preserve the Britannia Mines, and specifical…
Coxheath plans Tangier production
Another gold property in Halifax Cty., N.S. will likely start pouring gold at a commercial rate July 1, 1988. Toronto-listed Coxheath Gold Holdings announced at its annual meeting in Halifax this week…
Breakwater has increased earnings
Breakwater Resources reported earnings of $4.2 million or 19 cents per share for the year ended Dec 31. This compares to earnings of $925,000 or 5 cents per share in 1986. “The substantial increase …