Ego drill results spark trading spree
A recent trading spree involving the shares of Ego Resources (TSE) has been attributed by the company to drill results released this week from its BB Lake zin c property in the Northwest Territories….
News
North American gold companies to become million-oz producers
Two North American mining companies, and possibly a third, are set to enter the million-ounce club this year. Placer Dome (TSE), which traces its current size back to a 1987 amalgamation, will turn ou…
Glencairn gets funds for diamond property
A $1.32-million(US) financing agreement to develop a diamond property has been finalized between Glencairn Explorations (ASE) and Banco Multiplic SA, a Brazilian affiliate of Lloyds Bank. About $700…
Amax bows out of takeover fight for Falconbridge
Unless a third party comes forward or bidder Amax Inc. (NYSE) has a change of heart, it appears Noranda Inc. (TSE) and Trelleborg AB of Sweden will gain contr ol of nickel producer Falconbridge Ltd. (…
Granges boosts gold production in first half
Consolidated gold production for Granges Inc. (TSE) rose to 47,351 oz in the first half of 1989 from 25,687 oz in the comparable pe riod last year. The company reported consolidated gold production of…
The life of the Cassiar Asbestos mine has been
extended an extra three years, thanks to the discovery of more prelimin ary reserves this summer. “It was 10 years. Now it’s 13,” underground mine superintendent Gerald Verret says of the mine life. “…
News in Brief (September 11, 1989)
Blackdome Mining has merged into MinVen Gold Corp. (MVG: TSE, VSE) each on a share-for- share basis. Blackdome shareholders have received payment of a special dividend of 42.5 cents per share.
Nerco acquires Texasgulf Minerals
Although financial details of the transaction weren’t disclosed, the minerals subsidiary of Nerco Inc. (NYSE) has acquired all the outstanding co mmon stock of Colorado-based Texasgulf Minerals and Me…
Scot, Beauchamps deal
Beauchamps Exploration (VSE) has granted an option to Ascot Resources (VSE) which gives Ascot the right to earn a 50% interest in the company’s 6,000-acre pro perty in the Stikine area of northwestern…
Minnesota mineral sale set for October
A book describing the available mineral claims in Minnesota will soon be available in preparation for that state’s 1989 metallic minerals lease sale. The Mining Unit Book can be pre- ordered for $25(…
Selbaie zinc-copper
A 35% interest in the Selbaie zinc-copper mine in Quebec has been purchased by Billiton Metals Canada for an undisclosed sum. The interest was sold by Esso Re sources Canada as part of an effort to …
Mining Corp. closing doors
Citing a lack of opportunities in the mining construction business, Mining Corp. of Canada says it will wind up its business activities by the end of 1989. The wholly-owned subsidiary of Noranda Mine…