Sale of Black Cliff projects approved
The proposed sale of Black Cliff Mines’ (TSE) Squaw Creek and O’Donnel River placer gold properties to Menora Resources (ME) was approved recently by regulatory authorities and shareholders of Menora….
News
Total cancels placement with Plexus
A private placement agreement worth about $18 million between prospective companies, Total Energold (TSE) and Plexus Resources (TSE), has been cancelled. The agreement had called for Total to subscrib…
Exploration started at High Frontier bet
Exploration has begun at a number of Val d’Or, Que., properties optioned recently by Vancouver- based High Frontier Resources (VSE) from Beaufield Resources (TSE). High Frontier has 13 claim groups, o…
Redfern nets $690,000 placement
A previously announced private placement of 200,000 flow-through shares by Redfern Resources (TSE) has been completed. The shares, issued at $3.45 each, netted the company $690,000 that will be used t…
Quebec to study mining fatalities
The Quebec government has announced the formation of a committee to investigate mining accidents in the province. Focusing on the Abitibi or northwest region, the committee will report on the reasons …
LAC cancels expansion plan for Milton quarry
LAC Minerals (TSE) has decided not to proceed with expansion of its limestone aggregates operation at Milton, Ont. The quarry has been a source of revenue for nearly 30 years, but demand from the Toro…
Homestake tops million ounces
Gold producer Homestake Mining (NYSE) exceeded the million- ounce mark in 1989 for the first time in its 114-year history. The company was also able to lower its cash production costs but it also repo…
Metal Prices (April 23, 1990)
FREE MARKET London Metal Exchange Spot closing prices in $US per tonne, except copper and lead (pounds sterling per tonne) Date Apr. 17 Apr. 16 Apr. 13 Apr. 12 Apr. 11 Copper 1643-1648 — HOLIDAY — 1…
LAC, Echo Bay added to main ME index
The Montreal Exchange currently includes six mining and metals firms among the 25 companies that make up its market portfolio or general market index. Newly added are LAC Minerals and Echo Bay Mines. …
Noranda, Major General set reserve figure
Recent drilling results from the Rendell-Jackman gold project in the Springdale area of Newfoundland have allowed equal partners Major General Resources (VSE) and Noranda Exploration (TSE) to establis…
Bay, St. Genevieve in financing deal
A financing agreement has been entered into by Bay Resources and Services (ASE) with St. Genevieve Resources (TSE) whereby St. Genevieve will spend $150,000 by March 1, 1991, on Bay exploration proper…
BP reports base metal find on property in Newfoundland
A new base metal discovery has been reported by BP Canada (TSE) on the company’s Daniel’s Pond prospect, about 20 km south of Buchans, Nfld. Although still at an early stage of exploration, the new ma…