TORONTO STOCK EXCHANGE INDCES
— 1994 — Jul 12 Jul 11 Jul 8 Jul 7 Jul 6 High Low Composite”300″ 4131.72 4103.94 4098.98 4079.87 4043.37 4609.93 3518.31 TSE 100 Index 249.83 248.21 247.96 246.78 244.28 277.47 238.43 Metals&Mineral…
News
Blue Emerald gets B.C. opal property
A Toronto-based junior has acquired a 108-claim opal property in the Vernon area of British Columbia. In return, Blue Emerald Resources (VSE) must issue the vendors 100,000 shares and pay $60,000 cash…
Madsen raises financing for past producer in Red L.
Madsen Gold (TSE) has completed a previously announced $1.2-million private placement. It has also applied for, and expects to receive, a $300,000 grant from the Northern Ontario Heritage Fund, bringi…
Newhawk, Granduc plan Bruceside exploration work
Field work is expected to begin shortly at the Bruceside portion of the Sulphurets property near Stewart, B.C. Newhawk Gold Mines (TSE) and Granduc Mines (TSE) — 60-40 owners, respectively — plan to…
METALS COMMENTARY — Scrap leads pack as recovery continues
The fast pace of economic activity during the first half of 1994 looks set to continue at least for the balance of the year. In ferrous markets, integrated steel producers are taking all available iro…
Disbelief turns to support for Witte’s bold move
Stunned disbelief is probably the best way to describe the early reaction to Royal Oak Mines’ (TSE) hostile takeover bid for Lac Minerals (TSE). “Impossible,” said some Toronto-based mining analysts, …
Detector options Ontario projects
Alberta-listed Detector Resources has agreed to option two gold properties in northern Ontario. In one deal, it can earn a half interest in the Randall Lake property from Wiscan Resources (ASE) by spe…
New mines signal growth for Euro-Nevada
The best may be yet to come for Euro-Nevada (TSE), as four new gold mines in the company’s royalty portfolio are being readied for production over the next 24 months. Chairman Pierre Lassonde recently…
Sunshine to open Peruvian office
Idaho-based Sunshine Mining (NYSE) will open an exploration office in Lima, Peru. The company has commissioned a study of Peruvian mine concentrates to determine their compatibility with Sunshine’s hy…
Surprise takeover bid is winning converts — Royal Oak offers
In a classic case of David taking on Goliath, middle-tier gold producer Royal Oak Mines (TSE) has launched an aggressive takeover bid for senior gold miner Lac Minerals (TSE). A successful takeover wo…
Diamond studies confirm potential at Lac de Gras
Shareholders of Dia Met Minerals (TSE) have been told that the latest bulk-sampling programs, involving several kimberlites, are providing encouraging results which may lead to development of Canada’s…
Central Crude plans drill work
The new owner of Central Crude (TSE) plans to spend about $500,000 on a definition and exploration drilling program at its Eagle River gold property near Wawa, Ont. At the annual meeting, President Co…