FINANCING (February 13, 1989)
VANCOUVER Quantum Res Corp. — gross proceeds rec $180,000. Safari Int’l Res — gross proceeds rec $140,000. Benton Res Ltd — 600,000 sold for gross $750,000. Davic Enterprises Inc — 450,000 sold fo…
News
Teck earnings up (February 13, 1989)
Higher gold production from the David Bell mine at Hemlo and increased base metal prices resulted in a significant increase in earnings for Teck Corporation (TSE) in 1988. The Vancouver-based corporat…
Gold loan for Glamis
A $10 million(US) gold loan involving about 25,000 oz has been arranged for Glamis Gold (TSE) by Gerald Metals of Stamford, Conn. Glamis says it will repay the loan, the carrying interest on which is …
Hislop bet contract let by Goldpost Res.
A contract has been let to complete a 10,000-ft underground drill program at Goldpost Resources’ (TSE) Hislop East property near Ramore in northern Ontario. The Hislop East property is straddled by th…
Uranium spot market prices drift lower
While base metal prices have been flying high, the spot market price of natural uranium has been in decline. Falling almost continuously since the summer of 1987, the U3O8 spot price was being reporte…
Three issues face mining industry in 1989
American Mining Congress (AMC) President John Knebel says three major legislative issues will face the U.S. mining industry in 1989 — retention of the 1872 Mining Law, state control of mine waste and…
Earnings Report (February 13, 1989)
Kam-Kotia (TSE) reports net earnings for the year ended Dec 31 of $2.47 million or 20 cents per share. For the same period a year earlier, the company reported net earnings of $2.23 million or 25 cen…
Golden Range seeks financing
Golden Range Resources (TSE) is seeking financing in the amount of $250,000 to fund exploration on the Sylvia gold-silver-zinc property 70 miles southeast of Flin Flon, Man. Work completed by Golden R…
Noranda, Freewest hit
Another strong hole has been completed by partners Noranda Inc. (TSE) and Freewest Resources (ME) on their Harker-Holloway gold property, east of Matheson, Ont. Hole 89-29 intersected 53.1 ft grading …
Initial drill results from Equinox’s J&L project
Assays were released from the first eight holes of a 10,000-ft drill program continuing on the J&L project located near Revelstoke, B.C. Equinox Resources (TSE) holds an option to a 50% direct interes…
Intex, Gowest drill gold zone
Drilling by New Texmont Explorations (ASE) on a property held by Gowest Amalgamated Resources (ASE) has encountered the down dip extension of the gold bearing Frankfield zone. Located in Tully Twp., n…
Magnola tests process to extract magnesium
Up to $3 million will be spent over a 2-year period by Lavalintech Inc. to test a process to extract magnesium from asbestos tailings in the Thetford Mines area of Quebec. The testing is the second ph…