Noranda buys 11.7% stake in Falconbridge
After being outfoxed in its bid to buy a control block of Falconbridge Ltd. (TSE) shares from Placer- Dome Inc. (TSE), Noranda Inc. (TSE) has quietly gone to the open market and emerged as Falconbridg…
News
Strike looks certain at Falconbridge Ltd.
About 1,750 hourly wage employees at Falconbridge Ltd.’s Sudbury, Ont., operations appear set to strike when their present contract expires on Aug 21. “Things don’t look hopeful because there are so m…
MacDonald Mines
A group of shareholders of MacDonald Mines (COATS) have called a special shareholders meeting to elect a new board of directors. The group says that the previous board resigned at the beginning of the…
Falconbridge holds 92% of McIntyre Mn.
Toronto-based Falconbridge Ltd. (TSE), completed the acquisition of 12.5 million Falconbridge common shares and 750,000 common share purchase warrants from Placer Dome Inc. (TSE), the company said rec…
Ronrico placement to finance Simkar gold exploration
Ronrico Explorations (VSE) of Toronto has announced a private placement to finance exploration at the company’s Simkar project at Val d’Or, Que. After spending $7 million, Ronrico holds a 50% interest…
News in Brief (August 22, 1988)
Robex Resources (ME) has signed an agreement, in principle, with Maufort Resources (ME) which allows Robex to buy back up to 13% of its capital share and up to 21% of the capital share of its sister c…
FUTURES PRICES (August 22, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) Aug 93.40 93.40 93.45 — 0.55 Sep 94.95 92.30 …
Minnesota mineral lease sale
Minnesota’s department of Natural Resources is in the final stages of assembling the list of lands and mineral rights that will be offered at the 1988 state metallic minerals lease sale. The date of t…
Corona Operator of Phase II Program on Brett Property
A Phase II exploration program operated by Corona Corporation (TSE) is now underway on the Brett property west of Vernon, B.C. The company has earned a 51% interest in the project from Huntington Reso…
People (August 22, 1988)
Golden North Resources — John S. Godfrey appointed chairman of the board; Paul F. Saxton, president; Anthony Tam, treasurer; Eunice E. Davies, assistant secretary.
Omni’s Mt. Skukum soon to begin production
Most people are surprised to learn that hardrock mining is a recent addition to the Yukon’s gold mining history. Indeed, names like Mt Skukum and Ketza River are all part of the new “hardrock generat…
Queenstake’s placer mine big business in Atlin
In small communities like Atlin where placer mining is the major industry, a code of honour exists among locals that is rarely broken. Stealing from your employer is taboo and those that do are ostrac…