News in Brief (June 05, 1989)
Ansco Resources (B.C.) has changed its name to Sunstate Resources Ltd. (SUT:VSE) on a 1- new-for-3-old share basis. Transfer agent is Pacific Corporate Services Ltd.
News
Dumagami shareholders urged to reject Agnico-Eagle merger plan
Montreal businessman Jacques Forget says he will ask minority shareholders of Dumagami Mines (TSE) to vote against a merger plan tabled recently by Agnico-Eagle Mines (TSE). Forget, who holds a 16% st…
Toronto Stock Exchange Gold index firms despite falling bullion
The gold price and gold index appear to be diverging. Bullion on the second London fix dipped to $361.80 today whereas the gold and silver index continued to display resilience in light of bullion’s h…
Rea Gold taking traditional route to production
Up until several years ago, the height of ambition for a junior company with a promising property was to strike a joint venture deal with a major mining concern, hopefully with one benign enough to le…
Montreal Exchange Mining index advances
A week of mixed trading didn’t seem to hurt the resource stocks, with the mining and minerals index climbing more than 20 pts. The general market portfolio index, by comparison, managed a 2.9-pt gain….
Bitech starts Betts Cove work program
An exploration crew has been mobilized by Bitech Corp. (ASE) to begin a $350,000 work program on the old Betts Cove mine property in Newfoundland. The Betts Cove property hosts one of the province’s o…
Costs too high for Giant Yellowknife
The main challenge facing Giant Yellowknife Mines (TSE) is reducing operating costs and increasing the profit on each ounce of gold produced, President Adrian Fleming said at the annual meeting. Giant…
Hydra expects cash flow
Hydra Explorations (TSE) is expecting royalty payments of about $1 million per year from its interest in the Colomac gold mine in the Northwest Territories. Owned by Neptune Resources (TSE), the Colom…
Viola MacMillan to donate $1.25 for Pinch collection
One of mining’s best known personalities plans to donate $1.25 million toward the fundraising drive for the William Pinch mineral collection. Viola MacMillan said she took three weeks to make up he…
Positive feasibility study for Atlanta Gold
With a positive feasibility study in hand, Atlanta Gold Corp. (TSE) says it is moving ahead to complete the permitting and project financing for its 100%- owned Atlanta Gold project in Elmore Cty., Id…
INSIDER TRADES (June 05, 1989)
Atlanta Gold — O. Tolpinrud bought 1,400 (Apr) @ $2.65 to hold 144,051. Belmoral — A. Brown sold 24,000 (Apr) @ $1.16-$1.23 to hold 184,278. F. Brown sold 2,000 (Apr) @ $1.23 to hold (amended) 13,79…
Bond restructures Australian assets
A restructuring has been completed involving Bond International Gold’s (TSE) Australian affiliates, North Kalgurli Mines (NKM) and Gold Mines of Kalgoorlie (GMK). Bond recently tendered its 40% holdin…