General News & Comment (May 16, 1988)
The Nugget mine near Salmo, B.C., which boasts an impressive record of no accidents and no time lost, was awarded the 1987 Safety Award by the West Kootenay Mine and Industrial Association. Ralph McGi…
News
Pezim group to share in Opapimiskan Lake project
Vanvouver stock promoter Murray Pezim is spending $2.5 million to earn a slice of one of the most promising exploration properties in the Pickle Lake area of northwestern Ontario. Through Prime Capita…
Montreal Exchange: Mazarin-Cogema deal
Quieter times seem to have settled into the various stock markets and the Montreal Exchange is no exception. Trading continues mixed. During the past week, both the market portfolio and mining and min…
Newmont to speed up search
The search for deep sulphide deposits at Newmont Gold’s Deep Post prospect on the Carlin gold trend near Elko, Nev., will speed up this spring, the company said recently. In a bid to pull more record-…
INSIDER TRADES (May 16, 1988)
Broulan — H. Grightmire bought 20,000 to hold 67,000. Chelsea Res. — Northgate Expl bought 200,000 to hold 1,300,000. Luxmar — R. Goyette sold 250,000 to hold nil. Northfield — M. Elder sold 10,00…
Kerr sells stake in Golden Shield
With the sale of a major interest in Golden Shield Resources (TSE), Kerr Addison Mines (TSE) has ended its association with the gold mine in Virginiatown, Ont., on which the company was built. Last ye…
Kimex Res. raising exploration funds
An offering to raise $2.4 million in flow-through funding is being made by Kimex Resources (ME) for exploration work. The company, which has interests in 11 properties (eight are wholly-owned), plans …
Tax Angles Flow-through was in trouble
The Tax Reform proposals, when taken as a package, would have dealt a crippling blow to flow-through financing for junior mining companies: 1. The reduction in marginal tax rates would make any tax sh…
Investment comment Comstock is key to Dragoon success
At a time when takeover rumors and lawsuits have kept the major gold and metal producers in the headlines, it is almost refreshing to read about the prospects for one of the minnows of the mining worl…
Reaction mainly favorable to flow- through successor
Reaction to the federal government’s new resource exploration incentive, or grant scheme which will replace flow-through funding runs from “cautious optimism” to positive, The Northern Miner found in …
News in Brief (May 16, 1988)
Lenora Explorations (TSE) and Mary Ellen Resources (VSE) have entered into preliminary discussions regarding the possible merger of the two, the boards of directors of the companies have announced.
X-Cal pulls good gold assays at Snowbird’s new North zone
Some encouraging drill results were released recently from X-Cal Resources’ (TSE) Snowbird gold property near Fort St. James, B.C. The Toronto company is currently drilling the new “North Zone” which …