Curragh offering worth $50 million
To improve liquidity, Curragh (TSE) is offering $50 million of convertible preferred shares to institutional investors. The new shares, which will be offered at $1.20 each, will be convertible into su…
Articles by Northern Miner Staff
Record Pegasus production
Record gold production combined with lower cash costs helped Pegasus Gold (TSE) report a record cash flow for the year ended Dec. 31, 1992. The company produced 382,100 oz. gold during the year from i…
TORONTO STOCK EXCHANGE INDICES (March 08, 1993)
Mar.2 Mar.1 Feb.26 Feb.25 Feb.24 High Low Composite”300″3446.22 3432.69 3451.69 3459.94 3465.75 4009.47 3009.91 Metals&Minerals 2833.00 2859.05 2908.11 2911.26 2922.26 3453.06 2502.63 Integrated Mines…
Teck sale boosts Metall profit
A $6.5-million gain on the sale of its Teck (TSE) shares helped boost Metall Mining’s fourth-quarter earnings to $9.78 million last year (18 cents per share) from $1.03 million (2 cents per share) in …
BMR, Rea join forces
The recent joint-venture agreement between BMR Gold (TSE) and Rea Gold (TSE) will lead to a 2-phase development and operation program at BMR’s Comstock gold project near Carson City, Nev. Rea Gold wil…
Royalty of 12.5% proposed by new U.S. administration
The Clinton administration in the U.S. is proposing a 12.5% royalty on hardrock minerals mined on public lands. President Bill Clinton’s economic plan to revive the American economy would also see a t…
Kennecott adds to coal assets
Fresh from its anouncement of the acquisition of Nerco (NYSE), Kennecott says it has agreed to purchase Cordero Mining Co. which operates a low-sulphur coal mine in Wyoming’s Powder River Basin. Nerco…
NEWS IN BRIEF (March 08, 1993)
Carolina Gold Resources Ltd. (CJE:VSE) has changed its name to Rutherford Ventures Corp. (RVC:VSE) with a consolidation of capital on a 1-new-for-2-old-share basis. The transfer agent is Pacific Corpo…
STOCK MARKETS — Market speculation returns diamond stocks to
Diamond stocks sprang back to life during the week ended March 2 with several of the main Lac de Gras, N.W.T., players touching new highs on speculation over spring drilling programs. Among those ente…
Partners Carson, Venezuelan Gold add to holdings
Joint-venture partners Carson Gold (VSE) and Venezuelan Goldfields (VSE) are further expanding their land package in the Kilometre 88 district of Venezuela. The two companies have entered into an agre…
Mazarin reports asbestos earnings
The asbestos assets of Societe d’Exploration Miniere Mazarin (ME) are paying off. The Quebec City-based company reports nine-month net earnings of $9.7 million (27 cents per share, diluted). During th…
Royal Oak proposes acquisition of Colomac
In a deal that works out to be roughly 5 cents on the dollar, Royal Oak Mines (TSE) is proposing to acquire the Colomac gold mine and related assets 130 miles north of Yellowknife, N.W.T. The acquisit…