Canamax sees loss in second quarter
Rising gold prices aren’t likely to affect Canamax Resources’ (TSE) recent decision to shut down its Ketza River and Kremzar mines, says Udo von Doehren, the company’s vice-president of finance. While…
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U.S. REPORT Chase signs partner for Arizona project
A joint venture agreement will see Chase Resources (VSE) take on a partner to help fund exploration at its Sungold project near Prescott, Ariz. Under the terms of the agreement, Whiskey Creek Resource…
Inco buys 6% stake in limestone producer
By purchasing seven million shares of Explaura Holdings (COATS), Inco Europe, a unit of Inco (TSE) will earn a 6% interest in the United Kingdom-based mining company. Through a private placement, Inco…
Montreal Exchange Six drills at Grevet .LThe Mid-East crisis
Trading volume during most of the week was in the range of 4.9-6.1 million shares. The general market portfolio index dropped by 39.6 points and the mining and minerals index fell by 86.8 points. At t…
Vancouver Stock Exchange Adrian, Canarc, Eurus stabilize
Whether the Vancouver Stock Indices were following gold down or just following through with last week’s drop is debatable. In any event, the Composite and Resources Indices put in dismal performances….
Copper supplies should drop by year 2000, study predicts
Supplies of copper are expected to tighten through the 1990s despite intense activity in development of new mine projects, a study by London-based Commodities Research Unit says. The tonnage from know…
Geologist acquitted of charge of littering drill-work area
A northwestern Ontario geologist who was charged with depositing debris from a drilling project on Crown land two weeks before his work permit expired in March was recently found innocent in Provincia…
Corona acquires Prime shares
As part of a recent agreement with Murray Pezim and two associates, Corona (TSE) has acquired 5.6 million shares of Prime Resources Group (VSE). Pezim, Lawrence Page and Arthur Clemiss also granted Co…
Ronrico secures $2.5 million to bring Simkar into production
The Royal Bank of Canada has agreed to provide debt financing to help bring the Simkar gold project, 10 miles east of Val d’Or, Que., into production. The Simkar property, with proven and probable res…
U.S. REPORT FMC income drops
Net income reported by FMC Gold (NYSE) for the three months ended June 30 was US$9.9 million versus US$13.8 million in 1989. The company attributed the drop in earnings to lower gold prices and high u…
U.S. REPORT Piedmont sets records
Records for both production and earnings were set by Piedmont Mining (NASDAQ) for the first half of 1990. Net income for the six months ended June 30 was US$642,000, or US$0.04 per share on revenue of…
Metall sees lower earnings despite production increase
Despite a 7% production increase at its Copper Range copper mine in Michigan, Metall Mining (TSE) has been hit financially by some of the same factors that affected earnings reported recently by its V…