Rayrock reducing Discovery interest
The interest of gold producer Rayrock Yellowknife Resources (TSE) in oil and gas producer Discovery West Corp. will be reduced to 39.6% (on an undiluted basis) from 47% following completion of an offe…
News
LETTERS TO THE EDITOR — Rio Algom retains St. Philips
Your article “Rio not funding Kemess work, partners consider alternatives” (T.N.M., June 29/92) may create a misleading impression that Rio Algom has no further interest in the South Kemess project. N…
Louvem to move Louvicourt stake into new company
In a bid to pave the way for financing of the Louvicourt Twp. copper-zinc deposit, Toronto-based Noranda (TSE) is spinning out a new company to shareholders of 52% owned Societe Miniere Louvem (TSE). …
LETTERS TO THE EDITOR — Geoscience Canada `educates’ laymen
In the column “Geologists adapt to changing times” (T.N.M., June 15/92), Patrick Whiteway highlighted some of the difficulties The Geological Association of Canada (GAC) currently faces. The column co…
Cassiar deal not sewn up yet
Financing for the purchase of the Cassiar asbestos mine in northern British Columbia is proving elusive for Black Swan Gold Mines (TSE). Black Swan had reached an agreement with Arthur Andersen, the m…
Onitap negotiates reverse takeover with Red Oak
An agreement-in-principle has been reached for a reverse takeover of Onitap Resources (TSE) by private company Red Oak Resources of Calgary, Onitap reports. Onitap plans, subject to shareholder and re…
Dia Met’s diamond pipe may be one of several — (Part three
Kimberlite pipes are uncommon but they rarely occur singly. If one is discovered, there will almost certainly be others in the vicinity. The pipes form patternless clusters seemingly devoid of any geo…
KWG to pay $1.3 million for Thierry copper-nickel mine
An option agreement to acquire a 100% interest in the former Thierry copper-nickel mine and mill complex at Pickle Lake, Ont., has been entered into by KWG Resources (ME) with Etruscan Enterprises (VS…
Cominco defers smelter decision
More tests will be required before management of Cominco (TSE) is able to make a decision whether to modify and restart its QSL lead smelter at Trail, B.C., or convert to a Kivcet plant. The company’s…
$12,000 to survey Lake Superior shore
A $12,000 grant will be given to geophysicists at the University of Toronto to conduct research along the east shore of Lake Superior, says Shelley Martel, Ontario’s mines minister. “The investigation…
Timmins Nickel, Marshall in dispute
A dispute between Timmins Nickel (TSE) and Marshall Minerals (ASE) has closed the Carshaw mill in the Timmins, Ont., area. Timmins Nickel says it received notice July 1 from Marshall terminating the l…
MINER DETAILS — Watching the `new’ Rio unfold
When Rio Algom’s directors meet later this month, the entire spectrum of corporate philosophy will be up for discussion. It will be the first board meeting in 36 years without representation from “Mot…