Morrison deal
Morrison Minerals (TSE) reports the completion of the sale of its shares in Aerodat Ltd. to Geonex Ltd. for cash, dividends and shares in Geonex. (Aggregate value of the deal is about $3.75 million.) …
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FINANCING (December 23, 1991)
Minerva Gold Mines Ltd – 1,000,000 shs offered @ 50 cents per sh. September Resources Ltd – 625,000 shs offered @ 37.5 cents per sh. Canadian Imperial Mines Inc – 600,000 shs offered @ 40 cents per sh…
FUTURES PRICES (December 23, 1991)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Dec 98.40 97.60 98.15 + 0.80 Jan 98.10 97.35 98.00 + 1.00 Feb 97.75 97.75 98.90 + 2.00 SILVER (in US cents per oz…
NEWS IN BRIEF (December 23, 1991)
Pan Oceanic Ventures Inc. (PSV:VSE) has changed its name to Falcon Ventures International Corp. (FNV:VSE) with a consolidation of capital on a 1-new-for-8-old-share basis. The transfer agent is Pacifi…
PEOPLE (December 23, 1991)
Bevan Anderson appointed vice-president, corporate affairs; Raymond Mongeau and A. Reid appointed directors.
Platinum supply to outstrip demand
Supply of platinum in 1991 is expected to surpass demand by 210,000 oz., writes metals dealer Johnson Matthey in an interim review. Supplies may increase, because of increased Soviet sales, to 4.1 mil…
NEWS ROUNDUP (December 23, 1991)
Drilling is under way on the 67-unit Hurdman property, about 65 miles north of Timmins, Ont., says owner Noront Resources (VSE). The base metal prospect hosts several mineralized conductors and a half…
Montanore suspension continues
Development work at the Montanore copper-silver project near Libby, Mont., remains suspended because of environmental problems. Noranda (TSE), 55% owner of the project, was forced to shut down operati…
Maurice Hamelin faces 20-year ban
In late November, the British Columbia Securities Commission ordered the removal of Maurice Hamelin’s trading rights, and prohibited him from acting as a director or officer of a public company for 20…
Cambior, Aurizon test zone 20
Most of the current exploration work at the Sleeping Giant mine project north of Amos, Que., is being carried out on zone 20, project partners Aurizon Mines (TSE) and Cambior (TSE), the operator, repo…
Ontex, Placer talks continue
A letter of intent between Ontex Resources (ASE) and Placer Dome (TSE) to finance further exploration on the Brookbank gold property near Beardmore, Ont., has been extended indefinitely. Ontex Vice-Pr…
Cathedral reports quarterly loss (December 23, 1991)
A loss of $114,000 on revenues of $423,000 was reported by Cathedral Gold (TSE) for its 1991 third quarter ended Sept. 30, compared with a loss of $202,000 on revenues of $581,000 for the comparable p…