Little relief seen from industry downturn
The Canadian diamond drilling industry has plunged into another economic downturn and things could get worse before they get better. Tim Bremner, general manager of Logan Drilling and outgoing preside…
1990
Corrections (May 21, 1990)
Contrary to what was reported (T.N.M., April 16/90), the Caribou lead-zinc mine in New Brunswick, which Breakwater Resources (TSE) has agreed to acquire, contains proven reserves of 1.9 million tonnes…
Bethlehem, Goldnev plan to merge; An agreement in principle has
Both companies recently appointed independent consultants to prepare a fairness opinion for the proposed merger, specifically to determine a share exchange ratio. The principal assets of the two compa…
INSIDE Graphite’s role in making drill bits
Without graphite, used in drill-bit molds, the diamond drill bit industry may not have been able not have been able to reach its present state of development. Page B2…
`Rousseau Wrench’ helps during breakout VANCOUVER — An innovative
An innovative tool for use during “break-out” has been developed by Longyear Canada. The idea for the tool came from a driller at Longyear, and the tool was subsequently named after him. Dubbed the …
Colombia guerrillas attack gold mine
A small gold mine in northern Colombia, recently destroyed by guerrillas, is owned by Americans, and not Canadians as has been reported. Jim Anthony, chairman of Greenstone Resources (TSE) which has p…
Metal Prices FUTURES PRICES (May 21, 1990)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in US cents per lb.) May 123.70 120.20 121.30 + 0.90 June 119.00 117.00 118.30 + 1.90 July 115.10 112.65 114.10 + 1.95 SILVER (in US c…
Insider Trading Wolfin sells portion of Coral Gold shares
Louis Wolfin, president of Vancouver-based Coral Gold (VSE), recently unloaded a significant amount of his direct and indirectly held Coral shares. But with slightly less than two million shares still…
Claude’s Seabee may be the next Saskatchewan mine
Based on the results of a final feasibility study, Claude Resources (TSE) says it has decided to place its Seabee gold project in northern Saskatchewan into production. A 400-ton-per-day mill is plann…
IOCC GOLD OPTIONS (May 21, 1990)
Options Open Series Volume Last Interest May 370 C 65 1.50 218 Aug. 380 C 319 9.00 403 Aug. 390 C 144 5.50 689 Aug. 400 C 142 3.60 1,537 Aug. 410 C 433 1.80 687 Aug. 440 C 49 0.50 1,487 Nov. 390 C 61 …
Akiko options two Ontario gold bets
Vancouver-based Akiko-Lori Gold Resources (VSE) has reached an agreement in principle with Gold Fields Canadian Mining to earn a 50% stake in two gold prospects situated south of Kirkland Lake in nort…
Crown drops Goldfields option
After completing a due diligence review, Crown Resources (VSE) has dropped its option to acquire a package of properties and equipment from Nevada Goldfields (TSE). The transaction was valued at about…