Northgate selling shares in MSV
An approximate 33% ownership interest in MSV Resources (ME) is being sold by Northgate Exploration (TSE) in a deal which subsequently involves directly and indirectly several junior companies. Nova-Co…
1992
OBITUARY (June 08, 1992)
James Albert Pike James Albert Pike, a past president of the British Columbia & Yukon Chamber of Mines, died May 23 in Vancouver. Born in Humboldt, Sask., in 1906, Pike graduated from the University o…
METALS MARKETS (June 08, 1992)
Base metal markets are exhibiting signs that the long downturn may be nearing an end. Scrap generation is low and any pickup in demand must draw on relatively small inventories in producers’ hands and…
Verdstone options Victorine mine
In return for a US$5,000 option payment, Verdstone Resources (VSE) recently acquired the right to lease the Victorine mine about 50 miles north of Round Mountain in central Nevada. The option is exerc…
Quail drilling intersects values
The first two holes in this year’s drilling program on the Golden Quail property in San Bernardino Cty., Calif., returned gold values for joint venture partners Golden Quail Resources (VSE) and Golden…
Newfoundland’s mines minister buoyant about minerals sector (June 08, 1992)
Three years ago, Rex Gibbons typed a short resignation letter and walked out the door of the Newfoundland Department of Mines where he had worked as a senior geologist for 13 years. One month later he…
Asarco poised for metal price upswing
Commenting on the 1991 performance of Asarco (NYSE) at a recent meeting of the Toronto Society of Financial Analysts (TSFA), Chairman Richard de J. Osborne said it was “not a great earnings year.” Asa…
Blending of reserves boosts value of McCreedy East mine
Canadian ore reserves quoted by Inco (TSE) for the year ending 1991 are 401 million short tons grading 1.44% nickel and 0.85% copper. Not high grade by any measure. Technical and organizational improv…
Elliot Lake miners undergo retraining
Mine closings are always difficult situations for communities dependent on such operations for their economic well-being. Workers and their families in the uranium-mining community of Elliot Lake, Ont…
Galleon, BMR plan drilling
A US$200,000 drilling program is planned for the Madison gold-copper property about 25 miles southeast of Butte, Mont., by owners Galleon Mining (VSE) and BMR Gold (VSE). The companies can earn a 100%…
TORONTO STOCK EXCHANGE INDICES (June 08, 1992)
Composite “300” 3410.20 3403.98 3387.93 3375.34 3382.86 4009.47 3009.91 Metals & Minerals 3148.85 3110.82 3110.19 3097.07 3087.21 3453.06 2502.63 Integrated Mines 3358.41 3314.22 3315.05 3300.61 3291….
Cameco president presents positive long-term view
Producer Cameco (TSE) of Saskatoon remained profitable in 1991 despite low uranium prices. Earnings were $1.03 per share compared with $2.21 in 1990. Despite a lacklustre year, President Bernard Miche…