Falconbridge drills near Matachewan
Falconbridge has begun a 3,500-metre diamond drill program on the Robertson Twp. base metal property 14 km north of Matachewan, Ont. The 135-claim property, owned 40% by Strike Minerals (CDN) and 60% …
News
USMX completes Goldstrike purchase
Although the purchase price was not disclosed, USMX (NASDAQ) reports it has completed the acquisition of the Goldstrike mine near St. George, Utah, from owner Tenneco Minerals. James Knox, president o…
Exploration funds move southward
Gold companies in the U.S. are moving large portions of their exploration budgets to Latin America, where government leaders are actively revising mining laws to attract foreign investment, according …
Rusty Lake options Minnova property
Rusty Lake Resources (CDN) has an option to earn half of Minnova’s (TSE) interest in the Big Duck Lake gold property, near Schreiber, Ont. The 145-claim property covers several gold zones that are ass…
Curragh offering worth $50 million
To improve liquidity, Curragh (TSE) is offering $50 million of convertible preferred shares to institutional investors. The new shares, which will be offered at $1.20 each, will be convertible into su…
Record Pegasus production
Record gold production combined with lower cash costs helped Pegasus Gold (TSE) report a record cash flow for the year ended Dec. 31, 1992. The company produced 382,100 oz. gold during the year from i…
Echo Bay works to reduce Lupin costs
The struggle to stay profitable has intensified at the Lupin gold mine of Echo Bay Mines (TSE) as the gulf between production costs and market price narrows. Production costs at the mine, 250 miles no…
TORONTO STOCK EXCHANGE INDICES (March 08, 1993)
Mar.2 Mar.1 Feb.26 Feb.25 Feb.24 High Low Composite”300″3446.22 3432.69 3451.69 3459.94 3465.75 4009.47 3009.91 Metals&Minerals 2833.00 2859.05 2908.11 2911.26 2922.26 3453.06 2502.63 Integrated Mines…
Teck sale boosts Metall profit
A $6.5-million gain on the sale of its Teck (TSE) shares helped boost Metall Mining’s fourth-quarter earnings to $9.78 million last year (18 cents per share) from $1.03 million (2 cents per share) in …
NEWS IN BRIEF (March 08, 1993)
Carolina Gold Resources Ltd. (CJE:VSE) has changed its name to Rutherford Ventures Corp. (RVC:VSE) with a consolidation of capital on a 1-new-for-2-old-share basis. The transfer agent is Pacific Corpo…
BMR, Rea join forces
The recent joint-venture agreement between BMR Gold (TSE) and Rea Gold (TSE) will lead to a 2-phase development and operation program at BMR’s Comstock gold project near Carson City, Nev. Rea Gold wil…
Royalty of 12.5% proposed by new U.S. administration
The Clinton administration in the U.S. is proposing a 12.5% royalty on hardrock minerals mined on public lands. President Bill Clinton’s economic plan to revive the American economy would also see a t…