News in Brief (January 18, 1988)
Monte Carlo Gold Mines has announced it will be issuing bonus warrants to common shareholders of record Jan 7. Each bonus warrant will entitle the holder to purchase one additional common share at $3 …
News
Falconbridge issue benefits from higher nickel prices
The volatility of the market seems to have worked in favor of Falconbridge Ltd., which recently completed a share issue worth $142.5 million prior to a drop in the nickel price. Nickel recovered in 19…
Wilco and Minnova Inc pool Shebandowan claims
Wilco Mining of Toronto and Minnova Inc. say they plan to pool properties held by both companies under option agreements with prospectors David Petrunka and Wayne McChristie. Under a joint venture agr…
Coronado drill results
Assay results have been received from the recent drill program on the Mon property of the Coronado Resources-Troymin Resources joint venture in the Northwest Territories. Of the 12 holes put down by C…
FGM to test gold showings at Conquest’s Renabie bet
First General Mine Management & Gold Corp. of Toronto has entered a contract for a minimum of 5,000 ft of diamond drilling on its Renabie, Ont., area property optioned from Conquest Yellowknife Resour…
PDAC convention set for March 6-9
The Prospectors and Developers Association of Canada (pdac) is gearing up for its 56th annual convention March 6-9 at Toronto’s Royal York Hotel. Theme of this year’s meeting is Financing — The Key t…
Sun Valley deal on Arizona play
Sun Valley Gold Mines has concluded an agreement to acquire a 100% interest (subject to a 10% net profits) in 10 mining claims near Wickenburg, Ariz. The claims include the former Rincon Mining proper…
Remote high-grade nickel deposit gets second look
The boom in nickel prices will probably have little effect on development plans for the nickel deposits controlled by New Quebec Raglan Mines, President T. F. Pugsley tells The Northern Miner. Located…
Cathedral bullish on Porcher Island bet
An exploration program at Cathedral Gold Corp.’s Porcher Island property 35 miles southwest of Prince Rupert, B.C., has yielded some encouraging results. Pierre B. Lebel, president, says the recent dr…
New shareholder communication rules
New shareholder communication rules, designed to improve communication between companies and their shareholders, have been approved by the Canadian Securities Administrators. The new rules, which will…
Goldbrae options gold bet in northwestern Manitoba
An option to acquire a 100% interest in a 2-claim unit, 3,000-acre gold prospect in northwestern Manitoba has been obtained by Goldbrae Developments of Richmond, B.C. The company has agreed to spend $…
Placer Dome earns 60% of Melrose property
Placer Dome Inc. has fully exercised its option to earn a 60% working interest in Melrose Resources’ Blackstock Twp., property 30 miles southeast of Timmins, Ont., Melrose announced recently. So far, …