News in Brief (December 26, 1988)
Consolidated P.C.R. Industries has changed its name to Oregon Resources Corp. (ORE:VSE) on a share-for-share basis. News in Brief Thor Gold has changed its name to Solomon Gold Corp. (SGT:ASE) on a sh…
News
U.S. REPORT Northern Dynasty producing from underground/heap leach
As operator and 43%-owner of the Little Bald Mountain mine in Nevada, Northern Dynasty Explorations (TSE) is expecting to produce 7,000 oz of gold during the 1988 season from the combined underground/…
U.S. REPORT (December 26, 1988)
U.S. Gold Corp. (NASDAQ) has completed a $12.75 million(US) private placement. Combined with an $18 million gold loan, the financing will provide the required funding for the expansion of a gold minin…
Talk of platinum-free converter sends metal’s price reeling
The spot price of platinum dropped about $100 recently following an announcement in the United States by the Ford Motor Co. that it is developing a catalytic converter which does not require the metal…
Gilsons charged with fraud over Silver Bar statements
The president of North Bay, Ont., based Silver Bar Mines (COATS) and his wife are scheduled to appear in Provincial Court April 19 and 20, to face a series of fraud charges. Ronald and Shirley Gilson …
Belmoral to buy Ketza mine
Toronto-based Belmoral Mines (TSE) expects to increase its gold production in 1989 to more than 100,000 oz by acquiring the troubled Ketza River gold mine in the Yukon Territory. Belmoral says it has …
U.S. REPORT Magma offering copper notes
An offering of $200 million(US) principal amount of copper interest- indexed senior subordinated notes due 1998 is being made by Magma Copper (NASDAQ). Interest on the copper notes will be indexed to …
U.S. REPORT Brican drilling Nevada property
A reverse circulation drilling program by Brican Resources (VSE) is under way on the Cottonwood gold prospect, part of the North Peak project, in Nevada’s Battle Mountain district. The 18-hole drill p…
Metal Prices FUTURES PRICES (December 26, 1988)
N.Y. Commodity Exchange Week’s High Low Close Change COPPER (in US per lb.) Dec 159.50 156.00 158.90 + 6.90 Mar 136.90 133.90 136.00 + 7.00 May 127.50 125.80 126.9…
Northgate, MSV in financing deal
Northgate Exploration (TSE) has agreed to provide MSV Resources (ME) with a financing package totalling $6.5 million. This includes a $5.2-million bridge facility which must be paid back by April 30, …
Nanisivik Mines ups stake in Highwood
A wholly-owned subsidiary of Mineral Resources International (TSE), Nanisivik Mines, recently acquired an additional 462,000 shares of Highwood Resources (TSE), increasing its stake in that company to…
Books Premise examined
The Centre for Resource Studies examines the wide-held premise that “more remote” means “less economic” for mineral exploration and development. The economic analysis and comparison of mining potentia…