Aurizon adopts `poison pill’ plan
Future producer Aurizon Mines (TSE) has adopted a Shareholder Rights Protection Plan designed to discourage unfair takeover attempts. The plan, similar to other “poison pills” adopted by Canadian publ…
News
MINER DETAILS — Bank of Canada outsells Barrick
Before the 1987 market crash, predictions that gold would exceed US$1,000 per oz. were thrown about with ease. Remember the Aden sisters, and the lineups to buy gold at US$800? These days, though, it …
RFC issues debenture to Minnova
RFC Resource Finance (TSE) says it plans to issue an unsecured 7% convertible debenture to Minnova (TSE) for $6.6 million, maturing in 10 years. Interest at 7% per annum will accrue for the first thre…
LETTERS TO THE EDITOR — OSC new rules pose dilemma
The Ontario Securities Commission’s proposed new rules for marketing low-cost speculative securities by dealers who are not members of The Toronto Stock Exchange or Investment Dealers Association, I a…
METAL PRTCES — FREE MARKET
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Sept. 15 Sept. 14 Sept. 11 Sept. 10 Sept. 9 Copper 1289-1290 1279-1280 1242-1243 121…
PRODUCER PRICES (September 21, 1992)
ALUMINUM: MW U.S. market US59.25-59.75 cents per lb. (Sept. 3, 1992). ANTIMONY: MW New York dealer US78-88 cents per lb. (Jun. 11, 1992). BISMUTH: MW New York dealer US$2.35-2.70 per lb. (Jun. 11, 199…
Barnwell acquiring shares in MSV
A private company incorporated in the British Virgin Islands, Barnwell Investments Ltd., has an agreement with Northgate Exploration (TSE) to acquire more than 5.6 million shares of MSV Resources (ME)…
17 individuals nominated for Canadian Mining Hall of Fame
The Canadian Mining Hall of Fame has released the names of 17 nominees eligible for the next induction in Toronto on Jan. 11, 1993. The eight successful nominees will be announced before year-end. The…
Employees plan buyout at Balmer
Former employees of Westar Mining’s (TSE) Balmer coal mine here in the Canadian Rockies are learning all about uncertainty. To save their jobs in this picturesque town of 5,000, their union, United Mi…
Sutton drilling in Tanzania returns nickel-cobalt values
Drilling on the Block 2 deposit at the Kabanga nickel-cobalt prospect owned by Sutton Resources (VSE) returned a number of wide, near-surface intersections confirming the project’s bulk-tonnage potent…
NEWS ROUNDUP — Sherritt makes public offering
Nickel refiner Sherritt Gordon (TSE) says it will make a public offering of shares and warrants worth $60 million. The offering consists of 7.5 million units priced at $8 per unit. Each unit is made u…
Securities dealers say OSC trying to shut them down
The nine member firms of the Securities Dealers Society of Ontario (SDS) have launched a lawsuit against the Ontario Securities Commission (OSC) and the OSC’s chief compliance officer, Donald Page, ov…