Correction (March 28, 1994)
Colorado-based Horizon Resources (NASDAQ), which operated the Buffalo Valley heap-leach gold project in Nevada from 1987 to 1990 under the name Horizon Gold (T.N.M., March 7/94), returned the lease to…
News
NEWS IN BRIEF (March 28, 1994)
Severide Resources (SVE:VSE) has changed its name to Severide Environmental Industries on a share-for-share basis. It is no longer involved in mining.
Cadre lands Venezuelan ground
In return for quarterly payments of US$50,000, to a total of US$200,000 plus 100,000 common shares, Cadre Resources (VSE) can acquire the Venezuelan property known as El Encanto. Situated in the Marwa…
Orvana expands Bolivian activities
An agreement for joint exploration in Bolivia has been negotiated by Orvana Minerals (TSE) and its Bolivian partners, Empresa Minera Unificada S.A. (EMUSA) and Merwin Bernstein. The agreement includes…
MacDonald Mines secures financing
A numbered Ontario company has agreed to underwrite private placements of MacDonald Mines Exploration (CDN). The placements will be in the form of treasury shares and warrants and will be worth up to …
Government of Ghana reducing Ashanti stake
The parliament of Ghana has authorized the government to privatize gold producer Ashanti Goldfields. Minister of Finance and Economic Planning Kwesi Botchway told Agence France Presse in Accra that “t…
Gold Reserve gets more financing
Having just negotiated a private placement of one million special warrants in February, Gold Reserve (TSE) reports that the underwriters have exercised their option for an additional million special w…
Falconbridge share issue pondered
The joint owners of Falconbridge, Noranda (TSE) and Swedish-based Trelleborg are investigating the possibility of a treasury issue of common shares of Falconbridge. Proceeds would be used to reduce de…
American Gem completes financing
Toronto-listed American Gem has issued to European investors 1.5 million shares at $3.88 per share. Proceeds from the $5.8-million offering will be used to make property payments and develop the Monta…
NEWS ROUNDUP — Santa Fe options Globex ground
By spending $2 million on exploration and paying $300,000 cash, Santa Fe Canadian Mining will earn a half interest in Globex Mining’s (ME) Victoria gold project. Situated in Clericy Twp., Que., the pr…
NEWS ROUNDUP — Annabel to explore Wyoming bet
Vancouver-listed Annabel Gold Mines has raised $700,000 to explore the Carissa mine property near South Pass City, Wyo. The mine is owned by Hol-Lac Gold Mines (CDN). Since its discovery in 1867, 30,0…
NEWS ROUNDUP — Mongolia Gold active in Bumbat
By carrying out exploration work in the Mongolian People’s Republic, Mongolia Gold Resources (MGR) is earning a 49% interest in the Bumbat property. The property is situated 200 km west of the north-c…