Morono exploring two properties
An exploration program by Morono Mines is under way on two properties in northwestern Quebec, the Verneuil and Dufay, the company reports. The work is to be completed by late winter, 1988. Six drillin…
News
Gold thieves still sought
At presstime, Ontario and Quebec Provincial police had still not caught up with the thieves who some weeks ago robbed the Virginiatown, Ont. gold mine of Golden Shield Resources. The bandits made off …
Audrey enters first quarter in the black
After successfully bridging the gap separating explorers from production companies, Rouyn- Noranda, Que.-based Audrey Resources has reported positive net earnings results for its first quarter as a Ca…
Vancouver Stock Exchange The Pez is back with a bang
Looking at market activity in Vancouver this week, it’s safe to say “The Pez” is back. He’s been keeping a relatively low profile in the past year for personal and business reasons. Two discoveries, o…
Demand, low inventories send copper prices flying
When copper producers in the future look back at 1987, they will probably do so with some fondness. Steadily rising prices this year have seen the base metal touch $1.25(US) per lb on the London Metal…
CIM awards
Donald McLeod, president of the Northern Group of companies (Northair Mines, Scottie Gold Mines, Newhawk Gold Mines) is the 1987 winner of the District 6 proficiency medal of the Canadian Institute of…
Glamis profit hurt by court decision
A lawsuit which went against Glamis Gold hurt the company’s bottom line for the fiscal year ended June 30. For the period, net earnings totalled $429,538 or 3 cents per share compared to earnings of …
Revival in works for Hubert Lake
The new owner of Hubert Lake Ungava Nickel Mines has plans to revive the dormant mining company which was chartered in Quebec in 1957. Hubert Lake has been under a cease-trading order since May, 1985,…
Exploration underway on Tenquille prospect
Exploration work is progressing at the Tenquille Lake gold-silver prospect north of Pemberton Meadows, B.C., under a joint venture agreement between Tenquille Resources and Ajax Resources. Under the a…
Current strong gold price portends higher inflation (November 16, 1987)
The price of gold has, at various times, been linked to almost everything including political uncertainty, the price of oil and wars. As is typical of any commodity, the price of gold reacts in the sh…
Tap’s U.S. subsidiary in Golden Chest venture
British Columbia-based Tap Resources has entered a joint venture project at its Golden Chest project with Newmont Exploration, Golden Chest Inc. and Viking Resources. Due to B.C. tax laws which allow …
Kerr announces 9-month earnings of $17.9 million
Net income for the first nine months of the year was $17.9 million ($1.03 per share) compared with $2.3 million (13 cents per share) for the same period last year, Kerr Addison Mines reports. The com…