Echo Bay suffers loss after Muscocho writeoff
Several factors, including a US$42.4-million (43 cents per share) writeoff of its investment in the Muscocho group of companies, have resulted in a first-quarter loss of US$37.9 million (43 cents per …
1990
Westmin says Premier operating at breakeven
After a rocky start down the road to production, operator Westmin Resources (TSE) is reporting an improvement in mining operations at its 50.1% owned Premier gold mine near Stewart, B.C. The company s…
U.S.Report Nebraska’s first uranium operation gains approval
It has taken longer than expected, but Ferret Exploration Co. of Nebraska was recently issued a permit by the Nebraska Department of Environmental Control allowing it to bring on stream the state’s fi…
Vancouver Stock Exchange Vancouver market sluggish
If the past week’s action on the Vancouver Stock Exchange were likened to a member of the animal kingdom, the beast most likely to come to mind would be a slug. The market has been unable to shake its…
Hecla shareholders set to vote on buying Bachelor Lake option
Arthur Brown, chairman, president and chief executive officer of New York-listed Hecla Mining has been elected to the board of directors of Acadia Mineral Ventures (TSE). The move clears the way for a…
Montreal Exchange Heavy Muscocho volume
Volume was light-to-moderate this week but investors seemed to know what they wanted. The general market portfolio index jumped almost 55 points for the week ended May 8, and the mining and minerals i…
After completing an 18-hole drill program on the claims, the
In the Eastmain area of Quebec, Kingswood recently staked 280 claims in addition to the 125 claims it already holds in the vicinity of a copper-zinc-silver showing. Several senior companies have also …
Two new mines boost profit for Minnova in first quarter
Production contributions from the new Ansil and Samatosum mines in the first quarter of 1990 resulted in higher earnings for base metal and gold miner Minnova (TSE). Net income for the quarter increas…
Placer withdraws from Guyana project
Gold producer Placer Dome (TSE) has withdrawn from the Omai gold project in Guyana, South America, Golden Star Resources (TSE) reports. Golden Star says it has retained Wright Engineers of Vancouver t…
U.S.Report Biron Bay busy on U.S. gold bet
Toronto-based Biron Bay Resources (TSE) is planning additional drilling work this year on its Summit gold joint venture with NovaGold Resources (TSE) in the Steeple Rock mining district of New Mexico….
Westminer’s Gays River mill producing zinc concentrates
The mill at Gays River, N.S., is once again producing lead and zinc concentrates under the direction of owner Westminer Canada, the 100% owned affiliate of Australia- based Western Mining. When Westmi…
BOOKS IN REVIEWS Inactive gold projects on the rise
The number of inactive gold projects is on the rise, according to Metals Economics Group’s recent study, Potential New Canadian Gold Production. Ninety-nine Canadian gold projects were in reserves dev…