FINANCING (March 06, 1989)
VANCOUVER Hisway Res Corp — 600,000 offered @ 45 cents per sh. Kosa Res Ltd — gross proceeds rec $234,500. Shiva Ventures Inc. — gross proceeds rec $144,000. MacDougall Devel Corp — gross proceed…
News
Juniors seek alternatives to fund exploration plans
The decline in gold prices to below $400(US) per oz combined with the reluctance of speculative investors to place their money into exploration equities, is playing havoc with the junior exploration s…
Frnakfield shows signs of reviving
Shareholders of Frankfield Exploration (ASE), which has remained relatively dormant of late, are likely to see their company become more active. “We are going to be on the lookout. We certainly won’t …
Metal Prices PRODUCER PRICES (March 06, 1989)
ALUMINUM: MW U.S. Market 97 cents – $1.00(US) per lb. (Feb 16, 1989). ANTIMONY: New York dealer $1.00- $1.03(US) per lb. (Jan 19, 1989). BISMUTH: New York dealer $6.40-$6.60(US) per lb (Feb 16, 1989)….
Westmin completes exploration tunnel
The driving of a 1.2-mile exploration tunnel on the Debbie and Yellow properties on Vancouver Island was completed by operator Westmin Resources on schedule. The tunnel will provide access for undergr…
Student shortage
A disturbing fact came out at the second annual Central Canada Geological Conference held in Toronto last February. During a panel discussion entitled The University-Industry Relationship — The Next …
Restrictions delay exploration in Toodoggone area
With the Cheni gold project now in production, Vancouver-based Energex Minerals (TSE) has the most advanced exploration project in the Toodoggone area north of Smithers, B.C. But a decision on a combi…
Levon reports gold discoveries from Congress
Several high grade gold discoveries were made by operator Levon Resources (TSE) during recent underground work on the Congress project located near Gold Bridge, B.C. The project is a 50/50 joint ventu…
Toronto Stock Exchange Rising rates take toll on bullion and
A concerted effort by the Federal Reserve Board in the U.S. to keep a firm lid on inflation is taking its toll on equities and gold bullion — the latter a traditional inflation hedge. Rising interest…
Newfields awaits further financing
Underground exploration work by Newfields Minerals (TSE) in the Kirkland Lake, Ont., area has been placed on hold pending further financing. The company is negotiating a private placement out of New Y…
Indonesian gold mining
The first of Indonesia’s new wave of gold mines has begun production in Central Kalimantan, and an Australian shareholder — lauding Indonesia’s investment climate — expects to recoup a $13.1-million…
Inco to spend $6.5 million at Snow Lake
A $6.5-million underground exploration program being conducted by Inco Gold, a wholly- owned affiliate of Inco Ltd. (TSE), on the former producing Snow Lake gold mine is yielding excellent results. Dr…