Burgess Point to buy Vencorp
Toronto-based Burgess Point Resources (CDN) plans to acquire Venezuelan Mineral Development Corp. (Vencorp). The proposed takeover would see Burgess shares consolidated on a 1-for-7 basis. Shares of V…
News
Two Newmonts combine assets, reserves
Denver-based Newmont Mining and 90.1%-owned subsidiary Newmont Gold will combine their assets, gold reserves and operations. The plan calls for Newmont Mining to move all its operating assets, liabili…
Eden Roc sells warrants, explores Ivory Coast
Eden Roc Minerals (TSE) will soon have nearly $18 million to spend on its vast exploration territory in Ivory Coast. The company issued 3 million warrants through brokerage house Scotia McLeod. Each w…
Placer Dome plans to spend $12-m on Musselwhite project
Placer Dome Canada, the new business unit of Placer Dome (TSE), is poised for a busy year in 1994. Thats when the unit will oversee a $12-million program to advance the Musselwhite gold property in th…
Review promised of Windy Craggy
British Columbias ombudsman has promised to review the process that led to the provincial governments decision to create a park in the northwestern area known as Haines Triangle. Last year, Premier Mi…
Expectations run high for Kilometre 88
Hopes are high for companies active in Venezuela, particularly those with ground in the Kilometre 88 region on the eastern border of the country. Placer Dome (TSE) sparked a rush in the area in late 1…
Ontario orders Denison to post $100 million bond
Already teetering on the verge of bankruptcy, Denison Mines (TSE) has been pushed even closer to the edge after being served two orders by the Ontario government to clean up its former uranium mining …
Saudia Arabia an oasis of exploration
Saudi Arabia is known primarily for three things oil, sand and petro-dollars. The Saudis want to add metal mining to that list. Few people regard the desert kingdom as holding out much hope for base o…
Table Mountain development going smoothly for Cusac
Murphys Law appears to have been repealed at the Table Mountain project near Cassiar, B.C. Cusac Industries (TSE) has found that the Michelle Highgrade zone is not under water as previously thought. I…
Rio Algom terminates Key Anacon option
Citing the unlikelihood of finding a base metals deposit to meet its economic requirements, Rio Algom (TSE) has dropped its option on the Key Anacon Mines (TSE) property in the Bathurst camp of New Br…
Flag resumes drilling Wanapitei anomaly
Drilling has resumed at Flag Resources (ASE) Wanapitei property near Sudbury, Ont. At presstime, a 1,700-ft. hole at Wolf Lake had been extended to 2,000 ft. on its way to a targeted depth of 3,000 ft…
Record price paid for Nymex seat
A seat on the New York Mercantile Exchange (Nymex) recently sold for a record US$400,000. The previous high of US$395,000 was set a few days earlier, which surpassed an earlier record value of US$350,…