Nerco takes position in Black Swan Gold
A major U.S. mining concern has taken a significant equity position in Black Swan Gold Mines (VSE), one that might well be increased at a later date. Nerco Minerals, a wholly-owned subsidiary of Ne…
News
High grade at High River
Drilling by Inco Gold, a wholly- owned affilate of Inco Ltd. (TSE) has yielded one of the best intersections from the former producing Nor-Acme gold mine in Manitoba. Drilled from the 2650-level of th…
News in Brief (June 12, 1989)
Nickling Resources has changed its name to Florin Resources Inc. (FLN:VSE) on a 1-new-for-3-old share basis. Transfer agent is Central Guaranty Trust Company.
Minnova resumes drilling at Chu Chua
As part of a regional effort to secure additional feed for its 70%-owned Samatosum mill, Minnova Inc. (TSE) has resumed drilling on the Chu Chua volcanogenic massive sulphide deposit north of Kamloops…
Viceroy delays frustrating (June 12, 1989)
It’s been a long haul obtaining permits for Viceroy Resource Corp.’s (TSE) Castle Mountain project which was supposed to be in production over a year ago. California isn’t the easiest place to permit …
Spot prices at a glance (June 12, 1989)
Week’s Price (US) Change Gold* $375.50 $12.00 Silver* $ 5.40 +$ 0.18 Platinum* $507.75 +$ 6.50 Nickel** $ 5.86 +$ 0.01 Lead** $ 0.32 +$ 0…
Placer Dome options massive sulphide bet
Major mining company Placer Dome Inc. (TSE) has optioned a polymetallic massive sulphide prospect adjacent to tidewater near Juneau, Alaska. The Dream project is located within the same rock package a…
Alberta Stock Exchange Marshall moves on bid
A 10 cents increase in the value of Marshall Minerals shares indicates that a second bidder has entered into negotiations to take ore from Marshall’s Restigouche base metal property in New Brunswick. …
Radisson arranging mine financing
A credit facility worth up to $6 million has been negotiated by Radisson Mining Resources (ME) to bring the Duquesne gold project, 32 miles north of Rouyn- Noranda, Que., into production. The credit f…
Rio averts strike at tin mine
Mine workers at Rio Algom’s tin mine in Nova Scotia have voted 90% in favor of accepting a 2-year contract. The agreement, the first between mine management and the United Autoworkers of America, give…
Metal Prices PRODUCER PRICES (June 12, 1989)
ALUMINUM: MW U.S. Market US93.00 cents – 97.00 cents per lb. (June 1, 1989). ANTIMONY: New York dealer US95 cents -99 cents per lb. (Apr 27, 1989). BISMUTH: New York dealer $6.20-$6.35(US) per lb (Ju…
Production begins at Cruse/Belmont
A small underground gold mining operation near Helena, Mont., is expected to generate cash flow for equal partners, Cusac Industries (VSE) and Gulf Titanium (VSE). The associated companies recently be…