Broker disclosure required in U.S.
Brokers in the U.S. must now disclose to their customers any payments they make to market makers to execute the orders of customers. The Securities and Exchange Commission in Washington recently appro…
News
Wrightbar, Charlim plan new company
A new company is to be formed, combining some of the gold and lithium properties held by Wrightbar Mines (ME) and Charlim Resources (VSE). Wrightbar shares will be consolidated on a 2-for-1 basis, aft…
Aggressive growth strategy — Kinross to acquire Ridgeway
Having agreed to buy the Ridgeway mine near Columbia, S.C., Kinross Gold (TSE) is poised to generate 500,000 oz. gold and gold equivalent per year. It will acquire the mine by buying Kennecott Ridgewa…
PRODUCER PRICES (October 10, 1994)
ALUMINUM: MW U.S. market US78.5-79.5 cents per lb. (Sept. 22, 1994). ANTIMONY: MW New York dealer US$2.80-2.90 per lb. (Sept. 30, 1994). BISMUTH: MW New York dealer US$3.90-4.30 per lb. (Sept. 30, 199…
U.S. Congress fails to reform 1872 Mining Law
Intense lobbying from mining companies and the impending end of the congressional session in the U.S. have sunk efforts to rewrite that country’s 122-year-old Mining Law. In late September, frustrated…
10 (October 10, 1994)
Consistent with its objective of becoming a pure silver company, Pan American Minerals (TSE) is acquiring two undeveloped silver properties in the U.S. from Asarco (NYSE). The principal property is th…
Mutual busy in Ghana
Three deals concerning gold concessions in Ghana have been struck among Mutual Resources (VSE), EQ Resources (CDN) and Opawica Explorations (TSE). Mutual can acquire EQ’s interest in Ghana-based SETO …
Camnor drilling at Willoughby
Gold-silver results are reported from a 17-hole program on Camnor Resources’ (VSE) Willoughby project, east of Stewart, B.C. The junior is earning a half interest in Willoughby by spending $600,000 on…
Comaplex finishes Rankin Island drilling
Drilling on Comaplex Mineral’s (TSE) 50% held Meliadine gold property, near Rankin Inlet, N.W.T., has been completed and results are pending. The 9,920-ft. program concentrated exclusively on the 4,60…
Pacific Rim exploring Diablillos
An 11-hole, 2,014-metre drill program has ended on the Diablillos project in northern Argentina. Owned and operated by Pacific Rim Mining (VSE), Diablillos is a 3,600-hectare epithermal gold-silver pr…
Pacific Falcon drills in Philippines
Vancouver-listed Pacific Falcon Resources is set to launch a drilling program in an effort to delineate the Guinaoang deposit on the Philippine island of Luzon. To date, 38 holes, totaling more than 3…
Corrections (October 10, 1994)
A report on diamond exploration in the Prairies (T.N.M., Sept. 26/94) incorrectly stated that Shaun Spelliscy presides over the company Indicator Exploration. Indicator’s president is John Lee. The co…