New offering planned by Barrick
A public offering worth $113 million is planned by American Barrick Resources (TSE). The offering of four million common shares was announced on a “bought basis” at $28.25 per share. The shares will b…
News
FINANCINGS (November 18, 1991)
Arista Resources Inc – 650,000 shs offered @ 36 cents per sh. Prepared by Wood Gundy Inc.
GOLD FUNDS (November 18, 1991)
BGR Central Net Value $8.16 $4.90 Price $7.38 $4.400 Discount 9.63% 10.2% Value $48,588,838 $74,026,920…
Low costs at Golden Giant
The low-cost Golden Giant mine of Hemlo Gold Mines (TSE) on the north shore of Lake Superior continues to perform well. The company reports third-quarter gold output of 118,110 oz. (about the same as …
U.S. REPORT (November 18, 1991)
After 22 years of operation, Phelps Dodge (NYSE) will be closing its Tyrone mine concentrator in New Mexico. Sulphide ore reserves are expected to be exhausted by the end of 1991 but mining of low-gra…
Remedial work
A $30,000 provincial grant has been awarded to the Township of Coleman in northern Ontario to undertake remedial work on the former Silver Queen mine site, the Ontario Ministry of Northern Development…
CIM symposium
The Seventh Mineral Economics Symposium will take place Jan. 16 in Toronto’s Sheraton Centre. Topic is “Back to basics: managing the risks to reap the rewards.” The symposium is held by Toronto’s Mine…
Grants benefit Kirkland Lake area
The northern Ontario community of Kirkland Lake has been the most popular area in the province this year for OPAP and OMIP grants, the Ontario Ministry of Northern Development and Mines reports. Grant…
LAC ups 9-month output, earnings
Higher production from the Bousquet No. 2 mine near Malartic, Que., boosted LAC Minerals’ (TSE) total gold production and earnings for the first nine months of the year. LAC reports a net income of US…
NEWS IN BRIEF (November 18, 1991)
Pacific Summa Capital Corp. (PSU:VSE) has changed its name to Pacific Summa Environmental Corp. (PSU:VSE) with a consolidation of capital on a 1-new-for-1-old-share basis. The transfer agent is Montre…
Udd receives engineering medal
An engineering medal was recently awarded to John Udd, director of mining research laboratories for CANMET (Canada Centre for Mineral and Energy Technology) in Ottawa, for his efforts in uniting Canad…
Inco retirement plan proves popular
An early retirement program, designed to reduce the workforce at Inco Ltd.’s (TSE) Sudbury, Ont., nickel operations and cut costs, has attracted an overwhelming response from eligible employees. Accor…