Financing (July 26, 1993)
Adda Minerals Company Ltd. — 800,000 shs @ 35 cents.
News
Tri-Origin funding
Toronto-listed Tri-Origin Exploration has arranged a bought deal with Gordon Capital to raise $1.05 million. The deal consists of 500,000 units at $2.10 per unit. Each unit consists of one common shar…
Lyndex issues shares
Toronto-based junior Lyndex Explorations (CDN) plans to issue $5 million in series B special shares on a private basis. The special shares will be convertible into common shares at $1 each and, under …
LATIN AMERICAN ROUNDUP — $4.7-million program at Petaquilla
A $4.7-million exploration program by Adrian Resources (VSE) will include about 15,000 metres of drilling to define known deposits further and continue testing several discovery areas on the Petaquill…
LATIN AMERICAN ROUNDUP — Zappa acquires Ecuador ground
By issuing 6.8 million common shares, Zappa Resources (VSE) plans to acquire 14 mineral property interests in Ecuador. On closing, 2.5 million shares will be issued to shareholders of Prominex, the Ec…
Ambitious Kinross buys Falconbridge Gold
Toronto-based Kinross Gold (TSE) is on its way to becoming a new player on the Canadian gold mining scene. Just last month the company purchased two U.S. gold mines for US$16.8 million (see separate s…
Placer sells Dona, mining to continue
With minable reserves nearly depleted, Placer Dome (TSE) has sold its Dona Lake gold mine to mining contractor Ross-Finlay for $2 million. The sale includes the mine, a 550-ton-per-day mill (south of …
Tenajon drilling tests Storm zone
Tenajon Resources (VSE) has released assay results from the first four holes drilled to test the Storm zone on the SB property near Stewart, B.C. The zone is believed to be a faulted-off portion of th…
Cambiex releases drill results from Philibert gold bet
Montreal-listed Cambiex Exploration has released initial results from a 14,000-metre program on the Philibert gold property near Chibougamau, Que. A hole drilled into Zone 179 intersected 10.2 metres …
NEWS ROUNDUP — Redstone arranges $16.5-million financing
Toronto-based royalty company Redstone Resources (TSE) has entered an agreement with Yorkton Securities, First Marathon Securities and Gordon Capital to issue three million special warrants at $5.50 e…
NEWS ROUNDUP — Louvem, St. Genevieve sell SEG
Privately owned Orimar Resources has acquired a 65% interest (10.2 million shares) in SEG Exploration (ME) from St. Genevieve Resources (TSE) and Louvem Mines (TSE). In return for the SEG shares, Orim…
Mineral rights relinquished for Yukon parkland
Six resource companies, Noranda among them, have sold and donated their mineral rights in the northwest corner of the Yukon. The move will result in the creation of a new park, Vuntut. Two-thirds the …