NEWS IN BRIEF (August 24, 1992)
Stoney Creek Mines Ltd. (STK:VSE) has changed its name to Cyn-Tech Ventures Ltd. with a consolidation of capital on a 1-new-for-3-old-share basis. The transfer agent is Montreal Trust.
News
STOCK MARKETS — Market trading listless; gold price in
Despite a momentary recovery in the price of gold, indices on the Vancouver Stock Exchange continued to drift during the period ended Aug. 18. From its July peak of about US$360 per oz., the yellow me…
TORONTO STOCK EXCHANGE INDICES (August 24, 1992)
Aug 18 Aug 17 Aug 14 Aug 13 Aug 12 High Low Composite”300″3377.82 3379.78 3368.47 3360.45 3377.75 4009.47 3009.91 Metals&Minerals 2990.72 3007.99 2973.02 2952.37 2948.27 3453.06 2502.63 Integrated Min…
MinVen loan is restructured
A $7 million loan which was to have been paid in full last January has been restructured by Citibank and MinVen Gold (TSE). Under the terms of the agreement, Citibank has released MinVen from various …
Cons. Nevada increases output
Production from a new mine enabled Consolidated Nevada Goldfields (TSE) to turn out a total of 28,132 oz. gold during its fiscal year ended June 30, more than double the previous year’s production of …
Friedland acquires Mt. Grant control
A control position in Mt. Grant Mines (VSE) was recently purchased by Robert Friedland, best known for his management of Galactic Resources during the buoyant 1980s. Friedland purchased more than 2.7 …
Timmins Nickel in mill deal
A short-term contract with Falconbridge for the delivery of nickel ore to Falconbridge’s mill and smelter in Sudbury, Ont., has been entered into by Timmins Nickel (TSE). Timmins Nickel, which mines n…
Exploration planning focus of seminar
A seminar geared to persons with responsibilities for planning decisions related to mineral exploration is set for Dec. 6-12 in Kingston, Ont. “Economic guidelines for mineral exploration” will take p…
Violent Yellowknife strike hurts Royal Oak’s earnings
Management of Royal Oak Mines (TSE) doesn’t appear to be backing away from asserting its “right to manage” at the Giant gold mine outside this northern community, even though the prolonged labor dispu…
Manor trenches Virginia property
Trenching is under way on the Virginia property near Gander, Nfld., reports owner Manor Resources (ASE). Phase one of the program will test zones A-1 and A-2. Soil and till samples collected over Zone…
METAL PRICES — FREE MARKET (August 24, 1992)
London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Aug. 18 Aug. 17 Aug.14 Aug. 13 Aug. 12 Copper 1322-1323 NA 1294-1296 1286-1287 1299-…
Drilling near Granada mine gives KWG good gold values
Drilling in untested territory, partners KWG Resources (ME) and SEG Exploration (ME) have intersected gold values of up to 0.61 oz. per ton on their Granada mine property near Rouyn-Noranda, Que. The …