FINANCING (December 11, 1989)
VANCOUVER Vista Res Co — 700,000 offered @ 35 cents per sh. Desert Gold — 600,000 offered @ 45 cents per sh. Mercantile Gold — opt exerc on 122,400 @ 55 cents per sh. Foresthill Res — 500,000 o…
News
BMR Gold drilling California property
A second-phase drilling program has been started by BMR Gold (ASE) to further delineate gold zones on its America Mine property held jointly with Fisher-Watt Gold in California. The 2,000-acre propert…
North American Metals finds financing
In order to cover further budget overruns at the 50% owned Golden Bear mine, North American Metals (VSE) has entered a financing agreement with Homestake Mining (NYSE), its principal shareholder. The …
Perrex amalgamation with private company fails to materialize
Dennis Sheehan and Robert Valliant, two former vice-presidents of exploration for LAC Minerals, have formed a private company to conduct mineral exploration. The two geologists had previously announce…
Tundra, Placer holes
A drill program by partners Tundra Gold Mines (VSE) and Placer Dome (TSE) has intersected narrow intersections of gold-bearing material along the MP zone on the McKenzie property. Near Val d’Or, Que.,…
Northgate earnings up compared with ’88
Toronto-based Northgate Exploration (TSE) has reported unaudited net income of $8.5 million or 35 cents per share for the nine months ended Sept 30, compared with $2.2 million or 10 cents per share …
Sikaman project under construction
Construction is under way at the Bogosu gold project in Ghana, West Africa, Sikaman Gold Resources (TSE) reports. The mine, with open pit reserves (proven and probable) of about 13.3 million tons grad…
Alberta Stock Exchange Montclerg shoots up
The recent gains made by Montclerg Resources seem to reflect investors’ excitement over the company’s acquisition of the former Temagami Gold Mines property in Delhi Twp., near Sudbury, Ont. While onl…
Managing Canada’s Mines Projects such as Polaris assert Canada’s
Cominco’s Polaris operation on Little Cornwallis Island, 75 miles from the magnetic north pole, is the world’s most northerly base metal mine. Manager A.J. Keen says it has proven that industrial deve…
Asarco earnings rise
Third-quarter net earnings of $52.7 million(US) were reported by Asarco Inc. (NYSE), a 14% increase over restated earnings of $46.2 million for the same period in 1988. Earnings per share amounted to …
Hecla will spend $6.6 million to boost Republic gold output
A major $6.6- million development program is slated to begin early next year at the Republic gold mine property in northeastern Washington State. For the past five years the high- grade mining operati…
Inco to develop new mine in Sudbury at cost of $179 million
A new $179-million nickel mine is expected to begin production by 1993, Inco Ltd. (TSE) says. Construction of the facility, known as McCreedy East in the Levack area of the Sudbury Basin in Ontario, w…