NEWS IN BRIEF Pacific proposes warrant issue
Pacific Metals (ASE) has proposed a private placement of 1.4 million special warrants at a price of $1 to replace a previously announced common share placement. Each warrant will be exchangeable into…
News
Cornucopia halts merger plan, Galactic holds talks with DCC
The proposed merger of Galactic Resources (TSE) and Cornucopia Resources (TSE) into one company has been terminated. Galactic said the cancellation of the merger was “amicable” and will not affect the…
U.S. REPORT Cochise exposes vein on level two at Golden Rule
Operators at the Golden Rule prospect in Arizona have exposed the property’s main vein on the second level. Cochise Resources (ASE) says that although grade along the 270-ft. drift exposure is varia…
Vancouver Stock Exchange Financing boosts Fairfield
A review of trading activity for the first half of 1991 shows a distinct drop compared with the same period last year. Daily volume during the first half fell by more than 14%, with daily value decrea…
Miners fight Newfoundland parks
Newfoundland’s mining industry is beginning to look askance at the province’s drive to protect more Crown land from mineral and other forms of economic development. The industry is afraid the provinc…
Platinova, RTZ team in Greenland
A joint venture agreement has been signed with a subsidiary of RTZ of London covering the exploration and possible development of four mineral licence areas in Greenland, Platinova Resources (TSE) rep…
Kalahari cuts good grades at La Currita
Drilling on the La Currita property near Chihuahua, Mexico, is returning good gold-silver intersections over wide widths. The La Currita property is leased to Kalahari Resources (VSE) which has the r…
TSE Short Positions (July 15, 1991)
Semi-monthly reports as of Jun 15, showed 24,245,977 shares of 564 issues compared with 22,603,148 shares of 583 issues on May 31. Larger individual positions included: Amer. Barrick 228,112; Aur Res….
Output up, costs down at Canada’s top gold mines – Macassa now in
Cumulative gold production from Canada’s 12 largest gold mines jumped almost 8% to 2.7 million oz. in 1990. Once again, Ontario’s Hemlo area gold mines took the spotlight, churning out over 1.3 mill…
FINANCING (July 15, 1991)
Pegasus Gold Inc. – 3,000,000 com shs and 1,000,000 wts to purch com sh in units offered @ $15.50 per unit. Teck Corporation – 4,300,000 units consisting of 1 Cl B subordinate voting sh and 1/2 wt o…
$1-million drilling program under way at Polaris-Taku
Drilling is now under way at the Polaris-Taku gold property, about 65 miles south of Atlin, B.C. Suntac Minerals (VSE) is earning a 60% interest in the property from Rembrandt Gold Mines (ASE). To d…
METAL PRICES FUTURES PRICES (July 15, 1991)
N.Y. Commodity Exchange High Low Close Week’s Change COPPER (HG) (in US cents per lb.) Jul 101.00 100.20 100.90 – 2.30 Aug 100.90 100.60 100.80 – 2.65 Sep …