Amax earnings lower in 1989
Although gold production rose 26% for the first six months of this year, Amax Gold Inc. (TSE) reported a decrease in net earnings for both its 1989 first half and second quarter. The company reported …
1989
Canadian gold mines keeping costs down
In terms of cash operating costs per oz, many Canadian gold mining companies still rank among the lowest cost producers in the non- communist world. According to Consolidated Goldfields’ Gold 1989 pub…
Easing nickel prices behind lower Inco profit
Lower nickel prices during the second quarter are being blamed for the decrease in earnings at Inco Ltd. (TSE). However, few people at Inco are shedding any tears. For the period ended June 30, the co…
Homestake’s gold output up by 27%
Second-quarter earnings for Homestake Mining Co. (NYSE) increased 9% to $20.9 million (or 22 cents a share) from $19.2 million (or 19 cents a share) in the same period last year. The gain reflects a…
INSIDER TRADES (July 31, 1989)
Aurizon — F. Lang bought 30,000 (June) @ $26 to hold 608,763. Dauntless Dev. holds 285,758. Cane — Jonpol bought 86,000 (June, private) @ 8 cents to hold 1,000,000. Coral Gold — G. Greer holds 1,8…
Placer Dome encouraged by Mexican Hat results
Drilling by Placer Dome Inc. (TSE) on the Mexican Hat project in Arizona is returning encouraging results. The property is held under option from Oneida Resources (VSE). Results from drilling include …
Kennecott Corp. reborn after RTZ takeover
A new, but time-honored name has been resurrected for BP Minerals America following its takeover by the giant RTZ Corp. The company will now be known as Kennecott Corp. and operate as a wholly- owned …
Alberta refuses to lift Shabu cease trading order
Shares of Shabu Gold Mines (ASE) cannot resume trading on the Alberta Stock Exchange until officers of the company file a new prospectus, the Alberta Securities Commission has ruled. After a 3-day hea…
Editorial Northern spirit
Mining men and women have always had to face the vagaries of Mother Nature not only underground but on land as well. Imparted with a pioneering and adventuresome spirit, such people faced hardships in…
Toronto Stock Exchange Indices (July 31, 1989)
1989 July 25July 24July 21July 20July 19HIGH LOW Composite “300” 3899.77 3893.83 3901.36 3886.15 3872.64 3901.36 3353.13 Metals & Minerals 3316.10 3295.39 3327.60 3309.61 3308.75 3564.92 32…
Alberta Stock Exchange New Texmont rises
Results from the Tully Twp. gold property near Timmins, Ont., drove up the prices of at least three of the Alberta companies who are participating in the project. However, even though project operator…
Malartic gains Val d’Or gold property from Audet
Malartic Hygrade (VSE) has acquired from the Audet family, a 20-claim property in Bourlamaque Twp. Que., two miles east of the Sigma and Lamaque mines in Val d’Or. The claims are within 10 miles of th…