NEWS IN BRIEF Placer ups stake in VSM
Placer Dome (TSE) has purchased another 1.4 million common shares of VSM Exploration (TSE) at a price of $1.07 per share. The acquisition increases Placer Dome’s interest in the junior from 50.7% to 5…
News
Alberta Stock Exchange New plays liven market
Investors greeted summer exploration plans with enthusiasm during the week ended June 18, driving up the share prices of Cochise Resources, Peter Island Resources and Northern Abitibi Mining. Gaining …
U.S. REPORT Annabell gets good values over widths of up to 80 ft.
Drilling on the Bunce gold property in Pershing Cty., Nev., continues to return good gold values over widths of up to 80 ft. The drilling program is part of an ongoing $800,000 earn-in program. Annab…
OBITUARY Peter Edwin Graham
Peter Edwin Graham, who in 1975 formed Graham Mining Ltd. with his father and built it into one of Ontario’s major mine contracting firms, died in Thunder Bay, Ont., June 11 of a massive brain hemorrh…
Toronto Stock Exchange Equinox, LAC advance on Rosebud intersection
The fact that financier Sir James Goldsmith has parked 28 million shares of Newmont Mining in a Vancouver-listed investment firm known as General Oriental Investments finally came to light during the …
NEWS IN BRIEF Inspiration accepts Minorco offer
Inspiration Resources (TSE) has accepted Minorco’s recent $100-million offer to purchase from Inspiration all of the shares of Hudson Bay Mining & Smelting (TSE). If the deal goes through, it will ena…
Mining begins at Mystic
Profits of US$6 million are expected to be realized by Fischer-Watt Gold (NASDAQ) and a joint venture partner from their recently opened Mystic gold mine north of Phoenix, Ariz. During the next nine …
Drill results from Myra Falls
Ongoing drilling by Westmin Resources (TSE) at its Myra Falls mine property returned two relatively narrow intersections of massive sulphide mineralization. The company is testing a new high-grade ma…
Study suggests overhauling Yukon mining law
Federal Northern Affairs Minister Tom Siddon has accepted a broadly based committee’s suggestions for overhauling legislation governing the Yukon mining industry. But Siddon has given the Yukon Minin…
U.S. REPORT Pegasus to drill Washington bet
Precious metal producer Pegasus Gold (TSE) will complete several thousand feet of drilling on Eagle Lake Explorations’ (ASE) Kelly Hill gold skarn property in Washington, following a joint venture agr…
Name change for La Sarre
Shareholders of Societe d’Exploration Miniere La Sarre (ME) recently voted in favor of a share consolidation and a name change. The company said its shares will be consolidated on the basis of one new…
METAL PRICES PRODUCER PRICES (June 24, 1991)
ALUMINUM: MW U.S. Market US57.50-58.50 cents per lb. (May 30, 1991). ANTIMONY: New York dealer US84-85 cents per lb. (Mar. 14, 1991). BISMUTH: New York dealer US$2.90-3.05 per lb. (May 23, 1991). CAD…