New find on Golden Pond property
Days away from officially opening their Golden Pond gold mine in the Casa Berardi region of Quebec, partners Inco Gold and Golden Knight Resources (TSE) have announced significant drill intersections …
1988
Louvem earnings (September 12, 1988)
A net loss of $409,000 (3 cents per share) was reported by Louvem Mines (TSE) for the first half of 1988, compared to a net gain of $527,000 (4 cents per share) for the same 6-month period in 1987. Lo…
Hycroft Reports Revenue from Nevada Mines
With two heap leach gold mines in Nevada now in production, Hycroft Resources & Development (VSE) reported an operating profit of $2,397,071 and a net loss of $1,462,268 (or 11 cents a share) for the…
New Nova Scotia coal mine
Work should begin in January, at the latest, on a new dedicated underground thermal coal mine in Stellarton, N.S. The mine has been in the plans of Westray Coal Inc., 50%- owned by Giant Yellowknife M…
Orion start-up costs cut Malartic earnings
Start up costs at Malartic Hygrade’s (VSE) Orion gold mine near Val d’Or, Que., and an unrealized U.S. dollar exchange loss, reduced the company’s earnings during the first half of 1988, Malartic anno…
First Idaho moves ahead at Montana leach property
Development work is under way at the San Francisco gold property near Philipsburg, Mont., First Idaho Resources (VSE) said recently. First Idaho’s U.S. subsidiary Grand Trunk Resources, holds a 50% in…
MAS vows to delist Steep Rock shares
After being taken over by a subsidiary of Swiss calcium producer Pleuss-Staufer AG, Toronto-based Steep Rock Resources (TSE) is scheduled to be delisted. MAS Minerals recently purchased over 90% of St…
News in Briefs
Spirit Lake Explorations (ME) has completed flow-through financing totalling $1.2 million with NIM Resources at a price of $3.93 per share, subject to shareholders approval. These funds will be spent …
Metal Prices PRODUCER PRICES (September 12, 1988)
ALUMINUM: MW U.S. Market $1.27-$1.29 per lb. (Aug 25, 1988). ANTIMONY: New York dealer $1.05-$1.10 per lb. (Aug 25, 1988). BISMUTH: New York dealer $6.10-$6.15 per lb. (Aug 25, 1988). CADMIUM: New Yor…
Aur earnings decrease
On target to begin production at the Kierens zone gold deposit near Val d’Or, Que., later this month, Aur Resources (TSE) of Toronto has reported a drop in its 9-month earnings. Earnings before deferr…
Vancouver Stock Exchange Brokers’ phones starting to ring
August went out like a lamb, and September came in like one too, but brokers do say the phones are beginning to ring now that the holidays are over. While the momentum doesn’t appear to exist for a bo…
Duration/Locator
A $2-million debt owed by Duration Mines (TSE) and partner Locator Explorations (VSE) to mining contractor Redpath Ltd., has placed the ownership of the Theresa gold property in jeopardy. The companie…