NEWS IN BRIEF (November 30, 1992)
Consolidated Regal Resources Ltd. (KRE:VSE) has changed its name to Fresco Developments Ltd. (FDP:VSE) with a consolidation of capital on a 1-new-for-2.5-old-share basis. The transfer agent is Montrea…
News
EXPLORATION ’92 — Crown looks at alternatives
In an effort to enhance shareholder value, Crown Resources (TSE) recently engaged financiers CS First Boston Group to help it investigate “strategic alternatives.” The options being considered include…
EXPLORATION ’92 — Argyle mine largest diamond producer
The world’s largest producing diamond mining project is the Argyle open pit mine in western Australia, 2,200 km northeast of Perth. Argyle, which produced 35 million carats in 1991, is 40% owned by As…
Bank backs Teck’s Balmer bid
An offer by Luscar to buy the Balmer and Greenhills coal mines in southeastern British Columbia was blocked by a creditor of the mines’ former owner, bankrupt Westar Mining. The Bank of Montreal oppos…
NEWS ROUNDUP — NCG acquires control of Nova-Cogesco
Following a successful takeover bid, NCG Acquisition, a unit of Hughes Lang (VSE) and its 53% owned subsidiary Orofino Resources (TSE), has acquired about 51% of the outstanding shares of Nova-Cogesco…
Land access rights focus of mineral outlook conference
The president of Westmin Resources (TSE), Walter Segsworth, speaking here at the recent 10th Mineral Outlook Conference, summed it up nicely: “Canada needs mining and mining needs land.” Segsworth spo…
Diamond play recovers from core contamination
The credibility of the Lac de Gras diamond play suffered a serious blow recently when the Aber-Commonwealth-SouthernEra joint venture mistook synthetic drill bit diamonds for natural stones derived fr…
VSM, Serem plan major underground program for Grevet
An underground exploration program at the Grevet zinc project in northwestern Quebec is planned by VSM Exploration (ME) and Serem-Quebec. An agreement-in-principle has been reached by the two companie…
NEWS ROUNDUP — Kirkton swings deal with Phelps Dodge
An option to acquire an interest in the Shunsby copper-zinc-lead-silver property from Kirkton Resources (CDN) in the Swayze area southwest of Timmins, Ont., has been negotiated by Phelps Dodge Corp. o…
NEWS ROUNDUP — High-grade gold found in Greenland
A number of gold-bearing quartz veins have been discovered in South Greenland by Nunaoil, an exploration company owned 50% by the Danish government and 50% by Greenland’s Home Rule government. The lar…
ODDS ‘N SODS — How Geraldton became a boom town
In the early 1930s, the mining community of Geraldton, Ont., became an exciting beneficiary when the U.S. increased the price of gold by 75%. Gold became an important motivator. In Timmins, Ont., the …
Kilborn offices in Latin America
The depressed state of the Canadian mining industry is sending companies abroad with different strategies in the search for new business opportunities. Kilborn Engineering and Construction Ltd., for e…