News in Brief (July 20, 1987)
Geomaque Explorations has completed a geophysical survey on its 29-claim property in Bourlamaque Twp., Que. The work outlined several anomalies which have never been drill tested.
News
Investment Comment Track record makes Minnova a bet
With three new high grade mines coming onstream by 1989, greater cash flow and clean balance sheet, Minnova Inc. looks like a worthwhile bet to a couple of Toronto brokerage houses. In a report titled…
Luxor Explorations private placement
COATS-listed Luxor Explorations has announced a private placement issue for an aggregate consideration of $238,464. Under the terms of the placement, Luxor issued 1,028,858 common shares and a share p…
Drilling under way at Gwillim project
Drilling is under way on Greenstone Resources’ Gwillim gold mine property in the Chibougamau area of Quebec, President Ian Park reports. The drilling is being undertaken by Flanagan McAdam Resources a…
Metal snips (July 20, 1987)
Diamond sales during the first six months of 1987 were 28% above sales for the same period last year, the Central Selling Organization of De Beers Consolidated Mines reports. Sales of rough stones tot…
Hidden Lake
An agreement under which it would acquire a 62.5% controlling interest in Hidden Lake Gold Mines has been reported by Ardic Exploration and Development, a private company based in New York. Ardic hold…
Northern reunion
Former northern Ontario mining community residents now living in western Canada are invited to attend the 3rd annual Northern Ontario Reunion on Sept 26 at the Derrick Golf and Winter Club in Edmonton…
Cogesco receives exploration funds
An agreement has been concluded between Cogesco Mining Resources and Cogesco Partnership 1987 and Co., Ltd. whereby Cogesco has received $1.35 million in return for 1,578,974 common shares of the comp…
Noble Peak adds a drill to Rankin Inlet exploration
After receiving some encouraging exploration results earlier this year, Noble Peak Resources is introducing an expanded drilling program at its Happy Lake project southwest of Rankin Inlet, N.W.T. As …
Wharf Resources buys Homestake’s claims
Following an option agreement with Homestake Mining, of Vancouver, Wharf Resources has purchased Homestake’s 50% interest in 19 claims in South Dakota. Under the agreement, Wharf receives 28 patented …
Sullivan directors reject offer by Ste Genevieve
Directors of Sullivan Mines have come out against a takeover bid by Ste. Genevieve Resources and are proposing a merger with Cambior Inc., which currently has a 31% stake in Sullivan and has expressed…
Redpath publishes mining cost book (July 20, 1987)
Junior mining companies wishing to estimate the preproduction capital costs of a small underground exploration project can do so themselves with the help of a new publication prepared by the experienc…