Eastern Stone buys Belrose interest
Toronto-based junior Eastern Stone Products (ASE) has arranged to buy the remaining 25% interest in Belrose Minerals in exchange for 500,000 Eastern common shares. Upon completion of the deal, Eastern…
News
NO HEADLINE (June 28, 1993)
Financings totaling US$27.9 million will enable Canyon Resources (NASDAQ) to advance two gold projects in the western U.S. and continue drilling three gold discoveries in Nevada, Montana and the Domin…
NEWS ROUNDUP — Soquem options Quebec copper play
In an agreement with Virginia Gold Mines (ME), Soquem will acquire a 50% interest in the Sagar-I copper property, 85 km south of Fermont, Que. Soquem must subscribe to a private placement in Virginia …
NEWS ROUNDUP — Wheaton completes private placement
A private placement worth $450,000 has been completed by Wheaton River Minerals (TSE). Two institutional investors each subscribed for 703,125 units at 32 cents each. Each unit consists of one common …
NEWS ROUNDUP — Gold Reserve receives extension
The Venezuelan ministry of energy and mines has granted Gold Reserve (NASDAQ) a 10-year extension to explore and develop its Alfa diamond and gold concessions in east-central Venezuela. Several diamon…
LAST BUT NOT LEAST — Adrian options Panama concessions
Under an option agreement, Madison Enterprises (VSE) can acquire a 50% interest in the Belencillo concession in Panama. To do so, it must pay Adrian Resources (VSE) $250,000 over four years, issue 200…
LAST BUT NOT LEAST — Arimetco increases copper output
Toronto-listed Arimetco International plans to increase copper production next year to about 50 million lb. compared with roughly 26 million lb. this year. The higher output would mean a 10 cents drop…
LAST BUT NOT LEAST — Central Fund sells warrants
Central Fund of Canada has sold 1,275,000 special warrants at $6.13 per special warrant. The issue raised $7.8 million. Each special warrant entitles the holder to receive a Class A share of Central F…
LAST BUT NOT LEAST — Cercal to drill Portuguese prospect
Drilling is to begin shortly on the Odemira polymetallic project in southern Portugal, reports owner Cercal Minerals (ASE). The 4,000-5,000-metre program will test eight gravity anomalies inferred to …
Mexican government focuses on environment
Until a couple of decades ago, terms such as “ecology,” “pollution,” “environmental protection” and “reforestation” were seldom heard in the Mexican mining industry. Today, they are not only heard eve…
Chesbar, Spirit in Venezuela
Two Montreal-listed companies, Spirit Lake and Chesbar Resources, plan immediately to explore their newly acquired La Salle concession in the Anacoco area of Venezuela. The option (30% for each compan…
Gold City acquires western gold claims
Calgary-based Gold City Resources (ASE) has optioned 450 claim units in southern British Columbia from a private Alberta company in return for the issuance of shares. Exploration on the 25,000-acre pr…