NEWS ROUNDUP — Echo Bay gets poison pill
Shareholders of Echo Bay Mines (TSE) voted 75.6% in favor of a rights plan. The shareholders rights protection plan, also known as a “poison pill,” is designed to thwart a hostile takeover by increasi…
News
Production woes at Colomac
Production problems at the Colomac mine north of Yellowknife, N.W.T., have prompted owner Royal Oak Mines (TSE) to downgrade its overall 1994 production forecast for the four gold mines that it owns. …
Glamis eyes Golden Queen
Producer Glamis Gold (TSE) has agreed to merge with junior Golden Queen Mining (TSE) by issuing one share for every five shares of Golden Queen held. The merger, subject to shareholder and regulatory …
Pacific Comox teams with Anglo
A subsidiary of Anglo American has acquired right of first refusal to joint-venture new projects identified by Pacific Comox Resources (VSE) within a 16,000-sq.-km area of southwestern Ghana. Anglo wi…
Inco options two properties in Casa Berardi camp
An option to explore two of Glen Auden Resources’ (CDN) properties in northwestern Quebec has been acquired by Inco (TSE). One property consists of 24 claims in Casa Berardi Twp., while the other comp…
COMMENTARY — Cameco recycling; coal clean-up
Construction is under way on a recycling plant at uranium producer Cameco’s Blind River, Ont., refinery. The $10-million plant will take liquid byproduct from the refining process and convert it into …
Barrick options Michaud-Nufort
Mining giant American Barrick Resources (TSE) can earn a 60% interest in the Michaud-Nufort property in northeastern Ontario’s Michaud Twp. The company may earn this interest by paying $400,000 cash a…
World Wide pursuing Chinese exploration targets
In an effort to expand its exploration activities, World Wide Minerals (TSE) has struck a preliminary agreement with privately owned Taishan Gold. World Wide intends to buy Taishan from Toronto-based …
Pegasus suspends dividend
Spokane-based Pegasus Gold (TSE) has decided not to declare a year-end dividend. The company says that although it is financially strong, its resources are better deployed in new projects, minesite ex…
PRODUCER PRICES (December 26, 1994)
ALUMINUM: MW U.S. market US89.5 cents-90.5 per lb. (Dec. 9, 1994). ANTIMONY: MW New York dealer US$2.80-2.90 per lb. (Dec. 2, 1994). BISMUTH: MW New York dealer US$3.90-4.20 per lb. (Oct. 27, 1994). C…
Freewest reshuffle gets green light
A proposed reorganization of Freewest Resources (TSE) and its subsequent amalgamation with Hemlo Gold Mines (TSE) has been approved by Freewest’s shareholders. Effective Dec. 15, all of Freewest’s ass…
NEWS ROUNDUP — Tandem boosts holdings in NAR
Junior Tandem Resources (ME) has increased its interest in NAR Resources (ME) to 34.5% from 30.1%. Tandem subscribed for 120,000 shares of NAR, paying 50 cents per share, or $60,000 in aggregate. Afte…