Editorial Determination value
Some say it is impossible to determine the value of a mineral prospect until there is a verifiable measure of mineable ore reserves. Like a car dealer tallying up the value of his business without tak…
News
Durham antimony closing in January
Low antimony prices have forced Dominion Explorers (TSE) to close its Durham antimony mine in New Brunswick. Employee layoff notices have been issued for a planned shutdown by the end of January, 1990…
Meridian takes option on property adjacent to Beartrack gold
American Gold Resources, a private Houston-based company, has signed a joint venture agreement with Meridian Gold which gives Meridian the right to earn an interest in American Gold’s Arnett Creek pro…
McAvity still bullish on gold as Biron Bay connection shows (December 18, 1989)
Gold guru turned mine financier Ian McAvity is hoping that the recent upswing in the price of gold will revive his reputation as the man with the Midas touch. As president of Toronto-based mining fina…
Chesbar drilling in Chester Twp
A 3,500-ft drilling program has started on Chesbar Resources’ (TSE) Chester Twp. gold property in Ontario’s Swayze greenstone belt. Murgold Resources (TSE) has a 40% interest in the property, 70 miles…
New DRX chairman bids to cash in on mineral assets
As the new chairman of New York-based DRX Inc., Howard Butcher says he will attempt to refocus the company toward the acquisition and development of resource properties. Butcher was recently appointed…
Cassiar agrees to develop Quebec graphite deposit
The agreement is still subject to a due diligence review and shareholder approval, but Cassiar Mining (TSE) has set the stage for yet another diversification away from asbestos. This time the Vancouve…
Canada’s oldest Law firms
Two of Canada’s oldest law firms with strong ties to the mining industry are merging. Day, Wilson, Campbell has signed a merger agreement with Holden, Murdoch and Finlay to create Holden Day Wilson, e…
Canyon Resources expansion hinges on Addwest acquisition
Although Canyon Resources (NASDAQ) is best known for its minor interest in the advanced Beartrack deposit in Idaho, the Colorado-based company also has ambitious plans to become a gold producer in exc…
Bank terminates gold loan on ERG’s tailings project
The struggling tailings treatment project of ERG Resources (TSE) at Timmins, Ont., is in financial hot water. An Australian bank has terminated the company’s gold loan agreement. ERG, 61.6% owned by P…
Golden Crescent drilling on two Placer Dome bets
Toronto-based Golden Crescent Resources (ASE) says an 8,400-ft drill program has started on the Detour Lake joint venture property, optioned from Placer Dome (TSE) earlier this year. The property, kno…
Letters to the Editor Which way to Mecca?
In the first half of 1981 in West Africa, as part of a Canadian prospecting team, my duties took me far afield from our base camp. After the usual meeting with the local headman & council, and since m…