Lac boosts loan by US$100 million
A US$70 million, 5-year loan to Lac Minerals (TSE) has been increased to US$170 million. The new loan, arranged with a syndicate of Canadian and international banks led by N.M. Rothschild and Sons, wi…
News
Gold Funds (October 26, 1992)
BGR Central Net Value $8.03 $5.12 Price $6.75 $4.80 Discount 15.95% 6.3% Value $46,972,000 $80,756,640…
Kennecott funds drill program by Valerie near Fish Lake
A drill program by Valerie Gold Resources (VSE) will begin shortly on the Mega-Gold property in the Taseko River region of southern British Columbia. The property, just 1.5 miles from Taseko Mines’ Fi…
Minieres du Nord to drill Le Tac West
A 1,500-metre drill program is planned by Explorations Minieres du Nord (ME) on its 42 claim Le Tac West property 160 km northeast of Amos Que. The program, slated to commence within the next few week…
Cominco, Teck fund Gerle to join N.W.T. diamond play
The Lac de Gras diamond play, which has so far been dominated by international majors, recently welcomed two of Canada’s leading mining companies. Affiliates Cominco (TSE) and Teck (TSE) have agreed t…
Exploration spending drop puts Canada behind U.S., Australia
Canada’s rank in terms of exploration for non-ferrous metals has dropped from first to third over the past year, according to a recent study by the Halifax-based Metal Economics Group. Expenditures on…
Diamond cartel relies on deep pockets
As more and more Canadian companies join the rush for diamonds, the market for their discoveries is looking increasingly vulnerable. A recent flood of gem-quality diamonds from Angola, where an estima…
NEWS ROUNDUP — Cominco delays increase in nickel output
A production increase planned for later this year was delayed by the owners of the Glenbrook nickel smelter because of current nickel market conditions. The smelter, near Riddle, Ore., is owned 50% ea…
LETTERS TO THE EDITOR — Sharing Senate seats
Forestry, mining and tourism are being handed from one government to another. The status quo of Northern Ontario resource-based communities may be eroded through the constitutional negotiations in nat…
NEWS ROUNDUP — Teck plans to drill Stratabound claims
Trenching and drilling are expected to get under way on the CNE/Captain group of properties in New Brunswick by year-end, reports property holder Stratabound Minerals (ASE). Teck (TSE) has completed a…
NEWS ROUNDUP — Soquem options Gaspe prospect
An option agreement covering 41 claims in Quebec’s Gaspe Peninsula, about 40 km northwest of Murdochville, has been signed by Soquem with three prospectors. Soquem, the mining exploration arm of the Q…
NEWS ROUNDUP — Alberta find may host minable deposit
After seven years of exploration in northeastern Alberta, a private Edmonton-based company, HMS Properties, says it has outlined a large deposit of metallic minerals in a Devonian limestone formation….