NEWS IN BRIEF (December 13, 1993)
Kemano Resources (KRL.A:ASE) and Canadian Northcor Energy have amalgamated to form Purcell Energy (PEL:VSE). Kemano shareholders receive 0.9 new for one old share and Canadian Northcor Energy sharehol…
News
LAST BUT NOT LEAST — Horsham grosses $US550 million
Toronto-listed Horsham has completed a 25-year debt financing with gross proceeds of US$550 million. The debentures will carry an interest rate of 3.25% and be indexed to the common share price of ass…
LAST BUT NOT LEAST — Cyprus to explore Guinea
Under an agreement with Guinean government, Cyprus Amax Minerals (NYSE) can explore for gold in the region known as Mandiana Prefecture. The area has an extensive gold mining history, with some deposi…
LAST BUT NOT LEAST — Private placement by SouthernEra
Diamond explorer SouthernEra (TSE) has completed a private placement of 1.4 million units to a group of European investors. Each unit consists of one common share and one half-share purchase warrant a…
PRODUCER PRICES (December 13, 1993)
ALUMINUM: MW U.S. market US51.0-51.5 cents per lb. (Nov. 25, 1993). ANTIMONY: MW New York dealer US76-80 cents per lb. (June 10, 1993). BISMUTH: MW New York dealer US$2.35-2.65 per lb. (Sept. 23, 1993…
Inter-Rock drills Daisy gold project
To increase reserves, Inter-Rock Gold (ME) is drilling on the Daisy gold project in southern Nevada. The 20-hole reverse circulation program will total 11,000 ft. The cost will be US$300,000. The comp…
Fairfield completes bulk sampling
Based on underground test mining at its Siwash North gold project near Merritt, B.C., Fairfield Minerals (TSE) estimates mining costs will be less than US$150 per oz. A 230-ton bulk sample mined from …
TORONTO STOCK EXCHANGE INDICES (December 13, 1993)
— Week — Dec 7 Dec 6 Dec 3 Dec 2 Dec 1 High Low Composite “300”4265.48 4235.99 4239.36 4226.32 4220.37 4266.01 4218.31 Metals & Mnrls 3434.12 3298.70 3280.84 3291.72 3290.08 3435.21 3270.93 Integrat…
OBITUARY — Robert Stevenson
Geological engineer Robert Stevenson has died suddenly in Vancouver. He was 67. A native of Hamilton, Ont., he graduated in 1952 from the University of Toronto with a BASc. degree in mining geology. H…
Ram claims record for raise
A member of the J.S. Redpath group of companies, Ram Raising, is claiming a world record for the longest Working at the Detour gold mine of Placer Dome near Timmins, Ont., Ram says it excavated a rais…
Goldbelt provides review extension
Pegasus Gold (TSE) has been given a 3-month extension to complete a due diligence review of its proposed alliance with Goldbelt Resources (VSE). In mid-September, it was announced Pegasus would inject…
NO HEADLINE (December 13, 1993)
Gagan Gold (GGG:VSE) has changed its name to Cachet Enterprises (CED:VSE) on a 1-new-for-3-old-share basis.