Correction (February 05, 1990)
Reference (T.N.M., Jan. 22/90) to an exploration project in Grevet Twp. near Matagami, Que., by VSM Exploration (ME) and Serem Quebec included an incorrect tonnage figure. Current reserves stand at 6….
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FINANCING (February 05, 1990)
Covenant Res. — min 500,000 offered @ 45 cents per sh. Auriga Res. — 700,000 offered @ 35 cents per sh. Adonos Res. — 550,000 offered @ 50 cents per sh. Nortran Res. — gross proceeds rec $282,00…
Monique financing (February 05, 1990)
Monique Exploration (ME) has entered into a financing agreement with La Societe en Commandite Monique II worth $250,000, the proceeds to go toward mineral exploration. Monique will issue 250,000 commo…
Gold funds as of Jan 30
MVP BGR Central Capital Net value $12.53 $6.44 $0.44 Price $11.75 $7.00 $0.40 Discount 6.23% 8.7% 9% Value $74,596,963 $108,36…
Stroud to double stake in Hislop Twp. gold bet
Toronto-based Stroud Resources (TSE) is set to double its stake in a Hislop Twp. gold project near Timmins, Ont., by acquiring the 50% interest held by its former partner Chevron Minerals, a unit of C…
Minnesota lowers tax rate for mines
Mining taxes in Minnesota have been lowered by legislators in an attempt to stimulate mineral exploration. Although the state has no base or precious metal mine production, a high tax rate — one of t…
Toronto Stock Exchange Bears rule the market as index continues to
The bear hug squeezing equity markets refused to let go today, Jan. 31, as the composite index slipped another 2.58 points to close at 3,704.42 points. That’s six straight days of losses. Since early …
Redstone hit by high costs, low pries
The future of the Redstone nickel mine, 22 km southeast of Timmins, Ont., has been placed in jeopardy by high operating costs and deteriorating conditio ns in the world nickel market. Less than a year…
Spot prices at a glance (February 05, 1990)
Week’s Price (US) Change Gold* $417.55 +$ 3.80 Silver* $ 5.21 –$ 0.07 Platinum* $510.35 +$10.25 Nickel** $ 2.72 –$ 0.06 Lead** $ 0.32 Co…
Stanleigh still open but Rio closing other Elliot Lake mines
Rio Algom (TSE) will consider selling its Quirke and Panel uranium mines in Elliot Lake, Ont., — scheduled to close in mid-1991 — if suitable offers are made, a company spokesman told The Northern M…
Teck funding gives Lysander cash for copper-gold prospect
Junior Lysander Gold (VSE) is planning to use the proceeds of a private placement by Teck (TSE) for ongoing exploration of the Cat Mountain project where widespread copper-gold mineralization was foun…
Coeur d’Alene profits with low prices
Even with the relatively low price of gold and silver during 1989, Coeur d’Alene Mines (AMEX) maintained a profit for the nine months ended Sept. 31. Net income for the nine months was US$5 million or…