It’s easy to forget that the multi million-dollar industry runs as much on people as it does on mines and stocks. In 1989, some in the business made millions while others lost all.
Murray Pezim, for one, will remember August, 1989, when the Supreme Court of Canada awarded 0000,0506 control of the rich Williams mine to Corona Corp. Credited with the bankrolling the Hemlo discovery, Pezim was vindicated by the court’s decision.
A few weeks later, Calpine Resources, a Pezim- controlled company, pulled one of the most spectacular cores ever drilled in Canada and ignited the Vancouver Stock Exchange in a frenzy of trading.
Pezim also remarried and bought the British Columbia Lions football club.
As for Bill James, 1989 was the year when he lost control of Falconbridge to friendly rival Alf Powis, chairman of Noranda. James thought he had a white knight in the form of Amax Inc. which made a surprise bid for the nickel giant. In the end Amax backed down, and Powis won the control bout. In September James gave up his chairmanship of Falconbridge.
An old friend of the exploration industry was back in the news in June. Viola MacMillan, an indus 0000,0506 try standout since 1927, donated $1.25 million to a $5-million fundraising drive that brought the fabulous William Pinch mineral collection to the National Museum of Natural Sciences in Ottawa. The gallery housing the collection will be named in her honor.
Teck Corp.’s builder Norman Keevil, another old friend of the 0000,0506 industry, died Oct 9 at the age of 78. An innovator and a staunch supporter of the mining business, Keevil guided Teck to its position today as an industry leader.
Among the noteworthy 1989 pub lications is Not for Gold Alone, a memoir by Franc Joubin. The author is a member of the Mining Hall of Fame, best known as the founder of the huge uranium properties near Blind River, Ont.
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