NEWS ROUNDUP — MinVen now Dakota Mining
With its corporate restructuring now complete, MinVen Gold is now known as Dakota Mining (TSE). The company eliminated its debt with a US$11-million private placement, leaving about US$7 million in ca…
News
GOLD FUNDS (October 18, 1993)
Gold Funds as of Oct. 12 BGR Central Net Value $13.79 $5.88 Price $12.88 $6.625 Discount 6.63% 12.7% Value $77,238,000 $119,907,863…
Haste, Murphy’s Law contributed to Summitville’s demise
Several post-mortems on the Summitville gold mine have concluded that its ultimate demise ensued from a cascading chain of smaller failures which began well before Galactic Resources (TSE) commissione…
LETTERS TO THE EDITOR — Ministry moving on closure plans
I would like to express my concern with some of the statements contained in “Green revolution spawns expensive red tape” (T.N.M., Aug. 30/93) by Jack Dupuis. Ontario has moved a long way during the pa…
IN BRIEF — New zinc plant cuts emissions
A new zinc pressure-leach plant is operating at Hudson Bay Mining & Smelting’s facilities in Flin Flon, Man. The plant, which can produce 104,000 tons of slab zinc per year, uses technology developed …
IN BRIEF — Cameco continues Trev option
Having finished a $225,000 exploration program, Cameco (TSE) has elected to continue its option agreement with Trev (ASE) in the Stewart camp of northwestern British Columbia. Cameco will continue to …
Cyprus-Lac partnership wins bid for El Abra project
In the largest foreign investment project in Chile’s history, joint-venture partners Lac Minerals (TSE) and Cyprus Minerals (NYSE) have beat out eight competitors for the right to buy a 51% stake in t…
TSE SHORT POSITIONS (October 18, 1993)
Semi-monthly reports as of Sept 30, showed 82,769,360 shares of 773 issues compared with 76,538,373 shares of 760 issues on Sept 15. Larger individual positions included: Aber 135,000; Agnico-Eagle 10…
Princeton clears $3.6-m legal tangle
Beleaguered Princeton Mining (TSE) has been released from a potential $6.3-million claim by the trustee for Cassiar Mining. The claim relates to a previous financial transaction between Princeton and …
Willingdon to drill Sioux Narrows bet
Toronto-based junior Willingdon Resources (CDN) plans more drilling on its gold property near Sioux Narrows, Ont. Last winter’s program extended the mineralized zone out under Lake of the Woods. The c…
Takla Star earns interest
Alberta-listed Takla Star Resources has entered two agreements with Uranerz U.S.A. (a unit of Uranerz Exploration & Mining) to explore the Slaven Canyon gold projects in Lander Cty., Nev. The projects…
`We’ll hit the motherlode,’ says president — Persistence
It has turned into a rough year for Western Quebec Mines (TSE), but the company, with a small producing gold property near here, is not about to throw in the towel. The junior was hoping to increase p…