Acadia wins Hecla’s Canadian interests
Having recently elected a new board of directors, Acadia Mineral Ventures (TSE) is entering into an agreement in principle with Hecla Mining (NYSE) whereby Hecla will transfer all of its interest in c…
News
Changes would increase dramatically fines for violating some
Ontario’s new Provincial Penalties Adjustment Act, now awaiting proclamation, will substantially increase fines for companies that contravene the Mining Act or a number of other provincial statutes. T…
Nova-Cogesco Res. raises funding
A $2.5-million private placement with Le Fonds de solidarite des travailleurs du Quebec and MSV Resources (ME) has been completed with Nova-Cogesco Resources (TSE), the companies report. Le Fonds acqu…
Milestone Res. claims Birch Lake ground
Claim staking and optioning around Birch Lake, Ont., have allowed Milestone Resource (COATS) to increase significantly its ground position in the area. The company has optioned 46 claims from Falconbr…
Minority shareholders fear misappropriation
A group of seven shareholders representing 21.7% or about 1.3 million shares of Seven Mile High Group (VSE) have obtained a court order calling for an inspection of the company’s books. The order was …
Spot prices at a glance (March 19, 1990)
Week’s Price (US) Change Gold* $398.80 — $3.80 Silver* $5.09 — $0.05 Platinum* $502.50 — $6.05 Nickel** $4.13 + $0.17 Lead** $0.55 + $0.10 Copper- $1.18 Zinc $0.79 + $0.07 Courtesy of Scotiabank. I…
Ungava acquires iron ore deposit
Optimistic about the future of the iron ore market, Ungava Iron Ores, a newly formed private company, has acquired a significant iron ore deposit at Hopes Advance Bay in northern Quebec. The Ungava de…
IOCC GOLD OPTIONS (March 19, 1990)
Options Open Series Volume Last Interest May 400 C 374 13.50 1,211 May 410 C 408 7.00 1,206 May 420 C 433 4.00 2,592 May 430 C 151 2.20 1,521 May 440 C 146 1.30 1,569 May 450 C 226 0.60 1,157 Aug. 430…
Nerco fashions Con turnaround with US$95-million investment
A well defined operating strategy backed by more than US$49.4 million in capital improvements has enabled Nerco Minerals, a unit of Nerco Inc. (NYSE), to achieve a turnaround in operations at its Con …
Toronto Stock Exchange Gold issues gain despite pressure from U.S.
While the mining community was taking a look into the future at this year’s Prospectors and Developers Association Convention in Toronto, the U.S. dollar continued to exert downward pressure on the pr…
Results confirm high-grade gold at Eskay Creek
The latest uncut assay results released by operator Calpine Resources (VSE) are continuing to confirm the high- grade nature of the Eskay Creek gold deposit, north of Stewart, B.C. Calpine owns 50% of…
Letters to the Editor OSC proposal offends engineer
You recently reported (T.N.M., Feb. 12/90) on the intent of the Ontario Securities Commission (OSC) to regulate professionals. As a professional engineer, I find the desire of the OSC to extend its po…