Wheaton shares start trading
Shares of Wheaton River Minerals (TSE), the first new junior mining company to be cleared for listing on The Toronto Stock Exchange this year, began trading recently at around 43 cents. With 5.9 milli…
News
Falconbridge hit by metal slump
Toronto-based Falconbridge, the western world’s second largest nickel producer reported net earnings of $9.9 million in the three months ended June 30, down from $26.8 million in the same period last …
Drilling starts at Paydirt
A diamond drill program has started on the Paydirt property to test several targets outside the Paydirt deposit which contains preliminary reserves of 204,000 tons grading 0.12 oz. gold per ton. The p…
Pegasus lists on Montreal exchange
Washington-based Pegasus Gold (TSE) recently listed its common shares on the Montreal Exchange. Incorporated in British Columbia, the gold producer operates four mines in the western U.S. with a total…
FUTURES PRICES (July 29, 1991)
N.Y. Commodity Exchang Week’s High Low Close Change COPPER (HG) (in US cents per lb.) Jul 99.80 99.00 99.25 + 0.60 Aug 99.25 99.05 99.60 Sep 99.95 99.00 99.50 + 0.85 SILVER (in US cents per oz.) Jul 4…
High copper values from Cerattepe
The 1991 drilling program by Cominco Resources International (TSE) on its 100% owned Cerattepe property in northeastern Turkey is reportedly increasing the known extent of high-grade copper mineraliza…
GSC studies Newfoundland deposits
The Geological Survey of Canada is studying the occurrence of gold and other deposits in Newfoundland’s Notre Dame Bay area. The focus is on the geochemistry of volcanogenic massive sulphides and the …
Deak International private placement (July 29, 1991)
Toronto-based Deak Inter-national Resources Holdings has entered into a private placement agreement to ac-quire 7.6 million shares of af-filiate Deak Resources (TSE) for 25 cents per share. Subject to…
Unlisted Trading (July 29, 1991)
Gold analyst David James’ positive comments on the Holloway project, about 40 miles east of Matheson, Ont., have renewed investor interest in Teddy Bear Valley Mines. A portion of Holloway’s famous Li…
Vera Cruz financing cancelled
Junior exploration company Vera Cruz Minerals (VSE) reported in early July that a previously announced brokered private placement with Haywood Securities had been cancelled. The placement was for 400,…
PROFILE (July 29, 1991)
During the Second World War, a graduate from McGill University discovered a diamond mine in East Africa where he was based. News about the man’s fortune prompted many students at McGill, including Wil…
Mining contractors form association
Concerned about their image in the mining industry and that of the mining industry itself, Canadian mining contractors have established an association. The Canadian Mining Contractors Association (CMC…