NEWS IN BRIEF Drill turning on Isle Dieu claims
Partners Northern Abitibi Mining (ASE) and Hixon Gold Resources (VSE) have started drilling on the Isle Dieu property, about 9.3 miles from the Mattagami Lake mill in northern Quebec. The first phase …
News
NEWS IN BRIEF Australia bans Coronation Hill project
The Australian government has banned development of the Coronation Hill gold project in northern Australia on the basis that it is sacred ground to the traditional aboriginal owners. Work on the proj…
NEWS IN BRIEF Pioneer postpones restructuring vote
A vote on a number of special resolutions relating to the restructuring of Pioneer Metals (TSE) will be postponed until the company can come to an agreement with Chase Manhattan Bank, its major lender…
Ontario Hydro pays premium so Rio mine can remain open
Some of the uncertainty felt by 575 employees at Rio Algom’s (TSE) Stanleigh uranium mine at Elliot Lake, Ont., was removed recently when the company agreed to amend its long-term supply contracts wit…
LETTERS TO THE EDITOR Diagnosis of exploration’s malaise
The level of mineral exploration in Canada has fallen dramatically during the past 18 months. The principal causes are: –The deteriorating state of the equity markets, particularly for junior resourc…
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…
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 …