Aur bids $8.3 million to take over Louvem
Small Quebec gold producer Louvem Mines (TSE) is being taken over by Toronto-based Aur Resources (TSE). Aur says it will spend $8.3 million to acquire about 65% of the common shares of Louvem, which o…
News
Corona takeover offers extended two weeks
A 2-week extension has been announced by Corona Corp. (TSE) on its takeover offers for Dickenson Mines (TSE) and Kam-Kotia Mines (TSE). The original deadline for shareholders to respond was March 7. C…
Industry looking to extend the exploration momentum
If the Prospectors and Developers Association of Canada (PDAC) wanted to get one message across at its 1989 convention, it was that a healthy Canadian mining industry is one characterized by a vibrant…
FINANCING (March 13, 1989)
Hisway Res Corp — gross proceeds rec $270,000. Sheba Copper Mines — gross proceeds rec $316,867.08 Premier Gold Res Inc. — min 500,000 offered @ 45 cents per sh. Golden Grail Res — 650,000 offere…
N.B. confident in MDA negotiations (March 13, 1989)
Having negotiated the country’s first Mineral Development Agreement (MDA) with the federal government in 1984, the government of New Brunswick (now under Frank McKenna’s Liberals) is confident a secon…
Spot prices at a glance (March 13, 1989)
Price Week’s ($US) Change($) Gold* 393.10 + 7.00 Silver* 5.90 — 0.06 Platinum* 538.85 + 3.35 Nickel** 8.35 — 0.18 Lead** 0.27 Copper- 1.57 + 0…
Commodity index reaches new high
Helped along by metals prices, Scotiabank’s all-commodity price index rose by 1.8% in January. The index reached its highest level in the current business cycle and stands 7.6% above the 1980 peak in …
OMA elects new chairman
Andrew Rickaby, vice-president, of mining for Denison Mines, has been elected chairman by the board of directors of the Ontario Mining Association (OMA) for 1989/90. His election was announced by Patr…
Northgate bails out Neptune
Truckers were preparing to haul mining equipment once again to Neptune Resources’ (TSE) Colomac gold property following news that Northgate Exploration (TSE) has agreed to provide a $40-million bridge…
Noranda earnings
Booming commodity prices helped Noranda Inc. (TSE) earn $603 million or $3.14 per share in 1988. This compares with earnings of $343 million or $2.14 per share in 1987. The company’s mining division r…
Platinova, Corona target gold, pgm in Greenland
Exploration of a layered mafic intrusive complex along the east coast of Greenland has confirmed the presence of gold and platinum group metals, Platinova Resources (TSE) reports. The East Greenland p…
Metal Prices (March 13, 1989)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Mar 7 Mar 6 Mar 3 Mar 2 Mar 1 Copper 1…