Gold funds as of Sept 5
MPV BGR Central Capital Net value$11.60 $ 5.80 $0.58 Price$10.00 $ 5.62 $0.29 Discount13.79% — 3.0% 50% Value$69,051,211.97 $97,624,302 N/A…
Articles by Northern Miner Staff
Glencairn gets funds for diamond property
A $1.32-million(US) financing agreement to develop a diamond property has been finalized between Glencairn Explorations (ASE) and Banco Multiplic SA, a Brazilian affiliate of Lloyds Bank. About $700…
Amax bows out of takeover fight for Falconbridge
Unless a third party comes forward or bidder Amax Inc. (NYSE) has a change of heart, it appears Noranda Inc. (TSE) and Trelleborg AB of Sweden will gain contr ol of nickel producer Falconbridge Ltd. (…
The life of the Cassiar Asbestos mine has been
extended an extra three years, thanks to the discovery of more prelimin ary reserves this summer. “It was 10 years. Now it’s 13,” underground mine superintendent Gerald Verret says of the mine life. “…
News in Brief (September 11, 1989)
Blackdome Mining has merged into MinVen Gold Corp. (MVG: TSE, VSE) each on a share-for- share basis. Blackdome shareholders have received payment of a special dividend of 42.5 cents per share.
Granges boosts gold production in first half
Consolidated gold production for Granges Inc. (TSE) rose to 47,351 oz in the first half of 1989 from 25,687 oz in the comparable pe riod last year. The company reported consolidated gold production of…
Nerco acquires Texasgulf Minerals
Although financial details of the transaction weren’t disclosed, the minerals subsidiary of Nerco Inc. (NYSE) has acquired all the outstanding co mmon stock of Colorado-based Texasgulf Minerals and Me…
Boston Bay has 90% control of Lac des sles
In a recent story on Madeleine Mines, it was stated that Belleterre Quebec owns 90% of The Platinum Group. As that property was owned by Boston Ba y, was tha t company taken over by Belleterre? Please…
Moss gets approval for Power purchase
Toronto-based Moss Resources (ASE) says it has entered into a $500,000 flow-through private placement with Goldnev Resources In other news, Moss says the transfer ot its interests in 21 mineral proper…
Reed seeks funding
An equity financing is being sought by Reed Lake Exploration (ASE). If completed, the cash raised would fund a follow-up exploration program o n Reed’s Holdswo rth gold property near Hawk Junction, On…
Scot, Beauchamps deal
Beauchamps Exploration (VSE) has granted an option to Ascot Resources (VSE) which gives Ascot the right to earn a 50% interest in the company’s 6,000-acre pro perty in the Stikine area of northwestern…
Rayrock, partners place Marigold into production
A new heap leach gold operation in northern Nevada, the Marigold mine, has enered commercial production. Operated by Rayrock Yellowknife Resources (TSE), the mine will produce a projected 60,000 oz pe…