Western Quebec raises $600,000
To increase working capital, Western Quebec Mines (TSE) has arranged a private placement with four investors for proceeds of $600,0000. The placement consists of 15-month promissory notes at 9% and 24…
News
Jennings bullish on Point Lake
Using figures released by BHP Minerals Canada and Dia Met Minerals (VSE), Christopher Jennings, president of SouthernEra Resources (TSE), estimates that the Point Lake kimberlite in the Northwest Terr…
Fiedmont plans reorganization
A special meeting of Fiedmont Resources’ (CDN) shareholders has been called for Nov. 2, in order to approve a reorganization of the company. Fiedmont will no longer be involved in mineral exploration….
INSIDER TRADING — Aber insiders on sell side
Some insiders of diamond explorer Aber Resources (TSE) have been active sellers of late. Judith Barker, wife of insider Lee Barker, sold 5,800 shares in July and August for $1.60-1.90 to hold none. Hi…
LATIN AMERICA ROUNDUP — Mahogany, Lily option Chilean mine
International Mahogany (TSE) and parent North Lily Mining (NASDAQ) have formed a joint venture with the owner of the Santa Rosa copper mine in northern Chile. The Santa Rosa mine, within four kilometr…
LATIN AMERICA ROUNDUP — Dakota plans Andes pilot project
A letter of intent to develop ore reserves in the Andes has been entered into by Dakota Resources (ASE), through its Barbados subsidiary, with an unnamed South American producer of commercial iodine. …
LATIN AMERICA ROUNDUP — Even commences Chilean program
An exploration program is under way at the Inca de Oro gold project in northern Chile, Even Resources (VSE) reports. Initial work will include surveying and check sampling of the existing underground …
Menora completes private placement
A private placement of 1,125,000 units has netted Menora Resources (ME) $450,000. Each 40 cents unit consists of one share and one warrant. Redemption of two warrants plus 80 cents on or before April …
Tan Range acquires Tanzanian property
A 100-sq.-km gold concession in northern Tanzania has been secured by Tan Range Exploration (ASE). The property in the Igogo Hills area covers a deformed banded iron formation. Sampling has returned g…
Staking in Alberta for diamonds could rival Lac de Gras
The diamond rush in Alberta may soon rival the Northwest Territories play in terms of surface area if land acquisition continues at current levels. The Alberta land grab now covers an estimated 12 mil…
NEWS ROUNDUP — Spirit Lake awards sampling contract
Mississauga mining contractor Extender Minerals has been awarded the bulk-sampling contract for Spirit Lake Explorations’ (ME) Edwards gold property near Wawa, Ont. The first phase of the 2-phase prog…
New TSE rules shut out juniors
The Toronto Stock Exchange may have shut the door on junior mining companies by tightening its listing requirements. Under the revised rules, all new companies must have a public float of $2 million, …