PEOPLE — GLOBALTEX INDUSTRIES
R. Taylor appointed president; Orval Gillespie appointed chairman.
News
Ontex-Metalore lawsuit resolved
After seven years of legal battles, the lawsuit between Ontex Resources (ASE) and Metalore Resources (TSE) over the Brookbank gold property in northwestern Ontario has finally been resolved. The end c…
NEWS ROUNDUP — Sutton placement
A private placement of 316,305 units at $25.50 each will net Sutton Resources (VSE) about $8.1 million. Each unit includes a share, plus a 2-year purchase warrant exercisable at $25.50 in the first ye…
Drilling by Int’l Larder hits gold at Colorado play
A surface drill hole on International Larder Minerals’ (CDN) Cross mine property near Denver, Colo., has intersected gold mineralization. The hole, drilled to test the south side of a mineralized zone…
Atlas hoping ’94 a turnaround year
After three years of continuous losses, Atlas (NYSE) has adopted a plan to lift itself out of the red in fiscal 1994. The turnaround strategy is being implemented by a new management team headed by St…
Sampling at Keylock’s Slovak property yields gold
Favorable results have been obtained from preliminary exploration of Keylock Resources’ (ASE) gold property in the Slovak Republic. The program consisted of mapping, trenching, channel and chip sampli…
NEWS ROUNDUP — Aur sells shares
Underwriters Richardson Greenshields of Canada and Wood Gundy have agreed to sell five million shares of Aur Resources (TSE) at $5.60 per share. Teck (TSE) and Cominco (TSE), which hold a pre-emptive …
Work ongoing at properties of Silver Trend
Underground drilling has been completed at the Silver Strand gold-silver mine in Idaho’s Coeur d’Alene district. Silver Trend Mining (SpOTC) says six holes were drilled: two through the known orebody,…
COMMENTARY — The value of the prospector (January 10, 1994)
The prospector is the most useful man to commerce and the most valuable man to civilization. No prospectors, no mines. No mines, no civilization. Political economists tell us that, next to agriculture…
Piskahegan acquires Mount Pleasant in New Brunswick
The Mount Pleasant property in New Brunswick is getting a new look. Piskahegan Resources, a private company controlled by overseas investors, has acquired the project from Billiton Metals Canada and L…
Trying to balance mining and wildlife
As the debate over the reauthorization of the U.S. Endangered Species Act (ESA) intensifies, gold-mining companies, which have a big stake in the outcome, face a dilemma. While the industry supports t…
Antilles acquiring Venezuelan gold projects
Spokane, Wash.-based Antilles Resources (VSE) can acquire an 80% interest in two gold concessions in southeastern Venezuela. Each of the Janice I and II concessions covers about 12,355 acres and is un…