Lyon Lake financing
A financing agreement has been worked out between Lyon Lake Mines and Lyon Lake Partnership (1988) and Co., Ltd. whereby the former will receive $8,285,000 through the issuance of 8,285 units, each un…
News
Books in Review (March 28, 1988)
MINING 1988, A Financial Times International Year Book. Editor, Helen Wilcock. Published by Longman Group UK Ltd., Westgate House, The High, Harlow, Essex CM20 1NE, UK. Price $105(C) ($94.50 on standi…
COATS Trading Features (March 28, 1988)
Tarzan Gold was the volume leader for another week on coats, trading more than 260,000 shares to $1.65. The company has started a major exploration effort on a large tract of land immediately south of…
Onitap gets claim
Onitap Resources has optioned a 37-claim property near Goldboro, N.S. The property covers four old shafts which were used to access several gold veins in slate beds years ago. The property is near the…
No glitter at Glimmer
An 8-hole drill program financed by Canamax Resources on a property held under option from Glimmer Resources, has failed to intersect any significant gold mineralization, Glimmer says. Located in Barn…
Arcadia Bay bet gets more work
About $1.1 million will be spent this year exploring for additional gold reserves at Arcadia Bay, N.W.T. Since gold was discovered there in 1963, work by several companies has brought proven ore reser…
St. Genevieve, Augmitto finish second drilling
A second drilling program of 23 holes representing 16,850 ft was recently completed by St. Genevieve Resources and Augmitto Explorations on the Parbec property, located about two miles west of Malarti…
Pegasus plans fifth gold mine in `88
The growth spurt continues for Pegasus Gold with plans for another new gold mine in 1988. The Spokane-based gold producer had a banner year in 1987 with record production and record earnings. Earnings…
TSE permits discount on private placements of flow-through shares
The Toronto Stock Exchange says it will permit listed companies to issue flow-through shares through a private placement at a discount to the market price of up to 15%. The exchange says the policy ch…
Noranda, Hemlo Gold active at red-hot Mishibishu region
Mishibishu. It’s a strange sounding name but one likely to become increasingly familiar to our readers in the months and years ahead. The recent announcement that the Mishibishu joint venture group (5…
Uranium located at SMDC bet
Uranium mineralization was discovered during drilling at the Key Lake district in northern Saskatchewan where the Saskatchewan Mining Development Corp. is involved with five joint venture partners, an…
USMX gets OK for Nevada mine
USMX Inc., a Denver-based company, says it has been given the green light by the U.S. Bureau of Land Management to proceed with construction on its Green Springs gold project in Nevada. Ground breakin…