Royal Oak Mines
Royal Oak Mines Incorporated was a gold mining company, founded in 1990 by Margaret "Peggy" Witte (now known as Margaret Kent) in Kirkland, Washington.
The company held numerous gold and base metal properties in Canada, including the Giant Mine in the Northwest Territories, Pamour Mine in Ontario, Hope Brook Mine in Newfoundland, Colomac Mine in the Northwest Territories, and the Kemess Mine in British Columbia. The company also had significant interests in minerals in China through Asia Materials (44% share) and Highwood Resources (39% share). The company reported nearly US$600 million in assets, and loss of $4.4 million on revenues of US$187 million for fiscal 1996. Its Hopebrook and Colomac mines were closed in 1997. Low gold prices of 1997-1998 caused Royal Oak to go bankrupt in April 1999, and its mining assets were liquidated.
Read more about Royal Oak Mines: Labour Dispute
Famous quotes containing the words royal, oak and/or mines:
“The interpretation of dreams is the royal road to a knowledge of the unconscious activities of the mind.”
—Sigmund Freud (1856–1939)
“The leaves are all dead on the ground,
Save those that the oak is keeping”
—Robert Frost (1874–1963)
“Beautiful credit! The foundation of modern society. Who shall say that this is not the golden age of mutual trust, of unlimited reliance upon human promises? That is a peculiar condition of society which enables a whole nation to instantly recognize point and meaning in the familiar newspaper anecdote, which puts into the mouth of a distinguished speculator in lands and mines this remark:M”I wasn’t worth a cent two years ago, and now I owe two millions of dollars.””
—Mark Twain [Samuel Langhorne Clemens] (1835–1910)