News

Noranda drilling Glimmer property (August 28, 1989)

Glimmer Resources (VSE) reports that drilling is currently under way on its Hislop Twp. gold claims under option to Noranda Exploration east of Timmins, Ont. The drilling is designed to provide a geol…


Crown Resources gains ground at Buckhorn

Denver-based Crown Resources (VSE) has made several recent property acquisitions near its Buckhorn Mountain project and Strawberry Lake property, four miles west of Buckhorn, in Okanogan Cty., Wash. W…



HSK plans to earn 50% in Strike bet

Toronto-based HSK Minerals (TSE) has signed a letter of intent to earn a 50% stake in Strike Minerals’ (COATS) Baden Twp. gold property near Matachewan, Ont. Located about 16 km north of Matachewan, t…


News in Brief (August 28, 1989)

Blackdome Mining (TSE) has declared a special dividend of 42.5 cents on its common shares payable Aug 21 to shareholders of record Aug 4. The dividend is subject to an arrangement whereby the company …


COATS (over-the-counter) McNickel leads

Leading the week’s trading was McNickel Inc. with more than 200,000 shares changing hands. McNickel traded as high as $3.00 before closing at $2.65, off 25 cents from the week before. Three drills ar…


Corona, Prime swapping shares

Toronto-based Corona Corp. (TSE) and Murray Pezim’s west- coast Prime Resources (VSE) have agreed to swap shares. Prime will sell Corona 10 million Prime shares in exchange for two million A shares of…


PRODUCER PRICES Metal Prices (August 28, 1989)

ALUMINUM: MW U.S. Market US81.00 cents – 82.00 cents per lb. (Aug 17, 1989). ANTIMONY: New York dealer US90 cents -95 cents per lb. (Aug 10, 1989). BISMUTH: New York dealer $4.95-$5.10(US) per lb. (A…


Minago nickel project encourages Black Hawk

After acquiring 100% control of the Minago nickel deposit in northern Manitoba, Black Hawk Mining (TSE) is moving aggressively to develop the property. The Minago deposit, situated 140 miles south of …


U.S. gold output in 1989 to rise to 7.4 million oz

Primary, non-placer gold production in the United States in 1989 will total an estimated 7.4 million oz, up 1.7 million oz from 1988, research company Metals Economics Group of Halifax, N.S., reports….


FINANCING (August 28, 1989)

ONTARIO Canamax Res — final rec iss offer 850,000 @ $1.50 per sh to net $1,275,000 Firesand Res — final rec iss offer 2,400,000 @ 40 cents per sh to net $600,000 VANCOUVER Ravenroc — 1,500,000 off…


Galactic turns tide on losses

With the Ridgeway mine in South Carolina continuing to exceed expectations, Galactic Resources (TSE) is reporting record gold production and record income from operation for its 1989 first half. Gold …


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