Glimmer, Noranda deal
Glimmer Resources (VSE) has optioned a gold prospect to Noranda Exploration, the exploration arm of Noranda Inc. (TSE). The 13-claim property is in Hislop and Beatty twps., Ont. Glimmer has also signe…
News
Minnova resumes drilling at Chu Chua
As part of a regional effort to secure additional feed for its 70%-owned Samatosum mill, Minnova Inc. (TSE) has resumed drilling on the Chu Chua volcanogenic massive sulphide deposit north of Kamloops…
Pioneer reports first-quarter loss
First-quarter financial results for Pioneer Metals Corp. (TSE) show a net loss of $330,000 or 2 cents a share compared with a loss of $46,000 for the period ended Mar 31, 1988. The company is expecti…
Bathurst anomaly of Sharpe Energy drawing interest
Sharpe Energy & Resources (VSE), formed some five years ago to investigate a geophysical base metal bet in New Brunswick, is not giving up in that province. Banking on geophysical findings within a fa…
Viceroy delays frustrating (June 12, 1989)
It’s been a long haul obtaining permits for Viceroy Resource Corp.’s (TSE) Castle Mountain project which was supposed to be in production over a year ago. California isn’t the easiest place to permit …
Spot prices at a glance (June 12, 1989)
Week’s Price (US) Change Gold* $375.50 $12.00 Silver* $ 5.40 +$ 0.18 Platinum* $507.75 +$ 6.50 Nickel** $ 5.86 +$ 0.01 Lead** $ 0.32 +$ 0…
Survey hits strong anomaly in unexplored area of Gaspe
A geochemical study conducted by the Geological Survey of Canada has come up with some interesting base metal anomalies in a relatively unexplored area south of Rimouski, Que. The GSC says it receiv…
Mining Congress calls for deepsea research
The American Mining Congress (AMC) has called for the reauthorization of the Deep Seabed Hard Mineral Resources Act for a further three years at an annual funding level of $1.5 million(US). The AMC to…
China opening Toronto office for trading of non-ferrous metals
China is bringing its direct approach in the buying and selling of non-ferrous metals to Canada. The China National Nonferrous Metals Import & Export Corp. (CNIEC) has been active in the purchase of C…
Noranda increases stake in Falconbridge to 25%
It may be that Noranda Inc. (TSE) was simply trying to consolidate its status as Falconbridge Ltd.’s (TSE) largest shareholder when it bought 3.5 million of the nickel miner’s common shares recently f…
Australian companies in deal Control of Cinola changes hands
The large scale Cinola gold project located in the Queen Charlotte Islands of British Columbia is falling increasingly into the hands of Barrack Mines Limited of Australia. Barrack is a diversified mi…
IOCC GOLD OPTIONS (June 12, 1989)
Options Open Series Volume Last Interest Aug 370 C 168 12.00 514 Aug 380 C 240 8.50 1,060 Aug 400 C 110 3.50 2,555 Aug 420 C 1,380 …