Word: timminses
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The big dig has been prompted by half a dozen recent oil, gas and metal strikes, notably the spectacular copper, zinc and silver find by Texas Gulf Sulphur near Timmins. Ont. More than 1,000 prospectors have staked 8,000 claims, some as far as 65 miles from the strike...
Frenzied Trades. Mining men have always known that Canada hides a treasure of minerals. But because of high development costs, great distances from markets and erratic transportation, they have exploited that country less than the U.S. Some recent changes now make the effort and expense worthwhile. World prices of copper...
All this has led to the most frenzied trading in mining stocks in history. Over the past two months, more than 1 billion shares in Canadian mining companies have changed hands on the Toronto Stock Exchange, and more than 14 million shares of Texas Gulf have traded on the New...
Staggering Markups. Promoters have also made millions by buying prospectors' claims and selling them at staggering markups to speculators. Much of the Timmins land is owned by descendants of Boer War veterans, who were granted the mining rights in perpetuity. One promoter tracked down an heir in Buffalo, paid...
Even Curtis Publishing Co. had a timely bit of luck in the find. After the publishing house announced that it owns 40,000 acres of timberland next to the Timmins strike-and that it has an agreement with Texas Gulf to share in the profits of ore under its timber...