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…
News
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 …
Metal Prices FUTURES PRICES (May 16, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US cents per lb.) May 102.70 101.20 101.90 + 6.00 Jun 98.50 97.00 …
$500 million deal Placer to sell Falco stake
Gold-producer Placer Dome (TSE) wants to divest itself of its almost 25% interest in Falconbridge Ltd. (TSE), shareholders were told at Placer’s annual meeting which took place in Toronto. Placer has …
Editorial Doctors are hard to get
Getting adequate medical services, particularly a doctor in-residence, is just one of the many challenges that face some small mining communities in remoter areas of Canada, especially in the northern…
Skylark finds high grade gold at Finlay River land holdings
The executives at Skylark Resources, (VSE) Vancouver offices say they are encouraged by some high grade gold/silver discoveries at the Toodoggone gold camp in northern British Columbia. The latest dis…