Word: jaculet
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Campbell Chibougamau, in production since June 1955, now spews up $1,000,000 worth of ore a month. Four other companies (Copper Cliff Consolidated Mining Corp., New Royran Copper Mines Ltd., Chibougamau Jaculet and Copper Rand) around the rim of Dore Lake are shooting for production next year. The investment already totals $50 million. Dotted over the lonely countryside, some 100 drilling crews are probing the Pre-Cambrian rocks for new deposits or extensions of established finds. Reported Toronto's Northern Miner: "There's no reason to think that the peak of exploration has been reached...
This year speculators who gambled on rising copper prices made even fatter killings than they had in the uranium boom a year ago. New Jaculet, one copper prospect that sold for as little as 13? last year, soared to $2.15 in April. In twelve months Opemiska went from $3.75 to $19.50; Consolidated Halliwell shot from 44? to $3.75 this year. Brokers, also, have made record profits this year-and, like all Canadians, pay no capital-gains taxes on their market profits...
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