Planned transfer of interests fails
A proposed transfer of the Magino and Magnicon mining properties to a newly formed joint exploration company will not proceed. The proposed transaction involved Flanagan McAdam Resources (TSE), McNell…
News
Int’l Homestead hits gold and zinc in Kirkland Lake-Larder
International Homestead Resources (VSE) is one of many companies with projects under way in the Kirkland Lake-Larder Lake camp of northeastern Ontario. Drilling to test a 6-channel, airborne electroma…
STOCK MARKETS — Golds add oomph to New Year
Now that’s the way to kick off trading on the first day of a new year. The Toronto Stock Exchange 300 Composite Index, fueled largely by the gold sector, climbed 47.11 points on Jan. 4 to close our re…
METALS COMMENTARY — Interesting year ahead for metals
Along with everyone else, Canadian metal producers finished 1993 with a sigh of relief, and hope for a better year ahead. Last year, amidst the most severe recession in decades, Canadian miners were i…
Valdez acquires more Mexican claims (January 10, 1994)
Minera Valdez Gold S.A. de C.V., a wholly owned subsidiary of Valdez Gold (ASE), has staked additional ground in Sonora state, Mexico. The 177-sq.-mile property, known as Marisa, adjoins the company’s…
STOCK MARKETS — Gold bugs aglow as indexes post gains
Gold bullion continues its ascent as we begin a new year, finishing the period ended Jan. 4 at the US$394.10-per-oz. level for a gain of about US$8.35 per oz. Strength in the yellow metal helped the V…
Thunderwood options Buchans
Thunderwood Resources (TSE) has optioned a property adjoining the past-producing Buchans base metal mine in west-central Newfoundland. The 279-claim property comprises 11,030 acres and covers the know…
Private placement for Shore Gold Fund
Saskatoon, Sask.-based Shore Gold Fund (ASE) has completed a private placement of 1.4 million shares at 25 cents each and issued an additional 483,549 shares at the same price. Proceeds will be used t…
St. Genevieve sells Louvem stake
Montreal-based St. Genevieve Resources (TSE) intends to sell all or part of its 11 million common shares in Louvem Mines (TSE) to the highest bidder. The block represents 43% of all issued and outstan…
NEWS ROUNDUP — Waddy excavates ramp at Komis
Waddy Lake Resources (TSE) continues to excavate a decline on the Komis gold project in northern Saskatchewan. The work will enable the company to extract a 10,000-tonne bulk sample from the A and C z…
Rea options advanced project in eastern Nevada
Under an option agreement, Rea Gold (TSE) can acquire the Mount Hamilton gold project in eastern Nevada. Rea is completing a due diligence review which should be finished early in the first quarter. I…
Spot prices at a glance (January 10, 1994)
Week’s Price (US) Change Gold* $394.00 + $8.35 Silver* $ 5.23 + $0.14 Platinum* $397.00 + $8.50 Nickel** $ 2.39 – $0.03 Lead** $ 0.21 – $0.01 Copper $ 0.79 – $0.03 Zinc $ 0.45 + $0.01 Courtesy of Scot…