Ontario’s new Mining Act takes effect June 3
Ontario’s new mining act will come into force on June 3, says Mines Minister Gilles Pouliot. The new act will contain revised regulations on claim staking and recording, assessment requirements and mi…
News
Thunderwood sends 2 rigs to Scott Lake
Partners Thunderwood Resources (TSE) and Greenstone Resources (TSE) will resume the search for an economic massive sulphide deposit on their Scott Lake joint venture when drilling begins at the Chibou…
Rio taking control of South Kemess project
An agreement has been reached between St. Philips Resources (VSE) and Rio Algom (TSE). It gives Rio the option to purchase up to 3.8 million treasury shares of St. Philips plus 1.2 million shares (exi…
NEWS IN BRIEF United Coin Mines
Toronto-based United Coin Mines (TSE) recently borrowed $3.2 million from investment banker DCC Equities for a term of one year. The loan bears interest at prime plus 2%. Incidental to the loan, DCC r…
Galico options Cominco claims
A program of diamond drilling and geophysical surveying is being planned by Galico Resources (VSE) for the Metla property 15 miles northwest of the Golden Bear gold mine in northwestern British Columb…
Toronto Stock Exchange Inco reaches high as investors bet on
The upward trend in share prices continued during the week ended April 2 as interest rates dropped to 10.75% and investors placed their bets on an early end to the economic recession. While Januarys 1…
LETTERS TO THE EDITOR Concerned about Bill of Rights
Our association certainly agrees that the environment is important. Our members and their families are also part of the environment. In fact, our members are much more aware of the environment than th…
Copper Council holds seminar
The American Copper Council (ACC), based in New York City, is offering a foreign trade seminar for executives involved with the copper industry at its June meeting in Quebec City. The 2-day seminar wi…
Rouyn Mining’s loss due to reducing Francoeur’s value
A writeoff of $4.3 million was declared by Rouyn Mining Resources (TSE), which for 1990 reported a loss of more than $4.9 million (42 cents per share). The company said the writeoff reduces the book v…
Copper-zinc-gold values keep Rock & Roll hopping
Partners Thios Resources (VSE) and Eurus Resource (VSE) are reporting the discovery of a new massive sulphide zone on their Rock & Roll property in the Iskut River region of northern British Columbia….
Unlisted Trading High grade for Costigan
More high-grade results from the Sewell Brook property in New Brunswick have had little effect on the price of Costigan Gold, which was unchanged at 45 cents for the week ended April 2. Although inter…
Vancouver Stock Exchange Thios, Eurus intersect new zone
The week ended April 2 proved relatively quiet with the VSE composite index adding about 10 points to finish at the 580 level. The resource index slipped 3.4 points to close at 574.24. Gold remained l…