Quarterly loss for Sherritt
The balance sheet of Sherritt Gordon (TSE) tumbled into the red during the first quarter of the year. The metal refiner and fertilizer producer recorded a net loss of almost $2 million for the 3-month…
1990
U.S. Report Homestaker doubles first-quarter profit
San Francisco-based Homestake Mining (NYSE) reports increased first-quarter net income of $13.2 million, or 13 cents per share, almost double last year’s first-quarter earnings of $7.1 million, or 7 c…
Former DRX head files lawsuit
Robert Clarke, former president of DRX (NASDAQ), has filed a lawsuit seeking to invalidate the election of a slate of directors at the company’s recent shareholder meeting in Delaware,. DRX is a preci…
Hardrock, Geraldton, Ferau joint ventures
Three separate joint venture agreements have been completed by Hardrock Extension (TSE), Geraldton Longlac Gold (COATS) and Ferau Resources (COATS). In the first agreement, Hardrock’s 17.5% interest i…
Lower zinc prices cut into Brunswick earnings
Despite record zinc recoveries from Brunswick Mining and Smelting (TSE) No. 12 mine near Bathurst, N.B., lower zinc prices have slashed the company’s first quarter earnings by 60% from last year’s fig…
Public hearings planned for Cinola mine
Public meetings are being planned to address environmental and other key aspects of the controversial Cinola gold mine project on the Queen Charlotte Islands of British Columbia. British Columbia Mine…
Toronto Stock Exchange Indices (April 30, 1990)
Apr. 24 Apr. 23 Apr. 20 Apr. 19 Apr. 18 HIGH LOW Composite “300” 3340.96 3344.07 3355.62 3410.61 3476.42 4009.47 3340.96 Metals & Minerals 2851.87 2850.84 2898.23 2946.64 2971.48 3453.05 2850.84 Integ…
Corona earns stake in Nevada project
A joint venture between Westley Mines (TSE) and Corona (TSE) will revive exploration efforts on what Westley has described as “the company’s most exciting project.” Corona is earning a 70% interest in…
Goldbelt gains interest in Jascan property
A group of 48 claims about 10 miles northwest of the recent Inco- Vior-Cambior gold discovery in Douay Twp. will be optioned to Goldbelt Mines (VSE) by Jascan Resources (TSE). Goldbelt has the option …
Pelangio claims
Nineteen claims adjacent to the Detour Lake mine of Placer Dome Inc. in northeastern Ontario were recently acquired by Pelangio- Larder Mines (COATS). President Maurice Hibbard said previous drilling …
PRODUCER PRICES (April 30, 1990)
ALUMINUM: MW U.S. Market US70.75- 71.75 cents per lb. (Apr. 11, 1990). ANTIMONY: New York dealer US84-86 cents per lb. (Feb. 15, 1990). BISMUTH: New York dealer US$4.30-4.40 per lb. (Feb. 8, 1990). CA…
Major General pays $12 million for Umex package
In return for 32 Canadian properties and associated assets, Major General Resources (VSE) will pay over $11.7 million to Umex, a unit of Union Miniere of Belgium, but only $250,000 will be in cash. Of…