Metal Prices FUTURES PRICES (December 26, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US per lb.) Dec 159.50 156.00 158.90 + 6.90 Mar 136.90 133.90 136.00 + 7.00 May 127.50 125.80 126.9…
Articles by Northern Miner Staff
Northgate, MSV in financing deal
Northgate Exploration (TSE) has agreed to provide MSV Resources (ME) with a financing package totalling $6.5 million. This includes a $5.2-million bridge facility which must be paid back by April 30, …
Genesee Coal mine opens in Alberta
Fording Coal Limited has officially opened the Genesee Coal mine ahead of schedule and under budget. Located 55 km south-west of Edmonton, Alta., the Genesee Coal mine forms part of the Genesee Power …
VSE tightens listing requirements
Companies seeking a listing on the Vancouver Stock Exchan ge will now have to meet tougher original listing requirements, particularly for the financing of non-natural resource ventures. The new requi…
Can-Mac, Glen Auden assay results
Encouraging surface gold showings have been assayed by partners Can-Mac Exploration (VSE) and Glen Auden Resources (TSE) on their Topboot Lake property south of Timmins, Ont. Located in the Swayze are…
COATS Trading Features (December 26, 1988)
Recently revived Young-Shannon Gold Mines has arranged a private placement of flow-through shares in the amount of $300,000 at $1.00 per share to fund work on its gold property in Chester Twp., north …
Pamorex placement raises $3.5 million
Shareholders of Pamorex Minerals (TSE) recently gave their approval, at a special meeting, to a private placement with Giant Yellowknife Mines (TSE) involving about 4.8 million shares at $0.726 per sh…
Heavy trading in Inco shares
Calling Inco Ltd. (TSE) a heavy trader of late would be an understatement. The nickel producer, which recently received shareholder approval for a recapitalization plan involving a “poison pill” provi…
Goldpost Resources
Goldpost Resources (TSE) says it has entered into an agreement with 1988 Can-Tax Minerals Limited Partnership whereby the latter has agreed to fund a minimum of $825,000 and a maximum of $1 million of…
Nickel prices skyrocket while platinum plummets
An unusual double-peak in the current metals price cycle is being experienced by nickel, with the cash price of the metal at presstime hitting $9.16(US) per lb (with a 3- month price of $8.12) on the …
Montreal Exchange Livelier trading days
A relatively quiet market of late gave way to holiday-jitters during the report period, with investors in a more upbeat mood and Inco Ltd. reminding everybody what “heavy” trading is all about. On the…
U.S. REPORT (December 26, 1988)
U.S. Gold Corp. (NASDAQ) has completed a $12.75 million(US) private placement. Combined with an $18 million gold loan, the financing will provide the required funding for the expansion of a gold minin…