Brosnor meeting
Shareholders of Brosnor Exploration (ME) will vote on a proposed corporate consolidation at a Sept. 29 meeting. Proposed is a consolidation based on seven old shares for one new share. Also proposed i…
News
Ego financing
Toronto-based Ego Resources (TSE) has arranged a private placement of 1.25 million units at 40 cents per unit with Nanisivik Mines, a unit of Conwest Exploration (TSE). The units consist of a mixture …
Falconbridge spending $10 m this summer at Ungava project
Falconbridge Ltd. expects to complete 75,000 ft. of drilling on its remote Ungava, Que., nickel deposit before freeze-up occurs at the remote location later this month. While a Falconbridge official s…
Positive results from Tulsequah Chief
Impressive assay results from the first hole drilled this season at the Tulsequah Chief polymetallic project in northwestern British Columbia have prompted partners Cominco (TSE) and Redfern Resources…
U.S. REPORT Oracle Ridge coming along
Production is expected to begin in the third quarter of 1990 at the Oracle Ridge project being developed by South Atlantic Ventures (VSE). The company reports that the mining contractor is proceeding …
Jury out on discovery in Galore Creek camp
Reports of a significant new discovery in the rugged and remote Galore Creek region of northwestern British Columbia have generated another flurry of speculative trading on the Vancouver Stock Exchang…
Gold price prompts Cambior to reopen Valdez Creek mine
The recent increase in the gold price has prompted Cambior (TSE) and Camindex Resources to reopen their Valdez Creek placer mine in Alaska. Cambior says that based on the recent strength in the gold p…
Trimin agrees to sell stake in Hanson Lake to Billiton
Vancouver-based Trimin Resources (TSE) has agreed to sell its 32.9% stake in the Hanson Lake polymetallic deposit to Shell Group affiliate Billiton Resources Canada Inc. for $17.5 million cash. Situat…
Toronto Stock Exchange Middle East crisis takes toll as investors
The Persian Gulf crisis continued to take its toll on the stock market during the week ended Aug. 21, as nervous investors struggled to protect themselves from unfolding developments. Today, Aug. 22, …
Colchis gears up for drilling at La Ronge
Joint venture partners Colchis Resources (VSE) and Pine Channel Gold (VSE) are completing preparations for a 6,500-ft. drilling program on their single claim in the La Ronge Belt of Saskatchewan. The …
U.S. REPORT USMX income takes a dip
Net income for the second quarter ended June 30, for USMX (NASDAQ) was reported as US$176,000 or 1.3 cents per share on revenues of US$1.9 million. This compares to net earnings of US$609,000 or 4.4 c…
Colomac, Choquelimpie cost affects Northgate earnings
The high cost of reorganizing its corporate structure and bringing the Colomac gold project into production was reflected recently in Northgate Exploration’s second- quarter results. The Toronto-based…