Queenstake makes new acquisition
Further to the company’s move away from placer mining, Queenstake Resources (TSE) has acquired a number of claim blocks in Pershing Cty., Nev., which include the Snowsquall and Doc properties. As a re…
News
Magnesium plants in startup phase
Two new Canadian magnesium plants are in the startup phase. Norsk Hydro began a small-scale test operation toward the end of last year at its Becancour, Que., facility; full capacity of 40,000 tons pe…
Belmoral seeking rescuer after $34.5 million loss
Efforts to rescue Belmoral Mines (TSE) from its financial troubles were continuing as the company revealed recently it had lost $34.5 million (91 cents per share) during the year ended Dec. 31. While …
Holt-McDermott first min in Barrick group to unionize
Representatives of about 177 hourly wage employees at American Barrick Resources’ (TSE) Holt-McDermott gold mine near Kirkland Lake, Ont., will meet this month to negotiate their first contract as a u…
Toronto Stock Exchange Gold recovers slightly, but investors still
An already nervous investment community was dealt a severe blow for the week ended March 27 when the gold price fell US$29 per oz. to a low of $362. While the yellow metal rebounded to US$372 on the s…
Muscocho mines deal fair to shareholders, firm says
An independent valuation and fairness opinion of a deal involving three Muscocho group companies, two new producing gold mines in northern Ontario and Echo Bay Mines (TSE) concludes the proposed trans…
Westray awaits needed funding
A Wall Street bankruptcy could slow financing for a Nova Scotia coal project. Drexel Burnham Lambert, a New York brokerage was in the process of floating a “junk bond” issue for Curragh Resources of T…
Flow-through shares should be treated like other capital
If you attended the Prospectors and Developers Association of Canada’s annual convention in Toronto recently, no doubt you will have noticed that many of the 3,000 or so delegates were wearing a badge…
St. Genevieve, Bay drilling extends zone at Fourax
St. Genevieve Resources (TSE) and 81% owned subsidiary Bay Resources & Services (ASE) recently received some encouraging results from winter drilling at the Fourax gold property in Malartic, Que. Situ…
Noront trims down Grubline holdings
The 6,800-claim Grubline joint venture of Noront Resources (VSE) and Noranda (TSE) in central Newfoundland is being reduced in size by nearly 50% as the partners narrow their focus to concentrate on t…
Abermin bankruptcy unavoidable
Cash-strapped Abermin (TSE) recently announced bankruptcy under provisions of the Bankruptcy Act with Deloitte & Touche appointed as trustees. Company management had attempted for some time to refinan…
THE MOVE TO DECENTRALIZE; Ontario’s southern explorationists are
In July, 1986, Ontario Premier David Peterson announced that the Toronto offices of the Ministry of Northern Development and Mines, with the Ontario Geological Survey (OGS) in tow, was to be boxed and…